Oil Prices Continue to Fall in Flooded Market
Oil prices extended their recent slide on Friday, as a deluge of oil and refined products in the market weighed heavily, keeping prices near three-month lows. Brent crude, the global Continue Reading
Oil prices lower on U.S. GDP figures
A low estimate of U.S. gross domestic product and steep losses from some of the world’s biggest energy companies sent crude oil prices down early Friday. U.S. supermajor Chevron Corp. Continue Reading
Oil prices remain near April lows on ongoing oversupply
Oil prices on Friday remained around April lows as slowing economic growth threatened to worsen ongoing oversupply of crude and refined products. International Brent crude oil futures LCOc1 were trading Continue Reading
Hedge funds slash bullish bets on U.S. crude to 5-month lows
Hedge funds slashed positive bets on U.S. crude oil for a second straight week to hold the smallest bullish position in nearly five months, industry data released on Friday showed, Continue Reading
U.S. allows American-made planes to be flown to Iran
The United States said on Friday it would allow foreign airlines to fly U.S.-made aircraft to Iran, providing greater assurance to aviation companies as Iran tries to re-establish trade and Continue Reading
Libya Now Back In The Oil Business – For How Long Though
Oil tanker Libya’s key oil terminals have reopened for operations, Moussa al-Kouni, the deputy head of the country’s UN-brokered presidency council, told reporters late on Thursday at the Ras Lanuf Continue Reading
Nigeria: Shell to Lose 35,000BPd Oil for 3-Months Over Attacks
Royal Dutch Shell says its oil production in Nigeria will fall by 35,000 barrels per day in the third quarter of 2016 due to sabotage incidents and scheduled repairs. Shell, Continue Reading
Venezuela’s armed forces tighten grip as food crisis grows
When two trucks loaded with soldiers pulled up outside his butcher shop in the Barrio Unión slum of eastern Caracas, Daniel felt a deep unease. “They went into all the Continue Reading
U.S. Economy Grew at a Disappointing 1.2% in 2nd Quarter
Manny Silva welding in his bike shop that specializes in customized low-rider bicycles in Compton,… WASHINGTON–The U.S. economic growth sputtered this spring with cautious businesses largely offsetting more robust consumer Continue Reading
Oil Giants Find There’s Nowhere to Hide From Doomsday Market
Exxon posts worst profit in 17 years, missing estimates Chevron’s third straight loss capped longest streak in decades Exxon Mobil Corp. and Royal Dutch Shell Plc this week reported their Continue Reading