Oil markets were firm on Wednesday on worries over geopolitical tensions in the Korean peninsula and the Middle East, although prices were capped as supply remains ample despite an OPEC-led Continue Reading
Oil futures settled up slightly on Thursday, well off session highs, after a sharp but short-lived boost from a much bigger-than-expected decline in U.S. inventories of crude oil and gasoline. Continue Reading
Seasonality is a concept well understood by the capital markets. Take adages such as “Sell in May and go away,” which reputedly has its origin in the North American mining Continue Reading
Russian Energy Minister Alexander Novak said a global pact by OPEC, Russia and other producers to cut oil output had dampened price volatility and was reducing bloated inventories, so no Continue Reading
Saudi Aramco said on Thursday its recoverable crude oil and condensate reserves slipped to 260.8 billion barrels at the end of 2016 from 261.1 billion a year earlier. Its gas Continue Reading
In an annual review, the Saudi Arabian Oil Co. said new wells drilling at a field near Riyadh could add another 300,000 barrels of oil per day by 2018. The Continue Reading
A report Thursday from oil pricing group Platts stated that more production is possible from OPEC members Libya and Nigeria, adding to supply-side concerns. A survey of production from members Continue Reading
Fishermen in the Venezuelan state of Falcon on Thursday blocked the passage of tankers through Lake Maracaibo’s navigation canal to two of the country’s most important refineries. The fishermen are Continue Reading
MELBOURNE, Australia—Tesla Inc.’s Elon Musk has agreed to build the world’s largest lithium-ion battery system in Australia, an ambitious project that he hopes will show how the technology can help Continue Reading
Drawdowns continues as White House pledges to sell more Rising domestic output to offset need for a flush SPR U.S. strategic crude stockpiles have dropped to the lowest level in Continue Reading
