Oil Rallies On Signs Of A Global Reopening
Oil prices rose early on Wednesday on a spate of relatively positive news. The most obvious for the oil market was the smaller-than-expected build in crude inventories reported by API. Continue Reading
Oil Jumps Amid Output Cuts and Early Signs of Demand Recovery
Oil jumped for a second day as global production cuts deepened and signs of a fledgling demand recovery emerged. Futures in New York rose by as much as 18%. Norway said Continue Reading
Oil Climbs on Biggest Jump in U.S. Gasoline Demand in 11 Months
Oil rallied on optimism that consumption could gradually return as major producers continue to cut output to counter a global glut. West Texas Intermediate futures surged 22% Wednesday. U.S. gasoline stocks Continue Reading
IEA floats more upbeat oil demand scenario on swift recovery from pandemic
Global oil demand could fall much less than expected in 2020 as a result of the coronavirus pandemic if lockdowns ease quickly and the world rebounds from the worst-hit to Continue Reading
Oil Fields Face Disorderly Shutdown Despite OPEC+ Cuts, IEA Says
Some oil fields are set to suffer chaotic stoppages despite efforts by OPEC+ to mitigate the impact of coronavirus on global markets, the International Energy Agency warned. “Lockdown measures have Continue Reading
Coal Demand Set for Biggest Annual Drop Since World War II
Global coal demand is heading for its biggest annual drop since World War II as economic activity plunges due to coronavirus lockdowns. Burning coal to make electricity in several European Continue Reading
Global gas benchmarks converge as pandemic roils demand, trade
The NYMEX Henry Hub prompt-month settled up 7 cents Wednesday to $1.87/MMBtu; the contract remained below a nine-week high at $1.94/MMBtu last week. Europe’s benchmark month-ahead gas price, the Dutch Continue Reading
Renewables Are the Only Winners in Historic Decline in Energy Demand
The coronavirus lockdown will cause the biggest drop in energy demand in history, with only renewables managing to increase output through the crisis. As people around the world consume less oil, Continue Reading
CO2 Emissions Are Falling. That Doesn’t Mean Virus Will Slow Warming
Springtime is a difficult moment to puzzle out what the ongoing economic shutdown means for global warming. Carbon-dioxide levels always drop throughout the spring and summer in the Northern Hemisphere, Continue Reading
Green Energy Helps Utilities Survive Slump After Virus Crisis
European utilities with bulging renewable energy portfolios are showing that the way out of the coronavirus slump is colored green. Energy companies from Orsted A/S to Iberdrola SA reported robust first-quarter earnings in a Continue Reading