WTI settled at a fresh 18-year low for a front-month contract Friday as near-term oversupply concerns prompted selling of prompt-dated contracts. NYMEX May WTI moved $1.60 lower to settle at Continue Reading
Oil prices were mixed on Friday, with weak Chinese economic figures and rapidly filling U.S. crude storage offsetting bullishness built on U.S. President Donald Trump’s outlines for the U.S. economy Continue Reading
Oil closed the week at the lowest since 2002 as an historic OPEC+ production cut failed to counter a wave of gloomy demand forecasts and concerns that traders are quickly Continue Reading
The week started out promising for crude oil traders, hoping for a boost in prices to shore up the U.S. oil industry and to stabilize prices. OPEC, Russia and other Continue Reading
Fears of global crude storage hitting capacity are now dominating markets, sending oil prices falling towards $15 WTI fell below $18 per barrel in early trading on Friday, as a Continue Reading
The ships provide big operating-cost savings on major trade lanes in periods of high demand, but critics say they also box in ship owners, giving them little flexibility to shift Continue Reading
Crude oil storage facilities on land and on water are filling fast amid ongoing overproduction of 10 million b/d, leaving the global tanker market to make up for excess supply. Continue Reading
The conversation about climate change has been blazing ahead recently. Propelled by the school climate strikes and social movements like Extinction Rebellion, a number of governments have declared a climate Continue Reading
The semi-autonomous region of Kurdistan in Iraq will defer payments to oil companies operating in the region for the oil sales they had made between November 2019 and February 2020, Continue Reading
Saudi Arabia’s oil giant Aramco will be sending 4 million barrels per day (bpd) of its crude to Asia in May, down from the full contractual volumes of 6 million Continue Reading
