Oil Prices Up Amid Virus Treatment News
Oil rebounded as a new virus treatment showed promising results, but rising Covid-19 cases continued to weigh on the market. Oil gained 2.4% in New York on Friday but is Continue Reading
Oil Returns To $40 After COVID Correction
Oil prices fell on Thursday as COVID-19 cases continued to spike in the U.S., which the IEA highlighted as a major threat to oil markets in today’s report, but prices Continue Reading
Crude Oil Pares Weekly Decline on Optimism Over Virus Treatment
Oil rebounded as a new virus treatment showed promising results, but rising Covid-19 cases continued to weigh on the market. Oil gained 2.4% in New York on Friday, but is still Continue Reading
The Largest Oil Inventory Increase In History
The oil market’s massive inventory problem – Oil inventories increased in the second quarter at a rate of nearly 1.8 mb/d, more than four times the ten-year average, according to Continue Reading
IEA Sees Lower-Than-Previously Expected Demand Loss This Year
Global oil demand is set to crash by 7.9 million barrels per day (bpd) this year, the International Energy Agency (IEA) said on Friday, but this forecast is slightly more Continue Reading
IEA warns rise in Covid-19 cases ‘casting a shadow’ over oil recovery
The resurgence of coronavirus cases in several parts of the world is “casting a shadow” over the oil market’s nascent recovery, the International Energy Agency has warned. “In some countries, [the] Continue Reading
Airline Bailouts Point to Greener Travel — and Higher Fares
Europe’s $36 billion of airline bailouts could herald a shift to lower-emission travel as countries impose environmental strings on aid. Those requirements may also mean customers have less choice and Continue Reading
Pandemic Creates Germany-Sized Drop in Global Consumption
The amount of global consumption lost in the pandemic roughly equals the size of the German economy, but the slump also led to the biggest ever drop in greenhouse gas Continue Reading
Big Seafaring Nations Agree to Open Borders for Crew Changes
“After months of this crew-change crisis getting worse, governments must do their bit,” said Stephen Cotton, general secretary of the International Transport Workers’ Federation. “That means that port states where Continue Reading
Long-Planned and Bigger Than Thought: Strike on Iran’s Nuclear Program
As Iran’s center for advanced nuclear centrifuges lies in charred ruins after an explosion, apparently engineered by Israel, the long-simmering conflict between the United States and Tehran appears to be escalating Continue Reading