Oil kept falling after just its second weekly drop since April as coronavirus infections and fatalities surpassed grim milestones in a reminder the outbreak is far from under control in Continue Reading
Oil prices slid for a second straight session on Monday as coronavirus cases rose in the United States and other places, leading some countries to resume partial lockdowns that could Continue Reading
An oil trade that made its way into Donald Trump’s press briefings — and earned big profits for commodity merchants and tanker owners alike — is fading away with every Continue Reading
Natural gas prices plunged to new lows this week, falling below $1.50/MMBtu, a catastrophically low price for U.S. gas drillers. The factors afflicting the gas market are multiple. Prices had Continue Reading
Oil posted its second weekly loss for the month, as a surge in U.S. coronavirus cases clouds the demand outlook and casts doubts on the market’s recovery. (Bloomberg) — Oil Continue Reading
The two-month oil rally has stalled, with WTI falling back to $38 per barrel. The resurgence of Covid-19 across the U.S. has halted the market’s positive momentum. Natural gas prices Continue Reading
Oil posted its second weekly loss for the month, as a surge in U.S. coronavirus cases clouds the demand outlook and casts doubts on the market’s recovery. Futures in New York Continue Reading
S&P Global Platts and Argus Media will today launch new benchmarks for pricing U.S. crude oil that is being exported to replace the West Texas Intermediate benchmark. The new benchmarks Continue Reading
Autumn forwards prices at Appalachia’s benchmark Dominion South hub are at fresh lows in late June as anticipated production growth, rising gas storage levels and limited midstream capacity loom large Continue Reading
Crude oil futures were trading higher in mid-morning trade in Asia June 26 after positive US economic data buoyed market sentiment about an improved demand outlook, despite fresh outbreaks of Continue Reading
Oil prices inched up on Friday as the bullish impetus from signs of fuel demand recovery was kept in check by a rising number of new coronavirus cases in the Continue Reading
NYMEX prompt-month Henry Hub futures prices plunged to a 25-year low on June 25 as rising gas storage inventories and pandemic-related demand weakness continue to weigh on the market. In Continue Reading
Natural gas prices near a 25-year low on Thursday morning as fundamentals are turning bearish. August NatGas futures slid 2% to 1.612 MMBtu on Thursday morning, weighed down by the Continue Reading
Oil prices rose about 2% in a volatile session on Thursday, buoyed by signs of a marginal improvement in the U.S. economy and a tepid rise in fuel demand, but Continue Reading
The recent optimism in oil markets has left many analysts scratching their heads, with no real fundamental reason for the shift in sentiment. Demand projections that suggest Asia or the Continue Reading
Oil extended declines after swelling U.S. crude stockpiles and a surge in coronavirus cases across the nation raised concerns about demand in the world’s largest economy. Futures in New York slipped Continue Reading
Global gas prices in late June are up from record lows amid a recent but modest uptick in demand, fueled by easing virus-related lockdowns and rising summer temperatures. In Northeast Continue Reading
A spike in U.S. coronavirus cases is threatening the oil market’s recovery from its historic plunge into negative territory. Futures in New York slid 5.9% to the lowest in a week on Continue Reading
JP Morgan’s recent prediction that oil prices would hit $190 has reignited a conversation about how high the looming supply crunch will send oil. The U.S. shale boom transformed the Continue Reading
Crude oil futures were rangebound in mid-morning trade in Asia June 24 as the market awaits fresh drivers. At 09:43 am Singapore time (0143 GMT), ICE Brent August crude futures Continue Reading
l slipped from a three-month high before a U.S. government report expected to show another increase in inventories, signaling the market still has its work cut out to clear a Continue Reading
Oil futures were mixed on Wednesday as concerns about oversupply in the market, stoked by an rise in U.S. crude inventories, were offset by a drop in gasoline stocks that Continue Reading
Crude oil futures were steady to marginally lower in mid-morning trade in Asia June 23 following an overnight rally, as demand uncertainty continues amid concerns of a second wave of Continue Reading
Oil prices were volatile on Tuesday after markets were spooked by surprise comments from White House trade adviser Peter Navarro saying a hard-won U.S-China trade deal was “over”, though he Continue Reading
Crude futures edged higher June 22 as the market weighed a tightening global supply picture against uncertain demand outlooks amid a spike in COVID-19 cases around the world. NYMEX July Continue Reading
There is plenty of bullish sentiment in oil markets despite fears of a second wave of COVID-19 cases and under compliance from some OPEC+ members. The second half of 2020 Continue Reading
Bank of America has increased its average WTI crude price forecast by $7.70, adding to a trend of increasingly bullish forecasts. The forecast was altered due to stronger-than-expected demand recovery, Continue Reading
Oil prices are set to fluctuate around the $40 mark for the foreseeable future as there is too much downside risk for them to move much higher All eyes should Continue Reading
Oil held near $42 a barrel in London as investors weighed signs of rebounding demand against a resurgence in new coronavirus cases. A rise in coronavirus cases in Germany and the recent jump Continue Reading
Oil prices were steady on Monday, supported by tighter supplies from major producers but held in check by concerns over a record rise in coronavirus infections worldwide that could stall Continue Reading
Every day, traders in London congregate at 4 p.m. to buy and sell North Sea oil for half an hour. The window, as it’s known in the industry, is where Continue Reading
Oil producing nations with a high average fiscal break-even, but also oil traders have been caught off guard by the plunge in oil prices this Spring. Oil nations are forced Continue Reading
Highlights Sees Russian oil, gas companies cutting budgets by 10%-20% Does not see gas prices going negative for sustained period Moscow — The Russian energy ministry expects the average Urals Continue Reading
Oil turned around last week’s setback, extending a slow but relentless rise since falling into negative territory in April. U.S. benchmark crude futures rose 2.3% Friday to close at the highest level Continue Reading
Since March, several factors have helped drive the midstream recovery. The rebound in oil prices, aided by OPEC’s agreement to substantially curb oil output and then to extended those cuts Continue Reading
Oil prices have shrugged off concerns about rising coronavirus infections, with WTI hitting $40 per barrel in early trading on Friday, a three-month high Saudi Aramco is cutting hundreds of Continue Reading
Oil traders are giving OPEC+ the benefit of the doubt this week as prices soar to 3-month highs The second wave of COVID-19 in both Beijing and the U.S. is Continue Reading
Oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and signs of demand, Continue Reading
Global stock markets fell on Thursday as a continued rise in the number of coronavirus cases dashed hopes of a swift recovery from the pandemic-induced economic slump and drove demand Continue Reading
Oil prices rose slightly on Thursday as a panel of OPEC and its allies met to review record oil supply cuts, even as the market remained concerned about additional coronavirus Continue Reading
Oil producers all over the world are struggling with a slump in demand that has driven the lower-for-longer price forecasts. High-cost producers are between a rock and a hard place Continue Reading
Crude oil futures were trading lower in mid-morning trade in Asia June 18 after latest US inventory data showed a rise in crude stockpiles for a second consecutive week, while Continue Reading
The oil market showed signs of tighter supply as key gauges of its health rallied, although concerns remain over a resurgence in coronavirus cases in China and the U.S. Futures Continue Reading
Oil prices recovered a bit on Wednesday morning after the Energy Information Administration reported an inventory build of 1.2 million barrels for the week to June 12. Fuel inventories, however, Continue Reading
Crude nearly erased all losses after a U.S. government report showed inventories at the nation’s key storage hub in Oklahoma declined. Stockpiles at the Cushing site declined for a sixth straight Continue Reading
There is virtually no economic sector on Earth that has not been impacted by the spread of the novel coronavirus, but few have been as thoroughly battered as the global Continue Reading
Crude oil futures were trading lower in mid-morning trade in Asia June 17, after settling higher overnight, as reports of fresh COVID-19 outbreaks continued to weigh on hopes of economic Continue Reading
Oil rose on Wednesday on hopes for economic recovery and for a clinical trial showing a cheap steroid could help save some critically ill coronavirus patients but fears of a Continue Reading
Beijing closes schools, raises COVID-19 emergency response IEA projects global crude demand to rise by 5.7 million b/d in 2021 US retail sales jumped 17.7% in May from the previous Continue Reading
The American Petroleum Institute (API) estimated on Tuesday another build in crude oil inventories, this time of 3.857 million barrels for the week ending June 12. Analysts had predicted a Continue Reading
