Some of the world’s poorest oil-producing countries are slipping behind on payments for billions of dollars in oil-for-cash loans from commodity trading houses, putting them at risk of default. The so-called Continue Reading
Oil steadied after a four-day gain as investors weighed signs the market is rebalancing against what’s still a precarious economic outlook. Futures in New York for July delivery were little Continue Reading
For the world’s most important commodity, there’s never been a month like it.Just a few weeks ago, crude oil was akin to industrial waste in some parts of the world, Continue Reading
The American Petroleum Institute (API) estimated on Tuesday a large crude oil inventory draw, of 4.8 million barrels for the week ending May 15. Analysts had predicted an inventory build Continue Reading
Oil prices have rallied significantly, rising $10 in two weeks as markets are increasingly convinced that global demand for crude is picking up once again. Deep output cuts and the Continue Reading
Oil prices have surged to two-month highs on growing signs of a rebound in oil demand, as the easing of lockdowns spread worldwide. At its peak in April, global lockdown Continue Reading
Oil rose to levels not seen since Covid-19 lockdowns paralyzed the world’s largest economy, lifted by signs of recovering demand and news of a viable coronavirus vaccine. Futures in New York Continue Reading
Oil rose above $30 a barrel for the first time in two months as producers in the U.S. and elsewhere continued to cut output. Futures in New York climbed about 5.6%, rallying Continue Reading
Driving in the United States and Europe is picking up a little. Refineries in China are buying more oil as that country’s economy reopens. Saudi Arabia and Russia ended their Continue Reading
Two weeks before the Atlantic hurricane season officially begins, Tropical Storm Arthur has formed off the southeast U.S. coast and is heading toward North Carolina. The National Hurricane Center has Continue Reading
