Oil was anchored near $24 a barrel as investors weigh the prospect of a demand recovery against a huge glut that’s testing global storage capacity limits. Futures were stable in New York Continue Reading
US unemployment to likely top 20 million in April Product futures slide as demand declines US crude production slide accelerates, backstopping prices Oil futures settled lower Wednesday as renewed demand Continue Reading
Energy producers are throttling back their output, drivers are returning to the road and U.S. oil prices are roughly twice what they were a week ago, raising hopes—but not confidence—that Continue Reading
Oil snapped a five-day rally as a persistent supply glut outweighed signs of recovering U.S. fuel demand. Futures in New York fell 2.3% Wednesday, after doubling in value from a week Continue Reading
Oil could hit $100 per barrel within the next 18 months, Egyptian billionaire Naguib Sawiris told CNBC on Wednesday—a hard pill to swallow with Brent currently trading below $30 per Continue Reading
The worst for oil is over, but the road to recovery will be long and windy, Bloomberg’s Javier Blas tweeted , citing Morgan Stanley analysts. According to them, April was Continue Reading
Suncor Energy is axing its quarterly dividend by 55 percent to reduce its cash breakeven to a WTI Crude price of US$35 a barrel, one of Canada’s biggest oil firms Continue Reading
Crude oil futures were largely stable in mid-morning trade in Asia Wednesday amid cautious optimism after a price rally overnight. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Oil’s rally resumed — after prices doubled over five days — amid optimism that output cuts are easing a huge supply glut and demand losses have bottomed. Futures in New York Continue Reading
The American Petroleum Institute (API) estimated on Tuesday another large crude oil inventory build, of 8.440 million barrels for the week ending May 1 as the demand destruction continues and Continue Reading
