Cheap Gas Available Across U.S., But Few People Are Buying
In Fargo, North Dakota, cheap fuel has never been so unwelcome. The Midwestern city is so awash in gasoline, the fuel last week sold for a record 12 cents a gallon Continue Reading
Oil falls amid persistent fears about oversupply and pandemic
Oil prices fell on Wednesday on persistent worries about oversupply amid global coronavirus-related lockdowns and as the International Monetary Fund (IMF) warned of a deep recession. Brent futures LCOc1 were Continue Reading
Oil Weighed Down After 10% Drop on Lingering Demand Fears
Oil fell below $20 a barrel after the International Energy Agency said demand would slump by a record this year despite a historic production cut deal. Futures fell as much as 4.5% Continue Reading
Oil Hits $20 After API Reports Mega Crude Inventory Build
The American Petroleum Institute (API) estimated on Tuesday another large crude oil inventory build of 13.143 million barrels for the week ending April 10 as demand destruction stemming from the Continue Reading
Oil Prices Plunge On Grim IMF Economic Forecast
As if oil prices needed any more help on their downward spiral towards the teens, The IMF just slashed global growth to the worst since the ’30s. “This crisis is Continue Reading
Oil slips as producer cuts fail to banish demand fears
Oil prices edged lower on Tuesday, with investors apparently unconvinced that record supply cuts could soon balance markets pummeled by the coronavirus pandemic, though a predicted plunge in U.S. shale Continue Reading
WTI retreats as market weighs lackluster OPEC+ cuts
NYMEX WTI futures retreated Monday, but the rest of the oil complex climbed as the market weighed the impact of a nearly 10 million b/d OPEC+ supply-cut agreement against grim Continue Reading
Will the US-backed Opec+ deal help lift oil prices?
Opec agreed the biggest ever oil output cuts with the backing of Russia, the US and the wider G20 group of nations in an effort to bolster crude prices that Continue Reading
Oil Prices: Market Reacts to OPEC+ Deal to Cut Production
Oil surrendered gains after rising in early trading as investors weighed whether an unprecedented deal by the world’s biggest producers to cut output would would be enough to steady a Continue Reading
Goldman Sachs still sees crude prices falling after OPEC+ deal
Goldman Sachs said on Sunday that oil prices would continue to fall in the coming weeks, reasoning that a “historic yet insufficient” deal by major oil producers to cut output Continue Reading