Oil Rides U.S. Stimulus Rally While Price War Rages Unabated
Oil rode a rally driven by optimism over U.S. stimulus spending into a third day, but a vicious price war that shows no signs of abating continued to hang over Continue Reading
Oil pares gains as falling demand worries offset hopes of U.S. aid package
Oil prices were little changed on Tuesday, giving up an earlier rally, as ongoing worries about the heavy toll the coronavirus pandemic will take on demand offset hopes for a Continue Reading
Oil Jumps As Fed Pledges “Unlimited” Cash To Bolster The Economy
Oil prices jumped by 4 percent early on Tuesday after the U.S. Federal Reserve launched on Monday extensive new measures to support the economy as the coronavirus pandemic spreads. But Continue Reading
The Oil Price Rebound Won’t Last
Both oil and stocks rallied on Tuesday morning as news of a Fed stimulus initiated some bullish sentiment in markets, but poor fundamentals are likely to drag oil prices down Continue Reading
Analysis: Light crudes get cheaper vs heavy as COVID-19 hits gasoline, jet demand
Declining refining margins for transport fuels such as gasoline and jet fuel have impacted demand for lighter crude grades in Asia, with the value of premium grades such as Abu Continue Reading
Cheap Gasoline Forcing US Refiners to Throttle Back
Oil refiners across the U.S. are being forced to throttle back operations amid a historic plunge in gasoline demand and prices. Plants representing more than 10% of U.S. fuel-making capacity Continue Reading
Crude climbs amid possibility of joint US-Saudi oil alliance
Crude futures were higher in mid-morning trade in Asia Tuesday as the possibility of a joint US-Saudi oil alliance to stabilize prices emerged. At 09:46 am Singapore time (0146 GMT), Continue Reading
Oil Jumps As Markets Panic
Oil prices rose slightly on Monday, but the oil markets are still in full-blown panic mode as the number of American states in complete lockdown grows, threatening demand for crude Continue Reading
Oil Slides Toward 2003 Low on Demand Shock and Fading OPEC Hopes
Oil clawed back some gains after plunging 29% last week as the U.S. signaled the possibility of a joint U.S.-Saudi Arabia alliance to stabilize prices. Futures in New York rose 3.2% Continue Reading
Crude extends fall as U.S. gasoline slumps 20% amid demand fears
Oil prices extended their decline on Monday, with record low U.S. gasoline prices leading the energy complex lower, as the coronavirus pandemic crushes demand worldwide after travel and industrial activity Continue Reading