Banks Again Lower Oil-Price Expectations
Banks have cut their forecasts on oil prices for a fourth consecutive month as their analysts brace for further supply when OPEC’s agreement to cap output ends next year. Members Continue Reading
As oil prices weather storm, OPEC looks for long-term boost from Harvey
For veteran OPEC officials, Hurricane Harvey’s impact on global oil markets is one of the strangest things they have seen. The storm has led to some of the biggest disruptions Continue Reading
Harvey Ripples Through U.S., Global Energy Markets
Rainwater from Hurricane Harvey surrounds oil refinery storage tanks in Texas City, Texas. Tropical storm Harvey’s crippling of Gulf Coast refineries, ports and pipelines is being felt across the country Continue Reading
Global fuel markets jump as Harvey’s surge ripples beyond Gulf
Tropical Storm Harvey’s effect on the energy industry has spread beyond flooded U.S. refiners as fuel pipelines are also shut, threatening a supply squeeze around the country and roiling world Continue Reading
Gasoline spikes to $2/gallon, crude slips as Harvey wreaks havoc on refiners
Gasoline prices hit $2 a gallon for the first time since 2015 on Thursday as flooding from tropical storm Harvey knocked out almost a quarter of U.S. refineries, while crude Continue Reading
Oil dips as U.S. floods cause large-scale refinery shutdowns
Oil prices slid on Wednesday as refinery shutdowns in the wake of Hurricane Harvey cut U.S. demand for crude, the most important feedstock for the petroleum industry. U.S. West Texas Continue Reading
Oil Prices Set To Rise as Supply-Demand Gap Closes Up
Oil prices are poised to climb over the coming weeks as supply and demand approach parity, according to analysts who spoke to CNBC as the remnants of Hurricane Harvey continues Continue Reading
Iraq Braves Break With Tradition to Get Oil’s True Worth
OPEC’s second-largest producer is stepping up the campaign to get more for its oil by looking to revamp the way it sells crude to its biggest customers. (Bloomberg) — OPEC’s Continue Reading
Mideast oil producers on low-level alert after Iraq pricing switch
Gulf OPEC members Saudi Arabia and Kuwait are unlikely to follow Iraq in a major shift in the way it prices its oil in Asia and will monitor Baghdad’s attempts Continue Reading
Hurricane Harvey Tosses Global Oil Markets Into Chaos
The most powerful Hurricane to hit Texas in more than 50 years has devastated much of the coast, and the historic flooding is now causing havoc in the energy markets. Continue Reading