Grant Smith

Government, Business, Fuel

Oil Holds Biggest Weekly Loss Since July on Easing Gulf Tension

Oil The sun sets beyond an oil pumping unit at a drilling site operated by Tatneft OAO near Almetyevsk, Russia. (Andrey Rudakov/Bloomberg News)

Oil was steady after the biggest weekly drop since July as an easing of geopolitical tension in the Middle East turned attention back to a flood of new supply set to hit the market this year.

Grant Smith | Bloomberg News
January 13, 2020
Business, Fuel

Oil in London Set for Biggest Weekly Gain in Eight Months

Oil Tanker Ali Mohammadi/Bloomberg News

Oil in London was on track for its biggest weekly increase since January as traders waited to see whether Saudi Arabia can fulfill promises to swiftly repair critical facilities attacked last weekend.

Grant Smith | Bloomberg News
September 20, 2019
Business, Fuel

Oil in Longest Run of Weekly Gains Since 2017 on Tight Supply

Oil Ali Mohammadi/Bloomberg News

Oil in New York headed for the longest weekly winning streak since November 2017 as crises from Venezuela to Libya threatened supplies, while optimism over U.S.-China trade talks buoyed the outlook for demand.

Grant Smith | Bloomberg News
April 5, 2019
Business, Fuel

Oil Nears $70 as OPEC Tightens Supply, Hopes for Trade Deal Grow

Oil Al Seib/Los Angeles Times

Oil rose near $70 a barrel in London, a level last breached in November, as global crude supplies tightened while hopes for an end to the U.S.-China trade impasse lifted financial markets.

Grant Smith | Bloomberg News
April 3, 2019
Business, Fuel

Oil Falls From Four-Month High on Concerns of Economic Slowdown

Oil Rig Al Seib/Los Angeles Times

Oil fell from its highest closing level in four months in New York as signs of a slowing global economy stirred concerns about fuel demand.

Grant Smith | Bloomberg News
March 22, 2019
Government, Business, Fuel

OPEC Sees Weaker Demand for Its Crude as US Oil Supply Thrives

Oil Rig Jim Gehrz/Minneapolis Star Tribune

OPEC reduced its estimate for the amount of crude the world needs it to pump this year as U.S. production continues to thrive and the demand outlook falters.

Grant Smith | Bloomberg News
February 12, 2019
Government, Business, Fuel

US Could Soon Pump More Crude Than Saudis Can at Their Peak

Oil derricks in the Permian Basin Jim Hickcox/ Flickr

Propelled by the shale-oil boom, the U.S. is already producing more crude than either Russia or Saudi Arabia, who until recently vied for the top spot. By midyear America will go one better.

Grant Smith | Bloomberg News
January 18, 2019
Government, Fuel

Oil Extends Longest Rally in 17 Months as Supplies Seen Tighter

Oil Rig Taylor Weidman/Bloomberg News

Oil extended its longest run of daily gains in 17 months on renewed efforts by the U.S. and China to reach a trade deal, and expectations the market will be tightened by OPEC’s output cuts.

Grant Smith | Bloomberg News
January 8, 2019
Government, Fuel

Oil Set for Longest Gain in 17 Months on US Economy, OPEC Cuts

Oil Rig Brittany Sowacke/Bloomberg News

Oil headed for its longest stretch of daily gains in more than 17 months as the U.S. Federal Reserve sought to ease investor concerns, China moved to stimulate its economy and OPEC production cutbacks took effect.

Grant Smith | Bloomberg News
January 7, 2019
Business, Fuel

Oil Begins 2019 With Renewed Slide Amid Fears Over China Growth

Oil Production Daniel Acker/Bloomberg News

Oil started 2019 with another price slide as weaker Chinese manufacturing data pointed to slowing demand in the world’s second-biggest consumer of the fuel and to growing risks of a global crude surplus.

Grant Smith | Bloomberg News
January 2, 2019

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