Saket Sundria and Alex Longley

Government, Business, Fuel

Oil Trades Near Six-Week High on Supply Cuts, Demand Recovery

Oil tankers are seen anchored in the Pacific Ocean above Long Beach, Calif., on May 1. Oil tankers are seen anchored in the Pacific Ocean above Long Beach, Calif., on May 1. (Patrick T. Fallon/Bloomberg News)

Oil was near the highest in six weeks as major producers slash supply, and there are increasing signs that demand is recovering.

May 15, 2020
Government, Business, Fuel

Oil Extends Gain Near Three-Month High as US Stockpiles Shrink

Fuel An oil refinery stands in West Texas. (Eddie Seal/Bloomberg News)

Oil rose for a fifth session, the longest run of gains since July, as a bigger-than-forecast decline in U.S. crude stockpiles eased oversupply concerns.

December 30, 2019