Oil Surges With High Hopes Ahead of Federal Reserve Meeting
Oil extended gains above $40 a barrel in New York as shrinking crude stockpiles and speculation that the Federal Reserve will keep interest rates low raised hopes that an economy ravaged by the pandemic may be on the mend.
OPEC Forecasts Lower Demand; BP Sees ‘Peak Oil’ in 2020s
Developing countries’ difficulty in containing the spread of the coronavirus pandemic will keep a lid on global oil demand, particularly in India, the OPEC cartel said Sept. 14 as it cut its forecasts.
September 14, 2020Oil Traders Snap Up Tankers in Sign Second-Wave Glut Is Near
Some of the world’s biggest oil traders are getting ready for the possible resurgence of a coronavirus-induced glut of crude and fuels, snapping up giant tankers for monthslong charters so that they can be ready to store excess barrels if necessary.
Oil Market Buckles Under Pressure of Pandemic’s Second Wave
Six months after the coronavirus pandemic’s initial punch, signs of a second wave are already emerging in the oil market.
September 9, 2020Oil Sinks With Equities on Wavering Hopes for Demand Pickup
Oil tumbled below $40 a barrel for the first time in a month, with a sell-off in equities and a stronger dollar exacerbating demand concerns as a lackluster summer driving season draws to a close.
Oil Rises on Signs US Crude Stockpiles Fell for a Sixth Week
Oil rose on signs a glut was easing with U.S. crude stockpiles shrinking for a sixth week.
Oil Stuck Near $43 as Hurricane Laura Spares US Oil Industry
Oil stayed in its recent tight range after Hurricane Laura swept through the U.S. energy heartland without appearing to inflict major damage on key infrastructure.
Now a Category 4 Hurricane, Laura Could Bring ‘Unsurvivable’ Storm Surge
DELCAMBRE, La. — Laura strengthened Aug. 26 into a menacing Category 4 hurricane, raising fears of a 20-foot storm surge that forecasters said would be “unsurvivable” and capable of sinking entire communities. Authorities implored coastal residents of Texas and Louisiana to evacuate and worried that not enough had fled.
August 26, 2020Trump’s Arctic Oil Drilling Plan Will Be Tested in Court
Environmentalists and Alaska natives are challenging the Trump administration’s decision to sell drilling rights in the Arctic National Wildlife Refuge, arguing the government gave short shrift to the impact on polar bears and the region’s other wildlife.
Oil Set for Weekly Drop in Wake of Sluggish Global Economies
Oil is poised for the first weekly decline this month as signs of stumbling recoveries in major economies from Europe to Asia threaten to delay a demand rebound.