crude oil

Business, Fuel

California’s Offshore Industry Under Fire After Oil Spill

Oil that has washed up on the shores of Huntington Beach Oil that has washed up on the shores of Huntington Beach. (Ariana Drehsler/Bloomberg News)

California's worst oil spill in almost 30 years has drawn fresh scrutiny of aging offshore oil and gas infrastructure around the world, built decades ago back before fracking, horizontal drilling and shale made ocean drilling less economic.

October 5, 2021
Business, Fuel

Oil Futures Fall 7.5%, Largest Decline Since September

Oil pumping jacks Oil pumping jacks in Russia. (Andrey Rudakov/Bloomberg News)

Oil was the biggest loser in a broad market selloff after OPEC+ agreed to boost crude supply as a resurgent virus shook investor confidence in the global economic recovery.

Jill R. Shah | Bloomberg News
July 19, 2021
Government, Business, Fuel

Key US Oil Storage Hub Seen Depleting as Producers Hold Tight

Pipelines run toward oil storage tanks in Cushing, Okla. (Daniel Acker/Bloomberg News) Pipelines run toward oil storage tanks in Cushing, Okla. (Daniel Acker/Bloomberg News)

Crude oil inventories in America’s largest storage hub are falling fast as the post-pandemic demand rebound continues to outpace production.

June 24, 2021
Government, Fuel

Diesel Price Nearly Flat; Increase Is Only Two-Tenths of a Cent

Trucker filling up with gasoline A fuel truck driver checks the gas tank level at a United Oil station in in Los Angeles. The national average price for a gallon of gasoline rose seven-tenths of a cent to $3.027. (Damian Dovarganes/Associated Press)

The national average price of diesel barely moved this past week, inching up two-tenths of a cent, according to Energy Information Administration data released May 31.

Dan Ronan | Associate News Editor
June 1, 2021
Government, Business, Fuel, Logistics

Oil Wavers With Talks Resuming on Potentially Reviving Iran Deal

Oil storage tanks stand in Louisiana. (Luke Sharrett/Bloomberg News) Luke Sharrett/Bloomberg News

Oil was little changed as investors weighed talks of higher Iranian supply against the prospect of a continued recovery in demand.

May 25, 2021
Government, Business, Fuel

Oil Climbs With US Demand Bump Driving Global Rebound Optimism

Thick black oil sits on the pipe work fitting of an oil pumping jack. (Andrey Rudakov/Bloomberg News) Thick black oil sits on the pipe work fitting of an oil pumping jack. (Andrey Rudakov/Bloomberg News)

Oil advanced to the highest intraday level in more than a month as a combination of declining U.S. petroleum product supplies and signs of stronger demand buttressed expectations for a revival in global consumption.

Andres Guerra Luz | Bloomberg News
April 28, 2021
Business, Fuel

Deep-Freeze Issues Linger at US Refineries

A Valero Energy Corp. refinery in Texas is seen on Feb. 19. (Eddie Seal/Bloomberg News) A Valero Energy Corp. refinery in Texas is seen on Feb. 19. (Eddie Seal/Bloomberg News)

Texas’ refining complex is mostly back from February’s crippling cold blast, but lingering freeze-related issues continue to plague a number of production units.

Barbara Powell | Bloomberg News
April 2, 2021
Government, Business, Fuel

Oil Rises After OPEC+ Agrees to Boost Output Gradually

Russian oil pumping jacks operate in November 2020. (Andrey Rudakov/Bloomberg News) Russian oil pumping jacks operate in November 2020. (Andrey Rudakov/Bloomberg News)

Oil rose after the OPEC+ alliance agreed to increase oil production gradually over the next three months.

April 1, 2021
Government, Business, Fuel, Logistics

Oil Rises for Second Day With Focus Moving Toward OPEC+ Meeting

A crude oil tanker sails through the Persian Gulf. (Ali Mohammadi/Bloomberg News) Ali Mohammadi/Bloomberg News

Oil climbed to the highest in almost two weeks as traders looked ahead to this week’s OPEC+ meeting with speculation that renewed demand concerns will spur the group to keep production in check.

March 29, 2021
Business, Fuel

Oil Production Slumps by Record 40% as Permian Freezes

Pump jacks operate in the Permian Basin in Midland, Texas, on Feb. 13. (Matthew Busch/Bloomberg News) Pump jacks operate in the Permian Basin in Midland, Texas, on Feb. 13. (Matthew Busch/Bloomberg News)

Total U.S. oil production has plunged by close to 40% — the most ever — as an unprecedented cold blast freezes well operations across the central U.S., according to traders and industry executives with direct knowledge of the operations.

February 17, 2021

Pages