crude oil

Business, Fuel

Stocks Gain as Oil Extends Rally for Fourth Day

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)

U.S. stocks kicked off the week on a positive note, rallying late in the session to close higher as crude oil gained for a fourth consecutive day.

May 4, 2020
Business, Fuel

Oil Spread Tightens After Report Shows US Tanks Filling Slower

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 reversed losses as the pace of stockpile builds at the key U.S. storage hub slowed last week.

May 4, 2020
Government, Business, Fuel

Oil Climbs on Biggest Jump in US Gasoline Demand in 11 Months

A cyclist wearing a face mask rides past oil storage silos in Belgrade, Serbia, on April 28. A cyclist wearing a face mask rides past oil storage silos in Belgrade, Serbia, on April 28. (Oliver Bunic/Bloomberg News)

Oil rallied on optimism that consumption could gradually return as major producers continue to cut output to counter a global glut.

Olivia Raimonde | Bloomberg News
April 29, 2020
Business, Fuel

Oil Swings After Major Index Bails Out of June Contract

The silhouette of an electric oil pump jack is seen near a flare in the oil fields surrounding Midland, Texas. The silhouette of an electric oil pump jack is seen near a flare in the oil fields surrounding Midland, Texas. (Luke Sharrett/Bloomberg News)

Oil resumed losses after a brief bounce higher amid the aftershocks of a major index tracked by billions of dollars in funds exiting near-term contracts for fear prices may turn negative again.

Olivia Raimonde | Bloomberg News
April 28, 2020
Business, Fuel

Oil Plunges Back Below $12 With ETF Sell-Off Adding to Pressure

A chemical and oil product tanker sits at the Port of Rotterdam on April 21. A chemical and oil product tanker sits at the Port of Rotterdam on April 21. (Yuriko Nakao/Bloomberg News)

Oil slumped below $12 a barrel as the biggest oil ETF said it will sell out of its June WTI futures position, adding to the downward pressure from a huge glut.

Sharon Cho and Alex Longley | Bloomberg News
April 27, 2020
Government, Business, Fuel

Anguish Grows in Russia Oil Sector Overwhelmed by Price Fall

An illuminated oil drilling rig and drill pipes near Nizhnevartovsk, Russia in March 2017. An illuminated oil drilling rig and drill pipes near Nizhnevartovsk, Russia, in March 2017. (Andrey Rudakov/Bloomberg News)

As Russia’s small oil producers struggle to survive a historic price crash, some say in private they wish they could just set their crude ablaze.

April 23, 2020
Government, Business, Fuel

OPEC+ Ministers Hold Impromptu Call to Reflect on Price Rout

Lights illuminate oil storage tanks at night in Tuapse, Russia. Lights illuminate oil storage tanks at night in Tuapse, Russia. (Andrey Rudakov/Bloomberg News)

Oil ministers from the OPEC+ coalition held an unscheduled conference call on April 21 to discuss the collapse in crude prices, though a closing statement signaled they didn’t settle on any new policy measures.

April 21, 2020
Business, Fuel

Negative WTI Offers Glimpse of Future for Oil Market in Meltdown

Pumpjacks operate on oil wells in the Permian Basin in Crane, Texas, in 2018. Pumpjacks operate on oil wells in the Permian Basin in Crane, Texas, in 2018. (Bloomberg News)

Traders may have hoped that the April 20 collapse in U.S. oil prices below zero for the first time in history was an aberration.

Jack Farchy | Bloomberg News
April 21, 2020
Business, Fuel, Logistics

World’s Biggest Oil Storage Firm Says Almost All Space Sold

Storage containers stand at an oil terminal, operated by Koninklijke Vopak NV, at the Port of Rotterdam in Netherlands in April 2017. Storage containers stand at an oil terminal, operated by Koninklijke Vopak NV, at the Port of Rotterdam in Netherlands in April 2017. (Simon Dawson/Bloomberg News)

The world’s biggest independent oil storage company has all but run out of space for crude and refined products as a result of the fast-expanding glut that COVID-19 has created.

Fred Pals and Jack Wittels | Bloomberg News
April 21, 2020
Business, Fuel

Oil Plunges Below Zero for First Time in Unprecedented Fall

Oil storage tanks in Cushing, Okla. Oil storage tanks in Cushing, Okla. (Daniel Acker/Bloomberg News)

Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading.

April 20, 2020

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