Oil was near the highest in six weeks as major producers slash supply, and there are increasing signs that demand is recovering.
May 15, 2020crude oil
Government, Business, Fuel
Oil tankers are seen anchored in the Pacific Ocean above Long Beach, Calif., on May 1. (Patrick T. Fallon/Bloomberg News)
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. (Patrick T. Fallon/Bloomberg News)
Government, Business, Fuel
Pipelines run near oil storage tanks in Cushing, Okla. (Daniel Acker/Bloomberg News)
Oil Jumps to Five-Week High Amid Optimistic Demand Outlook
Pipelines run near oil storage tanks in Cushing, Okla. (Daniel Acker/Bloomberg News)
Oil surged to the highest level since early April on an improving outlook for crude demand, alongside a rally in broader markets.
May 14, 2020
Government, Business, Fuel
Crude oil storage tanks stand outside Midland, Texas, on April 24. (Matthew Busch/Bloomberg News)
Oil Shrugs Off First Decline in US Inventories Since January
Crude oil storage tanks stand outside Midland, Texas, on April 24. (Matthew Busch/Bloomberg News)
Oil fell despite the first U.S. stockpile decline since January.
May 13, 2020
Government, Business, Fuel
Oil storage tanks are seen in Cushing, Okla. (Daniel Acker/Bloomberg News)
Oil’s Scenario of Exhausted Storage Starts to Fade
Oil storage tanks are seen in Cushing, Okla. (Daniel Acker/Bloomberg News)
While the global oil market remains in a dire situation, it’s starting to look like the nightmare scenario envisioned for the past month might just be averted.
May 12, 2020
Government, Business, Fuel
Oil tankers are seen anchored in the Pacific Ocean near Long Beach, Calif., on May 1. (Patrick T. Fallon/Bloomberg News)
Oil Slips With Glut Concerns, Reversing Saudi Price Hike Boost
Oil tankers are seen anchored in the Pacific Ocean near Long Beach, Calif., on May 1. (Patrick T. Fallon/Bloomberg News)
Oil fell in a day of wild price swings as investors weighed supply-and-demand fundamentals against Saudi Arabia’s global price hike.
May 7, 2020
Government, Business, Fuel
Abdulaziz bin Salman, Saudi Arabia's energy minister, arrives in Vienna, Austria, ahead of the 177th OPEC meeting in December 2019. (Stefan Wermuth/Bloomberg News)
Oil Jumps After Saudi Arabia Raises Prices to Boost Recovery
Abdulaziz bin Salman, Saudi Arabia's energy minister, arrives in Vienna, Austria, ahead of the 177th OPEC meeting in December 2019. (Stefan Wermuth/Bloomberg News)
Oil surged after Saudi Arabia raised prices for its crude globally.
May 7, 2020
Business, Fuel
(Andrey Rudakov/Bloomberg News)
Oil Slides With Glut Concerns Eclipsing Demand Recovery
(Andrey Rudakov/Bloomberg News)
Oil declined as data showing rebounding demand wasn’t enough to offset ballooning inventories.
May 6, 2020
Government, Business, Fuel
An oil tanker is seen anchored in the Pacific Ocean above Long Beach, Calif., on May 1. (Patrick T. Fallon/Bloomberg News)
Oil Extends Recovery on Optimism Supply Cuts Will Trim Glut
An oil tanker is seen anchored in the Pacific Ocean above Long Beach, Calif., on May 1. (Patrick T. Fallon/Bloomberg News)
Oil’s recovery from last month’s epic plunge accelerated as production cuts start to whittle down a supply glut and more economies ease their coronavirus lockdowns.
May 5, 2020
Business, Fuel
Oil tankers are seen anchored in the Pacific Ocean above Long Beach, Calif., on May 1. (Patrick T. Fallon/Bloomberg News)
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. (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 tankers are seen anchored in the Pacific Ocean above Long Beach, Calif., on May 1. (Patrick T. Fallon/Bloomberg News)
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. (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