crude oil

Government, Business, Fuel

Enbridge Pipeline Contracts Seen Putting Power in Refiner Hands

Anti-oil graffiti Graffiti reading "Respect The Sea, No Oil" is seen on a bridge in Massett, British Columbia, Canada. (Ben Nelms/Bloomberg News)

Enbridge Inc.’s plan to contract space on its Mainline oil pipeline system is drawing the ire of producers who argue the new system will give too much power to Midwest refiners.

August 28, 2019
Government, Business, Fuel

Iran Says Oil Aboard Tanker Pursued by US Sold to Unnamed Buyer

Renamed Adrian Aryra 1 super tanker The renamed Adrian Aryra 1 supertanker hosting an Iranian flag sails in the waters in the British territory of Gibraltar. (Marcos Moreno/AP)

TEHRAN, Iran — Iran on Aug. 26 announced that the 2.1 million barrels of crude aboard an Iranian oil tanker pursued by the United States have been sold to an unnamed buyer as the ship, at the center of a crisis roiling the region, continued its voyage in the Mediterranean Sea.

Nasser Karimi | Associated Press
August 26, 2019
Business, Fuel

Oil Steadies as US-China Trade Progress Allays Demand Concerns

Crude oil pipeline Simon Dawson/Bloomberg News

Oil steadied near $56 a barrel as hints of a trade detente between the U.S. and China, along with the prospect of monetary stimulus, buoyed financial markets.

August 20, 2019
Business, Fuel, TCA

Race Is on to Build Offshore Oil Export Terminals

Tanker at the Port of Corpus Christi The tanker Maria sails out of the Port of Corpus Christi. (Eddie Seal/Bloomberg)

A glut of oil is headed to the Gulf Coast. That development is triggering a race among a growing number of entrants to build deepwater crude export terminals in the Gulf of Mexico to ship most of that oil to foreign markets.

Jordan Blum | Houston Chronicle
August 16, 2019
Government, Business, Fuel

Energy Stocks in Canada ‘Decoupling’ From Oil Seen as Worst Ever

Suncor Millennium upgrader plant at the Athabasca Oil Sands near Fort McMurray, Alberta, Canada The Suncor Millennium upgrader at the Athabasca Oil Sands near Fort McMurray, Alberta, Canada, on Sept. 10, 2018. (Ben Nelms/Bloomberg News)

The days when energy stocks and the price of oil moved in lockstep are now few and far between. In Canada, it’s the worst divergence on record.

Michael Bellusci | Bloomberg News
August 14, 2019
Business, Fuel

Huge Euronav Tanker Starts 12,400-Mile Trip to Fuel-Storage Zone

Euronav logo on a vessel Euronav logo on one of its vessels by Euronav

The world’s biggest oil tanker has begun a 12,400-mile voyage to a fuel-storage zone in Asia, the latest movement of a vessel that has intrigued the shipping market and fuel traders for months.

August 13, 2019
Government, Business, Fuel

Russia, Iran, Others Debate How to Divide Caspian Oil Riches

Dmitry Medvedev and Gurbanguly Berdymukhamedov Russian Prime Minister Dmitry Medvedev (left) and Turkmenistan's President Gurbanguly Berdymukhamedov speak before the First Caspian Economic Forum in Turkmenbashi, Turkmenistan, on Aug. 12. (Dmitry Astakhov/Sputnik/Government Pool Photo via AP)

TURKMENBASHI, Turkmenistan — Five countries bordering the energy-rich Caspian Sea met Aug. 12 at an economic forum hosted by Turkmenistan in a bid to agree on how to divide the region’s oil wealth.

Alexander Vershinin | Associated Press
August 12, 2019
Government, Business, Fuel

Oil Jumps Most in Month as Saudi Action Outweighs Demand Worries

Oil Prices Surge Angus Mordant/Bloomberg News

Oil surged the most in nearly a month as investors digested Saudi Arabia’s latest plan to help stabilize prices following a large dip earlier in the week that was fueled by demand concerns.

Kiran Dhillon | Bloomberg News
August 9, 2019
Government, Business, Fuel

Pipelines Add Room on ‘Unrelenting’ Demand for Canada’s Oil

Oil Simon Dawson/Bloomberg News

U.S. refiners want more Canadian oil, and pipeline companies are finding ways to get it to them. Companies are adding space to their congested oil export pipelines from Canada even as plans for bigger expansions and new lines face delays.

Robert Tuttle | Bloomberg News
August 2, 2019
Business, Fuel

Oil Trades Near Two-Week High on Tighter Supply, Mideast Risks

Oil Andrey Rudakov/Bloomberg News

Oil traded near a two-week high in New York amid signs of a further drop in U.S. stockpiles and ongoing concerns that political friction in the Persian Gulf could disrupt exports.

Heesu Lee and Grant Smith | Bloomberg News
July 31, 2019