crude oil

Government, Business, Fuel, Logistics

Oil Traders Snap Up Tankers in Sign Second-Wave Glut Is Near

Oil tankers sit anchored off the coast of Long Beach, Calif., on April 22. Oil tankers sit anchored off the coast of Long Beach, Calif., on April 22.(Tim Rue/Bloomberg News)

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.

September 11, 2020
Government, Business, Fuel, Logistics

Oil Market Buckles Under Pressure of Pandemic’s Second Wave

Gas flares from pipes burn aboard an offshore platform in the Persian Gulf's Salmon Oil Field. Gas flares from pipes burn aboard an offshore platform in the Persian Gulf's Salmon Oil Field. (Ali Mohammadi/Bloomberg News)

Six months after the coronavirus pandemic’s initial punch, signs of a second wave are already emerging in the oil market.

September 9, 2020
Government, Business, Fuel

Oil Sinks With Equities on Wavering Hopes for Demand Pickup

An oil pumping jack operates in Russia. (Andrey Rudakov/Bloomberg News)

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.

Andres Guerra Luz | Bloomberg News
September 4, 2020
Business, Fuel

Oil Rises on Signs US Crude Stockpiles Fell for a Sixth Week

Signage is displayed outside an oil refinery in Kentucky. Signage is displayed outside an oil refinery in Kentucky on July 28. (Luke Sharrett/Bloomberg News)

Oil rose on signs a glut was easing with U.S. crude stockpiles shrinking for a sixth week.

September 2, 2020
Government, Business, Safety, Fuel

Oil Stuck Near $43 as Hurricane Laura Spares US Oil Industry

Hurricane Laura appears largely to have spared oil infrastructure in the Gulf Coast. The CITGO Petroleum Corp. Lake Charles Refinery is seen in Louisiana on Aug. 26, ahead of Hurricane Laura's landfall. (Bryan Tarnowski/Bloomberg News)

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.

Ann Koh and Alex Longley | Bloomberg News
August 28, 2020
Government, Business, Safety, Fuel

Now a Category 4 Hurricane, Laura Could Bring ‘Unsurvivable’ Storm Surge

A GOES-16 GeoColor satellite image taken Aug. 26 at 2:40 p.m. EDT of Hurricane Laura A GOES-16 GeoColor satellite image taken Aug. 26 at 2:40 p.m. EDT. (NOAA via AP)

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, 2020
Government, Business, Safety, Fuel

Trump’s Arctic Oil Drilling Plan Will Be Tested in Court

Environmentalists and Alaska natives are challenging the decision to sell drilling rights in ANWR. The Arctic National Wildlife Refuge in Alaska. (US Fish and Wildlife Service/Getty Images)

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.

Jennifer A. Dlouhy | Bloomberg News
August 24, 2020
Government, Business, Fuel

Oil Set for Weekly Drop in Wake of Sluggish Global Economies

Oil pumping jacks operate in a Russian oilfield on Aug. 16. Oil pumping jacks operate in a Russian oilfield on Aug. 16. (Andrey Rudakov/Bloomberg News)

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.

Andres Guerra Luz | Bloomberg News
August 21, 2020
Business, Fuel, Logistics

World’s Largest Offshore Rig Owner Valaris Goes Bankrupt

An offshore drilling unit stands outside Cromarty, U.K. (Jason Alden/Bloomberg News)

Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Aug. 19 as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load.

August 19, 2020
Government, Business, Fuel

US Approves Oil, Gas Leasing Plan for Alaska Wildlife Refuge

An airplane flies over caribou in the Arctic National Wildlife Refuge. An airplane flies over caribou in the Arctic National Wildlife Refuge. (U.S. Fish and Wildlife Service via Associated Press)

The Trump administration on Aug. 17 took another step to opening Alaska’s Arctic National Wildlife Refuge to drilling for oil and gas, potentially fulfilling a decadeslong dream for Republicans.

Mark Thiessen | Associated Press
August 17, 2020

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