crude oil

Business, Fuel

Oil Slips With Global Viral Resurgence Highlighting Demand Risks

An oil pumping jack operates in an oilfield in Russia in November 2020. An oil pumping jack operates in an oilfield in Russia in November 2020. (Andrey Rudakov/Bloomberg News)

Oil ended a choppy session lower with worsening global coronavirus outbreaks accentuating concerns over a demand rebound.

January 21, 2021
Government, Business, Fuel

Oil Tanker Owners Pay to Move Crude in Wake of Supply Cuts

Iranian oil tanker Grace 1 sits anchored off the Strait of Gibraltar in July 2019. (Marcelo del Pozo/Bloomberg News)

Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s main trade route.

Alex Longley | Bloomberg News
January 20, 2021
Business, Fuel

Oil Slumps on Dollar Strength, Cooling Consumer Sentiment

Emissions rise from an oil refinery in Norco, La., in June 2020. (Luke Sharrett/Bloomberg News) Emissions rise from a refinery in Norco, La., in June 2020. (Luke Sharrett/Bloomberg News)

Oil slid by the most in three weeks as a stronger dollar and weak U.S. economic data stoked concerns over an economic rebound.

Andres Guerra Luz | Bloomberg News
January 15, 2021
Government, Business, Fuel

Saudis Curb Oil Supply to Some Buyers After Vow to Pump Less

The Gemini Star oil tanker, owned by a subsidiary of Saudi Aramco, is seen with a tug boat. The Gemini Star oil tanker, owned by a subsidiary of Saudi Aramco, is seen with a tug boat. (Dana Smillie/Bloomberg News)

Saudi Arabia reduced crude oil supplies to at least 11 refiners in Asia and most buyers in Europe after the kingdom volunteered to cut its production by 1 million barrels a day for February and March.

January 13, 2021
Government, Business, Fuel, Logistics

Exports Boosted US Shale Market, but Long-Term Demand Uncertain

The Theo T oil tanker sits docked at a facility in Corpus Christi, Texas, in December 2015. The Theo T oil tanker sits docked at a facility in Corpus Christi, Texas, in December 2015. (Bloomberg News)

These past five years could very well go down as the best years that U.S. shale oil exporters will ever see.

January 12, 2021
Business, Fuel

Oil Dips Below $52 With Dollar Rising as Rally Takes Breather

The Royal Vopak NV oil storage terminal sits in Rotterdam, Netherlands, in December 2020. The Royal Vopak NV oil storage terminal sits in Rotterdam, Netherlands, in December 2020. (Peter Boer/Bloomberg News)

Oil fell as the dollar strengthened, with the steam coming out of a rally that pushed crude to the highest level in 10 months.

January 11, 2021
Government, Business, Fuel, Logistics

US Imports No Saudi Crude Oil for First Time in 35 Years

An oil pumping jack operates in Texas. (Matthew Busch/Bloomberg News) An oil pumping jack operates in Texas. (Matthew Busch/Bloomberg News)

The U.S. didn’t import any Saudi crude the week of Dec. 28 for the first time in 35 years, a reversal from just months ago when the Kingdom threatened to upend the American energy industry by unleashing a tsunami of exports into a market decimated by the pandemic.

Sheela Tobben | Bloomberg News
January 6, 2021
Government, Business, Fuel

Crude Climbs in Wake of Weaker Dollar, Expected Supply Drop

Tanker trucks sit in front of storage silos in Sunray, Texas, on Sept. 26. (Angus Mordant/Bloomberg News) Tanker trucks sit in front of storage silos in Sunray, Texas, on Sept. 26. (Angus Mordant/Bloomberg News)

Oil advanced with support from a weaker dollar and expectations of declining U.S. crude inventories.

December 29, 2020
Government, Business, Fuel

Oil’s Brief Rally Fades With Supply Risks Countering Stimulus

Gas flares burn from pipes aboard an offshore oil platform. (Ali Mohammadi/Bloomberg News) Gas flares burn from pipes aboard an offshore oil platform. (Ali Mohammadi/Bloomberg News)

A brief rally in crude oil deflated Dec. 28 as investors ignored a broader market surge that pushed equities to an all-time high and focused instead on looming new supply from OPEC+.

December 28, 2020
Business, Fuel

Oil Advances to Eight-Month High on Demand Optimism

Fuel storage tanks stand in California on April 23. (David Paul Morris/Bloomberg News) Fuel storage tanks stand in California on April 23. (David Paul Morris/Bloomberg News)

Oil extended gains, trading at its highest level since March, on mounting optimism that recent breakthroughs on a COVID-19 vaccine will lead to a swift recovery in global energy demand next year.

November 25, 2020

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