crude oil

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
Government, Fuel

Millions of Barrels of Iran Oil Are Sitting in China’s Ports

Oil tanker A crewmember handles an oil drum aboard the deck of the oil tanker Devon. (Ali Mohammadi/Bloomberg)

Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world’s biggest buyer.

July 22, 2019
Business, Fuel

Oil Heads for Worst Week Since May Amid US-Iran Tensions

Oil Vincent Mundy/Bloomberg News

Oil surrendered an early gain July 19 as Tehran denied President Donald Trump’s claim that the U.S. downed an Iranian drone near the Strait of Hormuz, an assertion which had earlier helped oil snap back from four days of losses.

Harkiran Dhillon | Bloomberg News
July 19, 2019
Government, Business, Fuel

Oil Trades Near Seven-Week High Amid Gulf Storm, 2020 Outlook

Oil Anindito Mukherjee/Bloomberg News

Oil traded near a seven-week high as supply risks from a storm in the Gulf of Mexico and falling U.S. stockpiles were countered by a weak market outlook from OPEC in 2020.

July 11, 2019
Government, Business, Fuel

Canadian Oil Firms Offer to Ship by Rail if Output Limits Ease

Canada James MacDonald/Bloomberg News

Canada’s oil-sands producers are offering to commit to shipping a certain amount of their crude by rail in return for the Alberta government raising its production limits.

July 9, 2019
Business, Fuel

Oil Holds Above $57 as Iran Tension Stirs Concern Over Supply

Oil Vincent Mundy/Bloomberg News

Oil held above $57 a barrel as rising tension in the Middle East kept investors wary of potential supply disruptions. Futures were little changed in New York after rallying 2.2% since July 3.

July 8, 2019
Government, Business, Fuel

Oil Reaches 5-Week High on Biggest Drop in Stockpiles Since 2016

Bloomberg News

Oil rose to a five-week high as a huge drop in U.S. crude inventories bolstered the outlook for demand. Futures in New York climbed 2.7% June 26 after the U.S. Energy Information Administration said domestic stockpiles fell by 12.8 million barrels last week.

Alex Nussbaum | Bloomberg News
June 26, 2019