crude oil
Government, Business, Fuel

Trump Seeks to Open Most US Coastal Waters to New Drilling


The Trump administration is proposing to open almost all U.S. coastal waters to oil drilling, including those off California and Florida where activists have fought for decades to spare delicate ecosystems from oil spills.

Jennifer A Dlouhy | Bloomberg News
January 4, 2018
Business, Fuel

Oil Rises to Two-Year High on US Stockpiles, Iran Unrest

A university student attends a protest inside Tehran University while a smoke grenade is thrown by anti-riot Iranian police, in Tehran, Iran, Dec. 30, 2017. AP Photo.

Oil climbed to the highest level in more than two years on estimates that U.S. crude stockpiles fell for a seventh week, while unrest continued in OPEC’s third-biggest producer.

Grant Smith | Bloomberg News
January 3, 2018
Business, Fuel

Oil Trades Near $57 as US Crude Stockpiles Seen Extending Drop

Pumping jacks stand near an Anadarko Petroleum Corp. oil rig site in Fort Lupton, Colo. Jamie Schwaberow/Bloomberg News

Oil traded near $57 a barrel for a third day before data expected to show that surplus crude inventories in the U.S. continued to diminish as global markets rebalance.

Grant Smith | Bloomberg News
December 19, 2017
Business, Equipment, Fuel

Goldman Says Big Oil Is Poised for Its Best Year in Decades

Daniel Acker/Bloomberg

Big Oil’s slump is over and industry domination beckons, according to Goldman Sachs Group Inc.

Kelly Gilblom and Nejra Cehic | Bloomberg News
December 14, 2017
Business, Technology, Equipment, Fuel

Electric Vehicles Could Displace 8 Million Barrels of Oil Per Day by 2040

Scania CV AB

An energy transition is underway. Solar and wind are being added in ever-greater numbers. Electric vehicles are becoming more commonplace. Meanwhile, policy makers are grappling with the right mix of policies to pay for it all.

Anindya Upadhyay and Iain Wilson | Bloomberg News
November 29, 2017
Business, Equipment, Fuel

Oil Climbs to Two-Year High as Stockpiles Fall Before OPEC Meets

Jim Gehrz/Minneapolis Star Tribune/MCT

Oil climbed to a two-year high as U.S. industry data showed crude stockpiles resumed declines and investors awaited a decision by OPEC on extending output cuts.

Ben Sharples and Grant Smith | Bloomberg News
November 22, 2017
Business, Fuel

US Oil Rises to 10-Month High as Stockpiles Seen Dropping

A freight trail full of tanker cars hauling crude oil crosses the plains near Trenton, N.D. Kevin G. Hall/MCT

Oil rose to the highest level since early January in New York on expectations that government data will confirm another drop in U.S. crude inventories as the global surplus recedes.

Grant Smith | Bloomberg News
November 1, 2017

Oil Set for Weekly Rise Amid Optimism on Re-Balancing Process

J. N. Stuart/Flickr;

Oil climbed Oct. 13 as dwindling U.S. crude stockpiles and near-record Chinese imports signaled the worldwide glut is eroding.

Jessica Summers | Bloomberg News
October 13, 2017
Business, Fuel

Oil Gains as Irma Weakens to Storm While US Refining Returns

Plywood covers the doors of a 7-Eleven Inc. store ahead of Hurricane Irma in Madeira Beach, Fla. Daniel Acker/Bloomberg News

Oil rose as Irma weakened to a tropical storm after hitting Florida, while Gulf Coast refining continued to recover following storm Harvey.

Grant Smith | Bloomberg News
September 11, 2017
Business, Fuel

US to Release Oil From Strategic Reserve Due to Harvey

crude oil pumpjacks Daniel Acker/Bloomberg News

The U.S. government is releasing half-a-million barrels of crude oil from the Strategic Petroleum Reserve to a Gulf Coast refinery as the region’s refining industry works to recover from the devastation of Harvey.

Tina Davis and Jessica Summers | Bloomberg News
August 31, 2017