crude oil

Government, Business, Fuel

Oil Jumps Past $45, Dow Eclipses 30,000

Crude oil pipework is seen in an oilfield in Russia. Crude oil pipework is seen in an oilfield in Russia. (Andrey Rudakov/Bloomberg News)

Oil reclaimed heights not seen since the pandemic shocked markets in the spring, with the start of the U.S. presidential transition and improved vaccine prospects infusing optimism across markets.

Andres Guerra Luz | Bloomberg News
November 24, 2020
Business, Fuel

Oil Poised for Weekly Increase on COVID-19 Vaccine Optimism

A pumpjack is silhouetted as it operates in Azerbaijan. Taylor Weidman/Bloomberg News

Oil is poised for a third weekly gain with positive COVID-19 vaccine developments paving the way for a more sustained recovery in oil demand.

Andres Guerra Luz | Bloomberg News
November 20, 2020
Government, Business, Fuel

Oil Clings to Rally on Signs of Coronavirus Vaccine Progress

Oil storage tanks are seen in Louisiana. Luke Sharrett/Bloomberg News

Crude held onto a rally amid progress on the development of coronavirus vaccines, with investors shrugging off a smaller-than-expected U.S. inventory build.

Andres Guerra Luz | Bloomberg News
November 18, 2020
Government, Business, Fuel, Logistics

China Oil Giant Eyes New Supertankers to Shrink Diesel Glut

A crew member reaches for a rope at the Grace 1 supertanker. Marcos Moreno/Associated Press

China’s biggest refiner is eyeing a creative strategy to help rid Asia of a persistent diesel glut — brand new supertankers usually reserved for crude oil.

November 12, 2020
Government, Business, Fuel

Stocks Rally, Crude Oil Jumps on Election Day

I Voted stickers A roll of "I Voted" stickers at a county courthouse in Maywood, Ill. (Charles Rex Arbogast/AP)

U.S. stocks rose as a gust of optimism swept through global equity markets as millions of Americans headed to vote. The dollar weakened and crude oil increased by the most in a month.

November 3, 2020
Government, Business, Fuel

OPEC+ Inches Closer to Delaying Output Hike After Russian Talks

An oil pumping jack operates in a Russian oilfield. Andrey Rudakov/Bloomberg News

OPEC+ inched closer to delaying its January output increase, with Russia actively discussing keeping its current curbs for an extra three months as oil markets weaken.

November 2, 2020
Government, Business, Fuel

Oil Poised for Worst Month Since March With Growing Curbs

An aerial view of workers operating a derrick in Russia. An aerial view of workers operating a derrick in Russia.(Bloomberg News)

Oil headed for its biggest monthly drop since March as renewed lockdown measures to contain the coronavirus threatened to upend a shaky demand recovery.

Andres Guerra Luz | Bloomberg News
October 30, 2020
Business, Fuel

Exxon Warns of $30 Billion Shale Writedown Amid Record Loss

Signage at an Exxon gas station in Houston on Oct. 28. Callaghan O'Hare/Bloomberg News

Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields as crashing energy demand and prices spurred a historic losing streak.

Kevin Crowley | Bloomberg News
October 30, 2020
Business, Fuel, Logistics

E-Commerce Boom Offers Lifeline for Oil

An Amazon Prime truck passes workers controlling traffic outside an Amazon fulfillment center. An Amazon Prime truck passes workers controlling traffic outside an Amazon fulfillment center in Staten Island, N.Y., on March 19. (Kathy Willens/Associated Press)

Look across the street from your home-office window: chances are you will see a delivery van.

October 28, 2020
Government, Business, Fuel

Oil Slumps Below $39 on Surging Virus and Libya Restart

A pump jack operates near Stratford, Texas, on Sept. 26. A pump jack operates near Stratford, Texas, on Sept. 26. (Angus Mordant/Bloomberg News)

Oil extended its slide to a second day on a cocktail of surging coronavirus cases in the U.S. and Europe, dwindling prospects for pre-election stimulus in Washington and a steady resumption of supply from Libya.

Alex Longley | Bloomberg News
October 26, 2020

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