crude oil

Government, Business, Fuel

Energy Transfer Says It Won’t Shut Dakota Access Despite Ruling

Demonstrators protest the Dakota Access pipeline in Washington in 2017. Demonstrators protest the Dakota Access pipeline in Washington in 2017. (Andrew Harrer/Bloomberg News)

Energy Transfer LP said it’s not making any moves to empty its Dakota Access oil pipeline after a judge July 6 ordered the conduit shut while a more robust environmental review is conducted.

Simon Casey | Bloomberg News
July 8, 2020
Business, Fuel

Oil’s Recovery Capped by Stubborn US Crude Glut, Dour Demand

A staircase ascends an oil storage tank in Port Fourchon, La. A staircase ascends an oil storage tank in Port Fourchon, La. (Luke Sharrett/Bloomberg News)

Oil’s recent rally has hit a ceiling, with U.S. crude inventories holding near a record high and gasoline demand still at the weakest seasonal level in more than 20 years.

July 8, 2020
Government, Business, Fuel

Oil’s Rally Falters in US With Summer Demand Looking Bleak

Rail wagons for oil, fuel and liquefied gas cargo stand at a station in Russia on April 27. Rail wagons for oil, fuel and liquefied gas cargo stand at a station in Russia on April 27. (Andrey Rudakov/Bloomberg News)

U.S. crude futures reversed course with investors concerned that lackluster demand through the summer months will weigh on the market’s recovery.

July 6, 2020
Government, Business, Fuel, Logistics

Judge Orders Dakota Access Pipeline Shut Down Pending Review

President Trump signs one of five executive orders related to the oil pipeline industry on Jan. 24, 2017. A federal judge on July 6 ruled that the Dakota Access Pipeline needed to cease operations in 30 days. President Trump signs one of five executive orders related to the oil pipeline industry on Jan. 24, 2017. A federal judge on July 6 ruled that the Dakota Access Pipeline needed to cease operations in 30 days. (Shawn Thew/Bloomberg News)

A federal judge on July 6 sided with the Standing Rock Sioux Tribe and ordered the Dakota Access pipeline to shut down until more environmental review is done.

Dave Kolpack | Associated Press
July 6, 2020
Government, Business, Fuel, Logistics

OPEC Cuts Output to Lowest Since 1991 as Virus Slams Oil Demand

Flames burn off an oil processing facility in Saudi Arabia in October 2018. Flames burn off an oil processing facility in Saudi Arabia in October 2018. (Simon Dawson/Bloomberg News)

OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again.

Grant Smith and Julian Lee | Bloomberg News
July 1, 2020
Government, Business, Fuel, Logistics

Saudi Oil Cuts Take Seven Supertankers a Day Off the Market

Oil tankers are seen off the coast of California on May 1. Oil tankers are seen off the coast of California on May 1. (Patrick T. Fallon/Bloomberg News)

Saudi Arabia seems to have made good on its promise to cut oil production by a record amount in June.

Brian Wingfield | Bloomberg News
June 30, 2020
Government, Business, Safety, Fuel

Second Virus Wave Threatens US Oil Demand Again

Vehicles drive in light traffic along Pacific Coast Highway in Santa Monica, Calif., on March 19. Vehicles drive in light traffic along Pacific Coast Highway in Santa Monica, Calif., on March 19. (Patrick T. Fallon/Bloomberg News)

After months of empty roads, lockdowns were easing, and people were getting behind the wheel again. Then the virus struck again.

June 29, 2020
Government, Business, Fuel, Logistics

Oil Rises on Russian Export Cuts, Offsets Virus Demand Jitters

Oil refineries and storage tanks are seen from a boat off the coast of Singapore on May 25. Oil refineries and storage tanks are seen from a boat off the coast of Singapore on May 25. (Lauryn Ishak/Bloomberg News)

Oil prices rose after Russia slashed exports of its flagship crude Urals to the lowest in at least 10 years, signaling the determination of Moscow to work with its partners at OPEC+ to eliminate an oil glut.

Hailey Waller | Bloomberg News
June 25, 2020
Business, Fuel

Oil Hovers Near $40 With Investors Weighing Virus Against Demand

Emissions rise from an oil refinery in Louisiana on June 12. Emissions rise from an oil refinery in Louisiana on June 12. (Luke Sharrett/Bloomberg News)

Oil hovered near $40 a barrel in New York as investors weighed a resurgence in the coronavirus against signs of rebounding demand.

June 22, 2020
Government, Business, Fuel

US Slaps Sanctions on Mexican Companies Helping Venezuelan Oil

The sun sets over an oil refinery in Puerto Cabello, Venezuela. The sun sets over an oil refinery in Puerto Cabello, Venezuela. (Meridith Kohut/Bloomberg News)

The U.S. Treasury Department levied sanctions on Mexican trading company Libre Abordo SA de CV for buying Venezuelan oil via oil-for-humanitarian-aid agreements with the embattled country.

Lucia Kassai | Bloomberg News
June 19, 2020

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