crude oil

Business, Safety, Fuel

Fears of Second Virus Wave Fizzle Oil Market

A platform supply vessel sits anchored next to a deepwater oil platform in the Gulf of Mexico. A platform supply vessel sits anchored next to a deepwater oil platform in the Gulf of Mexico. (Luke Sharrett/Bloomberg News)

Oil fell again as a fresh coronavirus outbreak in China, and increases in cases elsewhere, spurred concerns that a second wave of the virus will derail a nascent economic recovery.

Ann Koh and Grant Smith | Bloomberg News
June 15, 2020
Business, Fuel

Texas Oil-Export Terminals Start Up Even as Shipments Tumble

An Iranian crude oil tanker sits anchored off the coast of Gibraltar in July 2019. (Marcelo del Pozo/Bloomberg News)

Yet another Texas terminal is preparing to export oil, even as the pandemic continues to hammer global demand for U.S. crude.

Sheela Tobben | Bloomberg News
June 12, 2020
Business, Fuel

Oil Set for First Weekly Drop Since April on Second-Wave Fears

Oil storage tanks stand in Japan in April. Oil storage tanks stand in Japan in April. (Toru Hanai/Bloomberg News)

Oil is heading for its first weekly loss since April, when prices collapsed below zero.

June 12, 2020
Government, Business, Fuel

US Targets Sanctions for Iran-Venezuela Oil Tanker Trade

An Iranian crude oil tanker sits anchored off the coast of Gibraltar in July 2019. An Iranian crude oil tanker sits anchored off the coast of Gibraltar in July 2019. (Marcelo del Pozo/Bloomberg News)

The Trump administration is preparing sanctions on as many as 50 oil and fuel tankers as part of an effort to cut off trade between Iran and Venezuela, according to a person familiar with the matter.

Saleha Mohsin | Bloomberg News
June 9, 2020
Government, Business, Fuel

Diesel Increases by a Penny; Gas Climbs Back Above $2

Truck getting filled with diesel A truck is filled with diesel at a Pilot Flying J in Princeton, Ill. (Daniel Acker/Bloomberg News)

The nationwide average price of a gallon of diesel increased by 1 cent to $2.396, according to the weekly report from the Energy Information Administration on June 8.

Dan Ronan | Associate News Editor
June 8, 2020
Business

Oil Erases Gains With Saudis Ending Extra Output Cuts

Oil The sulphuric acid regeneration facility (right) sits illuminated by lights during evening operations at the Bashneft-Ufaneftekhim oil refinery, operated by Bashneft PAO, in Ufa, Russia. (Andrey Rudakov/Bloomberg News)

Oil fell after Saudi Arabia said it wouldn’t continue its additional, deeper output curbs after June.

June 8, 2020
Government, Business, Safety, Fuel

Cristobal Expected to Regain Strength After Storm’s Pass Over Mexico

Heavy winds whip palm trees during Hurricane Dorian in Myrtle Beach, S.C., in September 2019. Heavy winds whip palm trees during Hurricane Dorian in Myrtle Beach, S.C., in September 2019. (Charles Mostoller/Bloomberg News)

The hills of the Yucatan Peninsula sapped Tropical Storm Cristobal of some of its power on June 4, but forecasters warn it will likely gain strength as it heads north across the Gulf of Mexico to the U.S coast, where it could bring downpours, high winds and rough surf.

Brian K. Sullivan | Bloomberg News
June 4, 2020
Business, Safety, Fuel

Cristobal Batters Mexico Before Heading North to Gulf Coast

Heavy winds whip palm trees during Hurricane Dorian in Myrtle Beach, S.C., in September 2019. Heavy winds whip palm trees during Hurricane Dorian in Myrtle Beach, S.C., in September 2019. (Charles Mostoller/Bloomberg News)

Tropical Storm Cristobal brought heavy rain to southern Mexico June 3, and with a forecast that has it re-entering the Gulf of Mexico within a day, oil-platform workers are already being evacuated.

Brian K. Sullivan | Bloomberg News
June 3, 2020
Government, Business, Fuel

OPEC+ Edges Closer to Compromise to Extend Deepest Ever Cuts

Oil workers position drilling pipes at an oilfield in Russia. Oil workers position drilling pipes at an oilfield in Russia. (Andrey Rudakov/Bloomberg News)

OPEC and its allies edged closer to a consensus on extending production cuts to prop up the oil market, even as wrangling continued for a third day about whether to bring forward their next meeting.

June 2, 2020
Government, Business, Fuel

Uncertainty About OPEC+ Cuts Has Oil Struggling to Sustain Rally

Oil tankers near the Port of Long Beach, Calif., in December 2009. (Bloomberg News)

OPEC+ and its allies will decide as soon as this week whether to extend their historic output curbs, yet how long and to what extent global production curtailments remain in place will be crucial to sustaining crude’s rally after a record rebound last month.

June 1, 2020

Pages