Chevron Corp. agreed to buy Noble Energy Inc. for about $5 billion in shares as the oil giant looks to beef up in the Permian Basin amid the wreckage of the worst crude crash.
July 20, 2020crude oil
Business, Fuel
Kyle Grillot/Bloomberg News
Chevron to Buy Noble for $5 Billion in Rare Oil-Bust Deal
Kyle Grillot/Bloomberg News
Business, Fuel
Emissions rise from an oil refinery in Plock, Poland, on July 17. (Bartek Sadowski/Bloomberg News)
Oil Prices Tumble on Economic News, Cloudy Recovery
Emissions rise from an oil refinery in Plock, Poland, on July 17. (Bartek Sadowski/Bloomberg News)
Oil prices recently tumbled as a resurgence in coronavirus cases and impending U.S. layoffs darken the economic outlook.
July 17, 2020
Government, Business, Fuel
An oil rig stands in Cromarty, U.K., on June 23.(Jason Alden/Bloomberg News)
Oil Slips as Looming OPEC Supply Surge Adds to Demand Woes
An oil rig stands in Cromarty, U.K., on June 23.(Jason Alden/Bloomberg News)
Oil snapped its two-day rally amid a weaker demand outlook underscored by the OPEC+ alliance’s decision to taper production cuts and U.S. economic data signaling a slowing recovery in the labor market.
July 16, 2020
Government, Business, Fuel
A mobile offshore drilling unit stands at night in Cromarty, U.K., on June 23. (Jason Alden/Bloomberg News)
Oil Jumps After Trump Leans Against Further Chinese Sanctions
A mobile offshore drilling unit stands at night in Cromarty, U.K., on June 23. (Jason Alden/Bloomberg News)
Oil jumped to a four-month high after President Donald Trump indicated that he doesn’t want to add more sanctions against Chinese officials for now in a move to diffuse tensions with Beijing.
July 15, 2020
Government, Business, Fuel
An employee looks out over a Saudi Aramco facility in Saudi Arabia. (Simon Dawson/Bloomberg News)
Oil Falls on Signs OPEC+ Will Taper Cuts
An employee looks out over a Saudi Aramco facility in Saudi Arabia. (Simon Dawson/Bloomberg News)
Oil retreated before an OPEC+ committee meeting this week that may confirm the group’s intention to taper production cuts even as the coronavirus surges in many countries, including the U.S.
July 13, 2020
Business, Fuel
(Taylor Weidman/Bloomberg News)
Crude Oil Pares Weekly Decline on Optimism Over Virus Treatment
(Taylor Weidman/Bloomberg News)
Oil rebounded as a new virus treatment showed promising results, but rising COVID-19 cases continued to weigh on the market.
July 10, 2020
Business, Safety, Fuel
A driver gets tested for coronavirus at a testing center in Austin, Texas, on July 7. (Sergio Flores/Getty Images)
Oil Refineries in Texas Grapple With COVID-19 Outbreaks
A driver gets tested for coronavirus at a testing center in Austin, Texas, on July 7. (Sergio Flores/Getty Images)
Oil refineries aren’t being spared as COVID-19 sweeps through Texas, which is setting records for new infections and hospitalizations in the U.S. almost daily.
July 10, 2020
Government, Business, Fuel
Demonstrators protest the Dakota Access pipeline in Washington in 2017. (Andrew Harrer/Bloomberg News)
Energy Transfer Says It Won’t Shut Dakota Access Despite Ruling
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.
July 8, 2020
Business, Fuel
A staircase ascends an oil storage tank in Port Fourchon, La. (Luke Sharrett/Bloomberg News)
Oil’s Recovery Capped by Stubborn US Crude Glut, Dour Demand
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
Rail wagons for oil, fuel and liquefied gas cargo stand at a station in Russia on April 27. (Andrey Rudakov/Bloomberg News)
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. (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