crude oil

Business, Fuel

Oil Trades Near Two-Week High on Tighter Supply, Mideast Risks

Oil Andrey Rudakov/Bloomberg News

Oil traded near a two-week high in New York amid signs of a further drop in U.S. stockpiles and ongoing concerns that political friction in the Persian Gulf could disrupt exports.

Heesu Lee and Grant Smith | Bloomberg News
July 31, 2019
Government, Fuel

Millions of Barrels of Iran Oil Are Sitting in China’s Ports

Oil tanker A crewmember handles an oil drum aboard the deck of the oil tanker Devon. (Ali Mohammadi/Bloomberg)

Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world’s biggest buyer.

July 22, 2019
Business, Fuel

Oil Heads for Worst Week Since May Amid US-Iran Tensions

Oil Vincent Mundy/Bloomberg News

Oil surrendered an early gain July 19 as Tehran denied President Donald Trump’s claim that the U.S. downed an Iranian drone near the Strait of Hormuz, an assertion which had earlier helped oil snap back from four days of losses.

Harkiran Dhillon | Bloomberg News
July 19, 2019
Government, Business, Fuel

Oil Trades Near Seven-Week High Amid Gulf Storm, 2020 Outlook

Oil Anindito Mukherjee/Bloomberg News

Oil traded near a seven-week high as supply risks from a storm in the Gulf of Mexico and falling U.S. stockpiles were countered by a weak market outlook from OPEC in 2020.

July 11, 2019
Government, Business, Fuel

Canadian Oil Firms Offer to Ship by Rail if Output Limits Ease

Canada James MacDonald/Bloomberg News

Canada’s oil-sands producers are offering to commit to shipping a certain amount of their crude by rail in return for the Alberta government raising its production limits.

July 9, 2019
Business, Fuel

Oil Holds Above $57 as Iran Tension Stirs Concern Over Supply

Oil Vincent Mundy/Bloomberg News

Oil held above $57 a barrel as rising tension in the Middle East kept investors wary of potential supply disruptions. Futures were little changed in New York after rallying 2.2% since July 3.

July 8, 2019
Government, Business, Fuel

Oil Reaches 5-Week High on Biggest Drop in Stockpiles Since 2016

Bloomberg News

Oil rose to a five-week high as a huge drop in U.S. crude inventories bolstered the outlook for demand. Futures in New York climbed 2.7% June 26 after the U.S. Energy Information Administration said domestic stockpiles fell by 12.8 million barrels last week.

Alex Nussbaum | Bloomberg News
June 26, 2019
Business, Fuel

Diesel Drops 1.5¢ to $3.136; Oil Close to Bear Market Price

Diesel pump Diesel costs 14.9 cents more than it did a year ago when it was $2.987, DOE said June 3. (Thinkstock)

The U.S. average retail price of diesel dropped 1.5 cents to $3.136 a gallon, the Department of Energy reported. Crude oil plunged to $53 a barrel and flirted with a bear market as the tensions surrounding international trade mounted.

June 3, 2019
Government, Business

Trump Tariff on Mexican Oil Could Hit Gulf Refiners

Mexico Susana Gonzalez/Bloomberg News

U.S. oil refiners could get hit if crude is included in President Donald Trump’s threatened 5% tariff on Mexican goods, although the effect may be tempered by their growing fuel exports.

David Marino | Bloomberg News
May 31, 2019
Government, Technology, Fuel

Energy Secretary Rick Perry Says US Can Make Fossil Fuels Cleaner

Rick Perry U.S. Energy Secretary Rick Perry at an energy conference in Salt Lake City. (Rick Bowmer/Associated Press)

The Trump administration is committed to making fossil fuels cleaner rather than imposing “draconian” regulations on oil, gas and coal, U.S. Energy Secretary Rick Perry said May 30.

Brady McCombs | Associated Press
May 30, 2019