crude oil

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
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

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