Oil Drops to Seven-Month Low as Libya Adds to Persistent Surplus

pumpjack J. N. Stuart/Flickr

Oil dropped to the lowest in seven months amid a revival in output from Libya and rising volumes of fuel held in floating storage.

By Rakteem Katakey | Bloomberg News
June 20, 2017
Business, Fuel

Oil Prices Slide, Diesel Falls 3.5¢ to $2.489 a Gallon

Diesel trucks Daniel Acker/Bloomberg News

The U.S. average retail price of diesel dropped 3.5 cents to $2.489 a gallon, while the stubborn glut of crude caused oil prices to tumble to about $43 a barrel — a range last seen in early August — and into a bear market, experts said.

Staff and Wire Reports
June 19, 2017

Oil Tumbles to Lowest Since November as Gasoline Supplies Surge

Luke Sharrett/Bloomberg News

Oil slipped to the lowest since November as weaker demand at the start of the summer driving season led to another increase in gasoline stockpiles.

Jessica Summers and Meenal Vamburkar | Bloomberg News
June 14, 2017

Crude Falls for Third Week as Glut Persists After OPEC Cuts

J. N. Stuart/Flickr

Oil fell for a third week as rising supplies from the United States to Nigeria to Libya showed that OPEC is still struggling to clear a global glut.

Jessica Summers | Bloomberg News
June 9, 2017
Business, Fuel

Oil Extends Decline as US Crude, Gasoline Stockpiles Rise

Daniel Acker/Bloomberg News

Oil tumbled to the lowest intraday level in four weeks June 7, as U.S. industry data showed an unexpected increase in crude inventories. Gasoline stockpiles also rose.

Meenal Vamburkar | Bloomberg News
June 7, 2017
Business, Fuel

Oil Drops as US Drilling Growth Threatens to Counter OPEC Cuts

Daniel Acker/Bloomberg News

Oil fell as U.S. drilling continued to rise, undermining the potential for even an extended OPEC output-reduction deal to rebalance the market.

Rakteem Katakey and Heesu Lee | Bloomberg News
March 20, 2017
Business, Fuel

Oil Executives Are Confident That the Future Is Bright

BP CEO Robert Dudley. Photo by Christophe Morin/Bloomberg News

Oil prices are down nearly 10% over the past month, leading some to wonder if we're set for a resumption of the plunge seen between 2014 and early 2016. Executives at oil companies, however, are optimistic.

Julie Verhage | Bloomberg News
March 13, 2017
Business, Fuel

Oil Slumps to Lowest This Year as Traders Focus on Record Supply

Daniel Acker/Bloomberg News

Oil slumped more than 5% to the lowest close this year after government data showed production cuts from OPEC and other producers have not been enough to reduce U.S. supplies.

Justin Sink | Bloomberg News
March 8, 2017
Business, Fuel

Corps of Engineers to Grant Dakota Access Oil Pipeline Easement

The U.S. Army Corps of Engineers said in a court filing it will grant Energy Transfer Partners LP the easement it needs to finish the controversial Dakota Access oil pipeline.

Meenal Vemburkar | Bloomberg News
February 7, 2017
Business, Fuel

Nanofibers Offer Finer Oil, Air Filtration, But Some in Maintenance Question Value

Steve Sturgess for Transport Topics

Nanofiber technology, already used in premium fuel filters, also is appearing in oil and air filters to help prevent maintenance problems on modern truck engines. Although nanofiber media offer improved performance, it comes at a cost.

Steve Sturgess | Contributing Writer
January 30, 2017