Category: Energy

June 13, 2019

The price of oil surged on Thursday after a suspected attack on two tankers in the Gulf of Oman. One of the vessels, Front Altair, was “suspected of being hit by a torpedo,” according to the Associated Press, citing Taiwan’s […]

May 24, 2019

Oil prices slumped more than 5% on Thursday, leaving them poised to record their biggest weekly fall this year. The decline reflects a cocktail of factors including disappointing American manufacturing data, rising US shale production, softer demand from refineries, and […]

May 22, 2019

Oil is a natural resource formed by the decay of organic matter over millions of years. And like many other natural resources, oil cannot be produced, only extracted where it already exists. Unlike every other natural resource, oil is the […]

May 17, 2019

Oil futures climbed Friday for a fourth straight session, taking both benchmarks to weekly gains of 3% or more, as any potential demand worries tied to stock-market volatility were offset by supply concerns linked to Middle East tensions. West Texas […]

May 16, 2019

On the last Friday in April, Warren Buffett got a call from Brian Moynihan, the CEO of Bank of America, asking if he would back Occidental Petroleum’s underdog bid for rival oil driller Anadarko. Two days later, Occidental CEO Vicki […]

May 9, 2019

Chevron Corp. is abandoning its $33 billion offer for oil driller Anadarko Petroleum Corp., the culmination of a month-long bidding war in which Occidental Petroleum Corp. prevailed over a rival five times its size. The most ambitious foray of Chevron […]

May 7, 2019

Crude-oil prices dropped on Tuesday amid lingering worries about a protracted trade conflict between the U.S. and China, which could hurt demand for the commodity. “Oil prices remain volatile, with concerns a trade war could have reduced demand battling for […]

May 1, 2019

Oil prices took to split paths early Wednesday, with U.S.-priced crude lower after a snapshot of production data revealed a U.S. inventory build. But the international benchmark Brent maintained modest gains, to build on a strong April showing. “WTI oil […]

April 30, 2019

Energy producer BP says first quarter earnings fell 9% amid lower oil prices. The London-based company says underlying replacement cost profit — the industry’s preferred measure of performance because it strips out one-time items and changes in inventory values— fell […]

April 24, 2019

European markets gave back much of Tuesday’s gains as strong earnings elsewhere could not offset oil companies’ retreat. How did markets perform? The Stoxx 600 SXXP, +0.09% was down 0.1% to 390.9, after rising 0.2% on Tuesday. Germany’s DAX DAX, […]