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Category: Energy


Energy, Industries

Oil is surging after a suspected torpedo attack on 2 tankers in the Gulf of Oman

June 13, 2019

Via: Business Insider

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 […]


Energy, Industries

Oil is nearing its biggest weekly loss this year as demand and trade-war woes combine in a ‘recipe for disaster’

May 24, 2019

Via: Business Insider

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 […]


Energy, Industries

These 15 countries, as home to largest reserves, control the world’s oil

May 22, 2019

Via: USA TODAY

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 […]


Energy, Industries

Oil prices head for 3% weekly gain as OPEC panel meeting convenes amid Middle East upheaval

May 17, 2019

Via: Market Watch

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 […]


Energy, Industries

The Occidental-Anadarko Petroleum Merger’s Crude Truth About Oil Prices

May 16, 2019

Via: Fortune

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 […]


Energy, Industries

Chevron Drops Out of Bidding War With Occidental for Anadarko Petroleum

May 9, 2019

Via: Fortune

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 […]


Energy, Uncategorized

Oil prices sink more than 2% as U.S.-China trade spat sparks demand concerns

May 7, 2019

Via: Market Watch

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 […]


Energy, Industries

U.S. oil prices drop on indication of domestic supply build; global Brent gains

May 1, 2019

Via: Market Watch

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 […]


Energy, Industries

BP first quarter earnings fall amid lower oil prices

April 30, 2019

Via: ABC News

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 […]


Energy, Industries

Energy companies lead the retreat for European stocks

April 24, 2019

Via: Market Watch

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, […]