Category: Energy

June 22, 2020

Oil futures on Monday headed lower amid rising cases of the COVID-19 pandemic, but the improved outlook for long-term global demand has sparked one major investment bank to raise price targets for the commodity for this year and the next […]

June 15, 2020

LONDON — Energy company BP is writing down its oil and gas assets by as much as $17.5 billion and will review its plans to develop oil wells as the shock to the industry and world demand from the COVID-19 […]

June 11, 2020

The coronavirus pandemic has sent economies into recession and reduced government revenue, so some countries are taking a politically perilous path: removing restraints on electricity and petroleum prices. Nigeria and Tunisia have lowered fuel subsidies in recent weeks, and India […]

June 9, 2020

Crude-oil prices traded sharply lower early Tuesday for a second straight session as worries about the lack of compliance with a recent pact to cut production by a number of major producers pressured futures into negative territory. Analyst at Goldman […]

June 3, 2020

Oil futures headed lower on Wednesday after settling at a three-month high in the prior session, amid reports that a meeting of crude producers won’t happen on Thursday as had been expected, raising doubts about a willingness to substantially extend […]

May 26, 2020

Oil futures traded higher Tuesday, encouraged by continued cuts in crude production and a pickup in demand as pandemic-related lockdowns ease around the world. “Supply and demand are both trending bullish for prices of late, with recent estimates citing a […]

May 19, 2020

U.S. oil prices were slightly higher early, as a contract expiration, which roiled markets last month, comes back into focus, but this time amid a market that appears to be demonstrating signs of better supply-demand alignment. The June Nymex contract […]

May 12, 2020

DUBAI, United Arab Emirates — Saudi Aramco, the kingdom’s energy producer, announced on Tuesday a net income of $16.7 billion for the first three months of the year and dividends of $18.75 billion for shareholders. Despite posting the highest quarter […]

May 7, 2020

Crude oil futures climbed sharply on Thursday, at least partly supported by Saudi Arabia’s decision to lift prices to help stabilize values, while China’s appetite for the commodity picked up in April compared with prior months. Saudi Arabia, the most […]

May 4, 2020

U.S. oil prices headed lower early Monday, with persistent worries about a flare up in tensions between China and the U.S. over the former’s handling of the outbreak of the novel strain of coronavirus seen as one catalyst for a […]