Tag: crude oil

September 8, 2021

Benchmark U.S. crude oil for October delivery rose 95 cents to $69.30 a barrel Wednesday. Brent crude oil for November delivery rose 91 cents to $72.60 a barrel. Wholesale gasoline for October delivery was unchanged at $2.13 a gallon. October […]

July 6, 2021

The latest OPEC+ meeting was called off Monday after the UAE and Saudi Arabia failed to agree on the end date for current production cuts. While the UAE accepted the proposed raising of output by 2 million barrels a day, […]

September 14, 2020

LONDON — Developing countries’ difficulty in containing the spread of the coronavirus pandemic will keep a lid on global oil demand, particularly in India, the OPEC cartel said Monday as it cut its forecasts. OPEC cut its estimates for world […]

April 2, 2020

Energy stocks propelled the broader stock market higher Thursday, driven by a surge in crude prices on hopes that Saudi Arabia and Russia could step back from their price war. The Dow Jones industrial average jumped 300 points, a day […]

March 9, 2020

Oil futures plunged to a four-year low Monday, on track for the biggest one-day drop since 1991 as OPEC and Russia appear headed for an all-out price war — shaking a market already reeling from the demand shock created by […]

January 6, 2020

PROVIDENCE, Rhode Island — The global benchmark for crude oil rose above $70 a barrel on Monday for the first time in over three months, with jitters rising over the escalating military tensions between Iran and the United States. The […]

January 3, 2020

LONDON — The price of oil surged Friday as global investors were gripped with uncertainty over the potential repercussions after the United States killed Iran’s top general. News that Gen. Qassem Soleimani, head of Iran’s elite Quds Force, was killed […]

August 30, 2019

Oil futures fell Friday, but the U.S. benchmark remains on track for a more-than-3% weekly rise after a large fall in U.S. inventories and some cautious optimism on trade. West Texas Intermediate crude for the October delivery CLV19, -1.32% fell […]

August 16, 2019

U.S. President Donald Trump’s sanctions against Iran and Venezuela have inadvertently increased demand for a Russian brand of crude oil, boosting revenues for the nation’s exporters. Russian oil companies received at least $905 million in additional revenues between November and […]

July 1, 2019

U.S. oil prices snapped back with modest gains Monday, building on the more than 9% jump for the month of June, as major producers said they’ll hold back in pushing more oil onto the global market. August West Texas Intermediate […]

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 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, […]

December 28, 2018

Job growth in the Lone Star State will likely weaken in the first half of 2019 if oil prices remain at current levels, according to the Federal Reserve Bank of Dallas. Changes in Texas job growth tend to lag big […]

November 2, 2018

U.S. oil prices are at a six-month low and saw an especially sharp drop in October. Record production in the U.S. and an agreement by OPEC to raise supply may be responsible. But the bank Goldman Sachs says there are […]

August 10, 2018

As China made good on its threat to impose 25% tariffs on $16 billion worth of U.S. imports, one big-ticket item originally on its hit list was conspicuously missing: crude oil. Oil had been one of a slate of targets […]

July 17, 2018

U.S. Senator Chuck Grassley, along with a fellow Republican and two Democratic lawmakers, introduced legislation in the Senate that’s aimed at allowing the government to bring lawsuits against OPEC members for antitrust violations. Lawmakers in the other chamber of Congress, […]

June 22, 2018

VIENNA — Major oil-producing countries moved on Friday toward an agreement to jointly raise production of crude, a shift that brings a symbolic end to an output-capping deal that more than doubled prices but that drew the ire of President […]

June 6, 2018

Oil prices moved a leg higher on Wednesday, extending the prior day’s gains after reports Venezuela may not deliver some of its contracted crude oil exports amid political upheaval. Production and exports in Venezuela have recently been hit hard by […]

June 4, 2018

Airline profits are set to take a hit from the rise in oil prices and other increasing costs this year. The International Air Transport Association, a global industry group, has slashed its forecast for total profits for the global airline […]

May 7, 2018

Energy stocks are leading U.S. indexes higher in early trading as the price of crude oil climbs. Exxon Mobil added 1.2 percent early Monday, and Schlumberger rose 1.2 percent. The gains came as the price of U.S. crude oil traded […]