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Oil pares losses after U.S. crude supplies decline a fourth week

NEW YORK (Bloomberg) -- Oil futures pared losses after U.S. government data showed crude stockpiles decreased a fourth week, reducing the glut. Crude inventories fell by 933,000 bbl last week, according to the U.S. Energy Information Admini......【More】

2016-06-16

Crude drops to three-week low as investors seek safe havens

NEW YORK (Bloomberg) -- Oil dropped to a three-week low in New York as risk aversion among investors sent equities lower and bolstered the dollar, reducing the appetite for commodities. Futures fell 0.8%, capping a four-day decline of 5.3%.......【More】

2016-06-15

Crude extends decline from one-week low ahead of Brexit vote

NEW YORK (Bloomberg) -- Crude fell a fourth day after closing at a one-week low as concern mounts over the strength of global growth as Britain votes later this month on whether to leave the European Union. Futures fell as much as 0.8% in N......【More】

2016-06-14

Bucking Big Oil, U.S. House condemns carbon tax

WASHINGTON, D.C. (Bloomberg) -- Congressional Republicans approved a non-binding resolution to condemn the idea of a carbon tax, putting lawmakers on record opposing an approach to combating climate change favored by Exxon Mobil Corp. and o......【More】

2016-06-13

Oil falls most in 10 weeks as U.S. rig count gains, dollar rises

NEW YORK (Bloomberg) -- Crude fell the most in 10 weeks as the number of rigs drilling for oil in the U.S. climbed and the U.S. dollar strengthened against its peers. Futures tumbled 3% in New York. Rigs targeting crude in the U.S. rose by......【More】

2016-06-12

Global oil demand is growing ‘strongly,’ leading trader says

SINGAPORE (Bloomberg) -- Trafigura Group has joined other leading energy trading houses in saying oil demand is growing strongly this year, suggesting that OPECs cheap oil strategy is spurring consumption despite weak economic growth in Chi......【More】

2016-06-08

OPEC optimism masks challenge to oil’s rally from 12-year low

TEHRAN (Bloomberg) -- Oils recovery from a 12-year low may be too good to last as Iranian output rebounds faster than expected. OPEC last week stuck to its policy of unfettered production, deciding against a new output ceiling as the price......【More】

2016-06-06

OPEC keeps status quo after failing to agree on output cap

VIENNA (Bloomberg) -- OPEC will stick to its policy of unfettered oil production after members failed to agree on a new output ceiling. Crude extended its decline in London. The meeting didnt produce a supply accord but did reach consensus......【More】

2016-06-03

Oil pares losses on report OPEC to consider new output ceiling

NEW YORK (Bloomberg) -- Oil pared declines following a report that OPEC may consider a new production ceiling at Thursdays meeting. Futures rebounded after Reuters cited four sources as saying the Organization of Petroleum Exporting Countri......【More】

2016-06-02

Petrobras names new CEO and board member

RIO DE JANEIRO -- Petrobras has annouced the resignation of Aldemir Bendine from Petrobras board member and CEO positions. In light of the resignation presented, the board of directors held a meeting, during which engineer Pedro Pullen Pare......【More】

2016-06-01