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Aramco sees oil demand falling after 2040, per IPO prospectus

DUBAI (Bloomberg) - Global oil demand may peak within the next 20 years, according to an assessment included in the prospectus for Saudi Aramcos initial public offering, suggesting views are slowly changing in the kingdom where officials lo......【More】

2019-11-12

Oil climbs to six-week high on signs of trade war resolution

NEW YORK (Bloomberg) - Oil rose to a six-week high on mounting signs that a resolution to the U.S.-China trade dispute is imminent. Futures advanced as much as 1.8% on Monday in New York. Chinese government officials are considering locatio......【More】

2019-11-06

Oil posts biggest weekly gain in five weeks on trade optimism

CALGARY (Bloomberg) - Oil posted the biggest weekly gain in more than a month as supplies tightened and the White House signaled progress on U.S.-China trade talks. Futures in New York rose for a fourth day. U.S. crude stockpiles fell for t......【More】

2019-10-28

Oil short-selling more than doubles despite Mideast risks

CALGARY (Bloomberg) - Oil short-selling has more than doubled in three weeks, with attacks on oil facilities and tankers unable to push prices higher for very long. Hedge fund bets on a West Texas Intermediate crude rout jumped 47% in the w......【More】

2019-10-15

Abu Dhabi seeks to shift oil markets with its own crude benchmark

DUBAI (Bloomberg) - The Middle East produces a fifth of the worlds oil, but the regions never had a benchmark price that competes with Londons Brent or New Yorks WTI. That could be about to change. One of the Persian Gulfs biggest producers......【More】

2019-10-14

Oil jumps above $60 as Iran tanker attack reignites Mideast risk

SINGAPORE (Bloomberg) - Oil jumped back above $60/bbl after reports of a missile strike on an Iranian tanker near the Saudi Arabian port city of Jeddah reignited fears over military escalation in the worlds most important crude-producing re......【More】

2019-10-12

Oil moves higher as market eyes trade talks later this week

SINGAPORE (Bloomberg) - Oil gained after its biggest weekly slump since July ahead of the resumption of U.S.-China trade talks that may sway a cloudy demand outlook. Futures in New York added as much as 1.7% after losing 5.5% last week. Chi......【More】

2019-10-08

Pemex faces oil trading team exodus amid pricing review

MEXICO CITY (Bloomberg) Pemexs head of crude oil trading Victor Briones and two other executives left the company amid a conflict over an external review of the nations crude price formulas, people familiar with the matter said. Briones, wh......【More】

2019-09-29

Oil holds declines after U.S. crude stocks rise for second week

NEW YORK (Bloomberg) - Oil held declines after the U.S. government reported a build in nationwide crude inventories for the second consecutive week. The Energy Information Administration said crude supplies rose 2.41 MMbbl last week. At the......【More】

2019-09-26

Oil stabilizes amid mixed reports over pace of Saudi recovery

NEW YORK (Bloomberg) - Oil stabilized as traders weighed conflicting reports on how quickly Saudi Arabia will be able to restore its lost production. Brent crude was little changed, after falling as much as 1.2%. Saudi Arabia, which has rei......【More】

2019-09-24