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Oil falters as U.S. shutdown, China trade cast pall over economy

NEW YORK (Bloomberg) -- Crude prices fell to the lowest level in almost a week as China warned of serious challenges to the global economy and the U.S. government shutdown cast a pall over growth. Futures slid 0.7% in New York on Wednesday,......【More】

2019-01-24

Oil slumps most in a month as IMF, trade dispute darken outlook

NEW YORK (Bloomberg) -- Oil slumped by the most in almost a month as economic warning signs flashed from Chinese trade talks to the U.S. housing market. Futures fell 2.3% in New York on Tuesday as traders returned from a long holiday weeken......【More】

2019-01-23

Oil steadies near two-month high as U.S. drilling slows down

LONDON and CALGARY (Bloomberg) -- Oil steadied near a two-month high in New York amid a pullback in U.S. drilling activity, while ongoing U.S.-China trade talks left an uncertain outlook for demand. Futures rose 0.2% Monday after surging 3.......【More】

2019-01-22

Oil gains as Russia, Saudis signal commitment to production cuts

NEW YORK (Bloomberg) -- Oil closed higher for the second straight day as Russia and Saudi Arabia signaled theyre on track with production cuts designed to avoid a global supply glut. Futures in New York staged a mid-afternoon recovery on We......【More】

2019-01-17

Oil keeps Oman on debt binge with $6.2 billion plan for 2019

NEW YORK (Bloomberg) -- Omans government, whose budget deficit is among the largest of all the sovereigns tracked by Fitch Ratings, will tap capital markets for a fourth straight year to plug a fiscal gap vulnerable to lower oil prices. The......【More】

2019-01-03

U.S. Gulf refiners feast on domestic oil amid rising output

NEW YORK (Bloomberg) -- U.S. light oil has become too cheap for Gulf Coast refiners to pass up. Fuel makers on the Gulf, home to the largest cluster of refineries in the world, processed oil with an average API gravity of 33.06 in October,......【More】

2019-01-02

Oil edges up following report of tiny U.S. crude stockpile draw

NEW YORK (Bloomberg) -- Crude hovered near $45/bbl following a U.S. government report showing a fourth straight decline in oil stockpiles. Futures in New York edged up after the Energy Information Administration reported that U.S. crude inv......【More】

2018-12-29

Crude spirals to 18-month low amid global economic concerns

NEW YORK (Bloomberg) -- Crude fell to the lowest level in a year and a half as concerns over the global economy and turbulence in Washington overshadowed signals from OPEC that it may deepen output cuts. Futures slid 6.7% in a shortened Chr......【More】

2018-12-26

As oil prices plunge, OPEC output is at risk from social unrest

LONDON (Bloomberg) -- Oils plunge has taken prices below the level all but one OPEC country needs to square their 2019 budgets, increasing the risk of supply disruptions from economic dislocation and social unrest. At todays Brent price of......【More】

2018-12-21

Russia oil executives to discuss OPEC+ deal with Novak

MOSCOW (Bloomberg) -- Russian Energy Minister Alexander Novak plans to meet with executives from oil companies on Wednesday to discuss the OPEC+ deal and targets for next year. Its a planned meeting with oil companies to discuss the situati......【More】

2018-12-19