Industry News|cippe Zhenwei Shanghai Petrochemical Show|ZHENWEI EXPO

Oil falls from one-week high ahead of Brexit vote, EIA report

NEW YORK (Bloomberg) -- Oil fell from the highest close in more than a week as markets awaited U.S. stockpile data, while the UK referendum on European Union membership remained too close to call. Futures slid as much as 2.5% in New York. U......【More】

2016-06-22

Oil seen at $80 next year by Raymond James

ST. PETERSBURG, Florida (Bloomberg) -- Rebounding after a two-year collapse, its only this month that oil prices have pushed up past $50/bbl, but Raymond James Associates says this is just the beginning for higher prices. In a note to clien......【More】

2016-06-21

Crude oil advances most in two months

NEW YORK (Bloomberg) -- Oil climbed the most in two months, paring a weekly decline as a weaker dollar bolstered the appeal of commodities to investors. Futures rose 3.8% in New York as a gauge of the dollar fell for a third day. Global sto......【More】

2016-06-20

Oil bosses see volatility easing with crude around $50

ST. PETERSBURG, Russia (Bloomberg) -- Crude is stabilizing around $50/bbl and may only average $55 next year as the global oversupply continues to cap prices, according to two of the worlds top oil executives. The past few weeks have seen p......【More】

2016-06-17

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