By Jane Chung SEOUL (Reuters) – Oil prices extended gains on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover from the epidemic. Brent crude (LCOc1) was up $1.12, or 2.1%, at $55.13 […]
BEIJING (Reuters) – China announced on Monday the establishment of a national oil and gas pipeline company in a move intended to boost competition, the Xinhua state news agency said. The long-awaited state pipeline company aims to provide other investors fair market access to infrastructure that is mainly controlled by China’s three national oil companies, […]
By Aaron Sheldrick TOKYO (Reuters) – Oil prices fell on Monday after data showed that Chinese exports declined for a fourth straight month, sending shivers through a market already concerned about damage being done to global demand by the Sino-U.S. trade war. Brent futures (LCOc1) were down 21 cents, or 0.3%, at $64.18 per barrel […]
(Bloomberg) — As the clamor grows for OPEC to slash even more oil production, and the cartel vows to consider any necessary action, its next meeting could result in an unusual step: a preemptive supply cut. The Organization of Petroleum Exporting Countries and its partners — known as OPEC+ — have reduced output this year […]
(Bloomberg) — Citigroup Inc (NYSE:C). has raised the possibility gold may extend its impressive rally should it breach a technical level against a major U.S. equity market benchmark, adding to positive commentary around the metal. The ratio between bullion and the S&P 500 Index is “testing key pivots that extend up to the Christmas highs,” […]
By Roslan Khasawneh SINGAPORE/TOKYO (Reuters) – Oil prices rose on Monday on concerns that Iran’s seizure of a British tanker last week may lead to supply disruptions in the Middle East Gulf, although gains were capped as Libya resumed output at its largest oil field. Brent crude futures climbed 88 cents, or 1.4%, to $63.35 […]
By Aaron Sheldrick TOKYO (Reuters) – Oil futures hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted ongoing tensions in the region. Brent crude futures reversed early losses and were up 36 […]
By Aaron Sheldrick TOKYO (Reuters) – Oil prices rose on Wednesday after industry data showed U.S. stockpiles fell far more than expected, alleviating concerns about oversupply, while major U.S. producers evacuated rigs in the Gulf of Mexico ahead of a brewing storm. West Texas Intermediate (WTI) crude (Clc1) had climbed 93 cents, or 1.6%, to […]
By Kiyoshi Takenaka and Katya Golubkova OSAKA (Reuters) – Russian Energy Minister Alexander Novak said on Friday he hoped a meeting of G20 nations in Japan would provide clarity for OPEC and non-OPEC oil producers as they consider whether to extend a deal on cutting crude supplies beyond June. The presidents of the United States […]
By Aaron Sheldrick TOKYO (Reuters) – Oil fell on Tuesday amid concerns over the outlook for crude demand, but prices were supported after Washington announced new sanctions on Iran amid mounting tensions in the Middle East. Benchmark Brent crude futures were down 34 cents, or 0.5%, at $64.52 a barrel by 0639 GMT. They dropped […]
