MELBOURNE/SINGAPORE (Reuters) – Oil prices gained on Tuesday, reversing overnight losses, as investors moved into risk assets and stayed away from the safe-haven U.S. dollar which hit multi-year lows. Brent crude LCOc1 futures climbed 47 cents, or 1%, to $45.7... More »
(Reuters) – The U.S. Securities and Exchange Commission is considering enforcement action against United States Oil Fund LP, the largest crude oil exchange-traded fund, due to statements made after oil prices plunged into negative territory in April. The Unite... More »
(Reuters) – Oil refiners are permanently closing processing plants in Asia and North America and facilities in Europe could be next as uncertain prospects for a recovery in fuel demand after the coronavirus pandemic triggered losses. The pandemic initially cut... More »
LONDON (Reuters) – Oil rose on Monday, supported by an improvement in Chinese factory data and rising energy demand as countries eased coronavirus-related lockdowns, but traders remained cautious due to U.S.-China tensions and uncertainty over a U.S. stimulus ... More »
LONDON (Reuters) – BP (BP.L) will need to invest tens of billions of dollars over the next decade and may have to accept lower returns than it can get from oil if it is to meet its target of becoming one of the world’s largest renewable power generators. The B... More »
LONDON (Reuters) – Oil prices steadied on Monday, pressured by rising COVID-19 cases around the globe and by oversupply worries as OPEC and its allies are set to wind back output cuts in August, but supported by positive industry data in Europe and Asia. Brent... More »
MOSCOW (Reuters) – Russian oil and gas condensate output increased to 9.8 million barrels per day (bpd) on Aug. 1-2 from 9.37 million bpd in July as the country eases production curbs under an OPEC+ deal, a source familiar with data said on Monday. The Energy ... More »
SINGAPORE/LONDON (Reuters) – Oil prices edged higher on Monday helped by a weak dollar and expected U.S. stimulus measures but gains were capped by rising global coronavirus cases and tensions between the United States and China. Brent crude LCOc1 rose 32 cent... More »
LONDON (Reuters) – Oil prices fell on Monday as coronavirus cases increased in many countries across the globe, but investors remained cautiously optimistic about ongoing talks over a European Union-wide recovery fund to revive economies affected by the pandem... More »
TOKYO (Reuters) – Japan’s environment ministry warned on Tuesday that the electricity industry, which accounts for 40% of its carbon emissions, will miss its target for cutting carbon dioxide (CO2) by 2030, calling for it to take further measures. The warning ... More »
LONDON (Reuters) – Oil prices fell on Monday on a record daily rise in global coronavirus cases, with big spikes in infections over the weekend in the United States, while traders await an OPEC meeting expected to recommend an easing of supply cuts. Brent crud... More »
LONDON (Reuters) – British minister Oliver Dowden will make a statement to parliament on Huawei some time after 1130 GMT on Tuesday, the opposition Labour Party said on Twitter. Britain is set to ban Huawei from Britain’s 5G network in a landmark decision that... More »
DUBAI (Reuters) – The United Arab Emirates wants to see a return of Libya’s oil production as soon as possible but with safeguards in place to prevent proceeds from fuelling further conflict in the north African country, a senior Emirati official tweeted on Mo... More »
OTTAWA (Reuters) – Producer prices in Canada gained 0.4% in June from May, primarily on higher prices for energy and petroleum products, Statistics Canada said on Friday in a preliminary flash estimate. Energy and petroleum prices jumped 11.7%, the agency said... More »
LONDON (Reuters) – Britain will place a “huge priority” on national security when considering Chinese telecoms firm Huawei’s role in the country’s 5G network, justice minister Robert Buckland said on Monday. “National security comes first … and I know that the... More »
DUBAI (Reuters) – Saudi Arabia’s central bank governor said it was encouraging commercial banks to lend more to sustain businesses during the coronavirus crisis. Saudi Arabian Monetary Authority (SAMA) Governor Ahmed al-Kholifey was speaking at a virtual econo... More »
LONDON (Reuters) – Oil prices slipped on Tuesday amid rising COVID-19 cases and a possible return of Libyan oil production, which has been down to a trickle since the start of the year. The more-active September contract for Brent LCOc2 fell 37 cents, or 0.88%... More »
LONDON (Reuters) – Famed for snapping up glitzy real estate and stakes in troubled international banks during the global financial crisis, sovereign wealth funds are investing more at home, a trend set to accelerate in the wake of the economic carnage wrought ... More »
LONDON (Reuters) – Oil prices were steady on Monday, supported by tighter supplies from major producers but held in check by concerns over a record rise in global coronavirus infections that could stall a recovery in fuel demand. Brent crude LCOc1 rose 5 cents... More »
NEW YORK (Reuters) – Oil prices fell on Monday as new coronavirus infections hit the United States and China, feeding worries that renewed lockdowns could hamper economic recovery and dent fuel demand. U.S. West Texas Intermediate crude fell 35 cents, or 1%, t... More »
WASHINGTON (Reuters) – The Democratic National Committee’s council on climate change irked party leadership when it published policy recommendations this month that ventured beyond presidential candidate Joe Biden’s plan, according to three people familiar wit... More »
LONDON (Reuters) – Vitol’s former chief executive and chairman Ian Taylor has died at the age of 64 from cancer, according to an internal memo and four sources familiar the matter. Taylor joined Vitol [VITOLV.UL] in 1985 and became group President and CEO in 1... More »
LONDON (Reuters) – Oil prices fell on Tuesday weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts. Brent crude was down 85 cents, or 2.1% to $39.95 a barrel by 0912 GMT.... More »
LONDON (Reuters) – The United States has overtaken China as the most attractive country in the world for renewables investment and the global clean energy sector is expected to bounce back quickly despite the coronavirus pandemic, research showed on Tuesday. I... More »
TOKYO (Reuters) – Oil prices rose for a fourth straight session on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic. Brent crude c... More »
BEIJING (Reuters) – China announced on Tuesday a new list of 79 U.S. products eligible for waivers from retaliatory tariffs imposed at the height of the bilateral trade war, amid continued pressure on Beijing to boost imports from the United States. China’s fi... More »
MELBOURNE/SINGAPORE (Reuters) – Oil futures rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June in a bid to help drain the glut in the global market that has built up as the coronavirus pandemic crushed fuel... More »
LONDON (Reuters) – Hydrogen has long been touted as a clean alternative to fossil fuels. Now, as major economies prepare green investments to kickstart growth, advocates spy a golden chance to drag the niche energy into the mainstream of a post-pandemic world.... More »
NEW YORK (Reuters) – Oil prices were mixed on Monday as countries started to ease coronavirus lockdowns, though a fresh spat between the United States and China over the origin of the virus weighed on prices. Worldwide fuel demand fell by an estimated 30% in A... More »
LONDON (Reuters) – Oil and gas output from some of the world’s top oil companies is set to drop by over 12% in the second quarter of 2020 to levels not seen in at least 17 years, according to Reuters calculations. The output cuts are driven by an unprecedented... More »
DUBAI (Reuters) – The United Arab Emirates stands against a decision by a main Yemeni southern separatist group to declare self-rule in areas it controls, and urges full implementation of a peace deal agreed last year for the south, minister of state for forei... More »
SINGAPORE (Reuters) – Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not come fast enough to fully offset the collapse in demand from the coronavirus pandemic. U.S. oil futures led l... More »
SEOUL (Reuters) – U.S. oil prices hobbled back into positive territory on Tuesday after sinking below $0 for the first time ever, but international benchmark Brent dipped as the global coronavirus crisis severely reduces demand for crude. U.S. West Texas Inter... More »
(Reuters) – A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse. U.S. West Texas ... More »
LONDON (Reuters) – The oil price will stay low for some time as supply exceeds demand and the current situation on global oil markets is reminiscent of the 1980s oil glut, former BP boss John Browne said on Tuesday. “The prices will be very low and I think the... More »
SINGAPORE (Reuters) – Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won’t be enough to head off oversupply with the coronavirus pandemic hammering demand. After four day... More »
SINGAPORE (Reuters) – Minimal oil price gains on Monday show record output cuts by giant producers will still leave them with a mountain to climb to restore market balance, industry watchers said, with the coronavirus pandemic decimating demand just as stocks ... More »
BAKU/DUBAI/LONDON (Reuters) – OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil... More »
(Reuters) – Goldman Sachs said on Sunday that oil prices would continue to fall in the coming weeks, reasoning that a “historic yet insufficient” deal by major oil producers to cut output is unlikely to offset a coronavirus-led demand rout. The Organization of... More »
TOKYO (Reuters) – The agreement by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to cut output failed to reach the reduction levels expected by the market, leading to oil prices remaining stagnant, the head of the Japanese petrole... More »
CAIRO (Reuters) – Iraq’s oil minister said late on Sunday that the big oil cut deal reached at an OPEC+ meeting would help stabilize the market. Thamer al-Ghadhban said in a statement that the “massive oil cut deal will help lower oil inventories and boost pri... More »
LONDON (Reuters) – Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help reduce global oversupply as the coronavirus pandemic pummels demand. Brent crude LCoc1 fell more than $3 when Asian markets ope... More »
BASRA, Iraq (Reuters) – Rockets landed near a site connected with foreign oil firms and state-run companies in Iraq’s southern city of Basra early on Monday, without causing damage or casualties, oil and police sources said. The rockets, which police said were... More »
NEW YORK (Reuters) – Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday’s trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut p... More »
LONDON (Reuters) – Deep oil output cuts by OPEC and other producing nations would not be enough to prevent a huge build in global crude inventories in the second quarter as measures to contain the coronavirus lead to “unprecedented” demand loss, the head of th... More »
CARACAS (Reuters) – A price war between world oil producers has slashed Venezuela’s revenue for its top export and exacerbated the country’s financial crisis as it also faces the coronavirus pandemic, U.S. sanctions and sliding crude output. More than 90% of V... More »
LONDON (Reuters) – Benchmark Brent crude oil futures climbed to as high as $34.91 a barrel on Friday on rising hopes of a new global deal to cut global crude supply. Brent crude LCOc1 futures were up 12.9%, or $3.9, at $33.83 a barrel by 1321 GMT. Brent soared... More »
DUBAI/LONDON/MOSCOW (Reuters) – OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called on oil nations to stop the oil rout caused by the ... More »
WASHINGTON (Reuters) – U.S. President Donald Trump on Thursday said he would get involved in the oil price war between Saudi Arabia and Russia at the appropriate time, saying low gasoline prices were good for U.S. consumers even as they were hurting the indust... More »
LONDON (Reuters) – U.S. crude fell below $30 on Monday as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China’s factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus. Bre... More »
SINGAPORE (Reuters) – Oil extended losses on Monday as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus while a price war rages on between top producers. Brent crude fel... More »
WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Sunday officials will have a better idea this week of the total cost of a coronavirus aid package, but predicted it will likely be “significant but not huge.” Mnuchin told “Fox News Sunday” ... More »
SINGAPORE (Reuters) – Oil prices jumped more than 4%, up from multi-year lows hit earlier on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak. Brent crude ... More »
HOUSTON (Reuters) – Coronavirus concerns prompted organizers on Sunday to cancel one of the world’s most prestigious gatherings of oil ministers and top executives from the energy and financial industries scheduled for this month in Houston. The fast-spreading... More »
BEIJING/TOKYO (Reuters) – Japanese automaker Toyota plans to build a new electric vehicle plant in the Chinese city of Tianjin with its local partner FAW Group, a document from the local authorities showed. The joint venture between Toyota and FAW plans to inv... More »
SINGAPORE (Reuters) – Oil prices slipped lower on Monday as traders assessed China’s oil demand following the coronavirus outbreak and waited to see if major producers will cut output further to balance markets. Oil is off more than 20% from peaks struck in Ja... More »
SINGAPORE (Reuters) – Brent crude prices fell on Monday to their lowest in more than a year, dragged down by worries about lower demand in China, the world’s largest oil importer, following a coronavirus outbreak there. There are signs fuel demand has plunged ... More »
LONDON (Reuters) – Sovereign wealth funds’ investment moves are becoming more closely aligned with the global asset management industry as they mature, and their growing size makes it harder for them to make contrarian bets, a report showed. But the move to mo... More »
CARACAS (Reuters) – Venezuela’s state-run oil company PDVSA said its financial debt fell less than 0.1% in 2019 from the prior year to some $34.5 billion, though it remained in default on its bonds as sanctions freeze it out of the global banking system. PDVSA... More »
TOKYO (Reuters) – Crude prices fell more than 2% to multi-month lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand. Brent crude LCOc1 fell by $1.28 a barrel, or 2.1%, to $59.4... More »
DUBAI (Reuters) – Oman’s energy minister Mohammed bin Hamad al-Rumhy told Reuters on Monday he fully supported Saudi Arabia’s readiness to react to any impact the new coronavirus could have on the oil market. “Oman fully supports the statement (and the spirit)... More »
MILL VALLEY, California (Reuters) – Electric vehicle startup Rivian on Saturday displayed its pickup truck and SUV at an event in San Francisco’s Bay Area and said that when their prices are unveiled soon they will be lower than has been previously announced. ... More »
LONDON (Reuters) – Oil prices rose slightly on Monday as investors shift their focus away from easing Mideast tensions to this week’s scheduled signing of an initial U.S.-China trade deal which could boost economic growth and demand. Brent crude LCOc1 was up 2... More »
TOKYO (Reuters) – Oil prices steadied on Thursday a day after tumbling on concerns raised by an Iranian missile strike on Iraqi bases hosting U.S. forces. Brent crude futures were down 5 cents at $65.40 a barrel by 0728 GMT after a 4.1% fall on Wednesday. They... More »
BEIJING (Reuters) – China’s Vice Premier Liu He, head of the country’s negotiation team in Sino-U.S. trade talks, will sign a “Phase 1” deal in Washington next week, the commerce ministry said on Thursday. Liu will visit Washington on Jan. 13-15, said Gao Feng... More »
(Reuters) – The diverging fundamentals of U.S. oil and natural gas can be seen dramatically in the markets, where the oil-to-gas price ratio has surged to its highest in six years. The oil-to-gas ratio, or the level at which oil trades compared with natural ga... More »
NEW YORK (Reuters) – Oil prices fell almost 1% on Tuesday, surrendering some recent gains as investors reconsidered the likelihood of immediate supply disruptions in the Middle East after the United States killed a top Iranian military commander last week. Bre... More »
TOKYO (Reuters) – Oil prices fell on Monday, but were holding near recent three-month highs amid expectations that the United States and China will soon agree on a trade deal, with President Donald Trump saying an agreement would be signed “very shortly”. Bren... More »
BEIJING (Reuters) – China will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year as Beijing looks to boost imports amid a slowing economy and a trade war with the United States. Next year, China will imple... More »
SINGAPORE (Reuters) – Oil prices on Monday slid off near three-month highs hit last week as investors searched for clarity beyond the initial impact of a trade deal between the United States and China that’s expected to boost flows between the top two global e... More »
BEIJING (Reuters) – China and the United States should continue bilateral trade talks and work toward removing all existing tariffs, China’s National Bureau of Statistics spokesman Fu Linghui said on Monday. Fu also told reporters during a briefing that China’... More »
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... More »
BEIJING (Reuters) – China said on Monday that it hoped to make a trade deal with the United States as soon as possible, amid intense discussions before fresh U.S. tariffs on Chinese imports are due to kick in at the end of the week. Beijing hopes it can reach ... More »
(Reuters) – Goldman Sachs raised its oil price forecasts for 2020, citing tighter-than-expected inventories after the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to deepen oil output cuts through the first quarter of next yea... More »
MADRID (Reuters) – The past decade is almost certain to be the hottest on record, weather experts warned on Tuesday, painting a bleak picture of vanishing sea ice, devastating heatwaves and encroaching seas in a report launched at a climate summit in Spain. An... More »
SOCHI, Russia (Reuters) – Russian President Vladimir Putin and his Chinese counterpart Xi Jinping on Monday oversaw the launch of a landmark pipeline that will transport natural gas from Siberia to northeast China, an economic and political boost to ties betwe... More »
LONDON (Reuters) – Oil jumped above $61 a barrel on Monday, supported by hints that OPEC and its allies may agree to deepen output cuts at a meeting this week and as rising manufacturing activity in China suggested stronger demand. The Organization of the Petr... More »
DUBAI/LONDON (Reuters) – OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with... More »
NEW YORK (Reuters) – Citadel’s commodities investments are up at least $1 billion for the year, according to three sources familiar with the matter, helping to drive strong overall performance at one of the world’s largest hedge funds. Citadel, which manages m... More »
DUBAI (Reuters) – Saudi Aramco met investors in Dubai on Sunday to market its initial public offering (IPO), after trying to secure demand from Kuwait’s sovereign wealth fund for the deal, worth up to $25.6 billion, which relies heavily on local and regional b... More »
SINGAPORE (Reuters) – Oil prices inched higher on Monday, extending steady gains from the previous week, with investors awaiting fresh clues over prospects for a trade deal between the United States and China and shrugging off concerns over steadily rising oil... More »
LONDON (Reuters) – Oil prices dipped on Monday after U.S. President Donald Trump appeared to downplay reports of an imminent lifting of tariffs in a protracted U.S.-Chinese trade war. Brent crude was down 87 cents at $61.64 by 1030 GMT. The contract gained 1.3... More »
BEIJING/SHANGHAI (Reuters) – Fewer new energy vehicles (NEV) could be sold in China this year than in 2018, an official at the country’s biggest auto industry association said on Monday, as customers hold back on purchases following a government decision to cu... More »
DHAHRAN, Saudi Arabia/DUBAI (Reuters) – Saudi Arabia’s giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world’s biggest listing as the kingdo... More »
SINGAPORE (Reuters) – Oil prices eased on Monday as traders took profit ahead of fresh European and U.S. economic data, despite hopes for some resolution to the U.S.-China trade row that has hurt global economic growth and crimped energy demand. Prices jumped ... More »
HOUSTON (Reuters) – Former U.S. Secretary of State Rex Tillerson said on Saturday that Republicans and Democrats need to work together for the good of the United States, while avoiding a direct reference to the Democratic-led impeachment inquiry of President D... More »
TOKYO (Reuters) – Oil prices fell on Monday after strong gains last week, as data released in China reinforced signs that its economy is slowing, though progress in China-U.S. trade talks has supported prices. Brent crude was down 34 cents, or 0.4%, at $61.79 ... More »
NEW YORK (Reuters) – The largest banking lenders to the oil and gas sector are becoming more cautious, marking down their expectations for oil and gas prices that underpin loans in a move expected to put further financial stress on struggling producers, indust... More »
SINGAPORE (Reuters) – Oil prices largely held steady on Monday, recouping some early losses as investors took stock of global economic pressures that could impact oil demand. Global benchmark Brent crude oil futures LCOc1 were down 1 cent to $59.41 a barrel by... More »
WASHINGTON (Reuters) – U.S. Energy Secretary Rick Perry will not turn over documents to congressional Democrats who had subpoenaed them over his role in Ukraine as part of their impeachment probe into President Donald Trump, a department official said in a let... More »
SINGAPORE (Reuters) – Oil prices fell on Tuesday, after heavy losses in the previous session, as two days of weak Chinese data added to worries about the top crude oil importer’s energy demand growth. Brent crude LCOc1 fell 42 cents, or 0.71%, to $58.93 a barr... More »
SINGAPORE (Reuters) – Oil prices were mixed on Monday with traders pegging cautious hopes for a rebound from last week’s losses on progress in talks on ending the U.S.-China trade war, against a backdrop of global economic slowdown weighing on future oil deman... More »
BEIJING (Reuters) – China hopes Beijing and Washington will resolve their trade dispute “with a calm and rational attitude”, Vice Commerce Minister Wang Shouwen said on Sunday, ahead of talks in two weeks between the two sides. The United States and China have... More »
SINGAPORE (Reuters) – Oil prices slipped on Monday as China’s economic outlook remained weak even as manufacturing data improved as an ongoing trade war with the United States weighs on demand growth at the world’s largest crude importer. Brent crude LCOc1 fut... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Sunday the United States was “locked and loaded” for a potential response to the attack on Saudi Arabia’s oil facilities, after a senior U.S. administration official said Iran was to blame. Trump also ... More »
DUBAI (Reuters) – The resignation of White House National Security Adviser John Bolton, a hawk on Iran, will not lead to talks between Washington and Tehran, Iran said on Wednesday. President Hassan Rouhani urged the United States to end its policy of “maximum... More »
TOKYO (Reuters) – Oil prices weakened on Monday after new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude. Brent crude slipped 22 cents, or 0.4%, to $59.03 a barrel by 0... More »
TOKYO (Reuters) – (This August 29 story has been corrected to say China National Offshore Oil Corp, not CNOOC Ltd, in paragraph three.) Japan imported its first cargo of liquefied natural gas (LNG) from China in July as utilities from the world’s biggest buyer... More »
TOKYO (Reuters) – Oil prices rose on Tuesday after U.S. President Donald Trump predicted a trade deal with China after positive comments by Beijing, calming nerves after a round of tit-for-tat tariff hikes had sent markets reeling. Brent crude LCOc1 was up by ... More »
BIARRITZ, France (Reuters) – The leaders of the group of seven nations are close to agreeing a deal to provide $20 million in emergency help to stop the Amazon forest fires, a French presidential source said. “The reality is that for the emergency aid they esp... More »
