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) – 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 »
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 »
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 »
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) – 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 »
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 »
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 »
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 »
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 »
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 »
(Reuters) – The United States Oil Fund LP, the largest oil-focused exchange-traded product (ETP) in the country, is moving to spread out its investments in oil futures in response to extreme market turbulence, it said in a filing on Wednesday. USO said it may ... 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 »
(Reuters) – The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy glut as the coronavirus pandemic halts travel and curbs economic activity. The contrac... 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 »
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 »
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 »
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 »
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 »
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 »
(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 »
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 »
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 »
(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 »
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 »
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 »
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 »
LONDON/MOSCOW (Reuters) – Russian oil producer Lukoil and Hungarian energy company MOL are set to sign a settlement deal over contaminated oil during Russian President Putin’s visit to Budapest this week, four industry sources told Reuters. A high level of org... 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 »
(Reuters) – U.S. President Donald Trump’s suggestion on Sunday that Exxon Mobil or another U.S. oil company operate Syrian oil fields drew rebukes from legal and energy experts. “What I intend to do, perhaps, is make a deal with an ExxonMobil or one of our gre... 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 »
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 »
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 »
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) – 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 »
LONDON/SINGAPORE (Reuters) – Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for signs that Sino-U.S. trade tensions could ease. Price gains were, however, capped to some degree by ... More »
SINGAPORE (Reuters) – China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest set of U.S. sanctions on the South American exporter, two Beijing-based senior sources with direct knowledge of the matter t... More »
SEOUL (Reuters) – Oil prices edged lower on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for global oil demand. International benchmark Brent crude futures were at $58.40 a barrel by ... More »
BEIJING (Reuters) – The death toll from typhoon Lekima in eastern China rose to 44 people on Monday morning, according to official data, as the storm continued up the coast, racking up billions of dollars in economic losses and widely disrupting travel. An add... More »
LONDON (Reuters) – Oil prices rose slightly on Monday as Chinese industrial output and retail data topped expectations but gains were capped by overall figures showing the country’s slowest quarterly economic growth in decades. The positive Chinese data may in... More »
SINGAPORE/BEIJING (Reuters) – China’s fuel producers are making extended curbs to their output in the third quarter after supply from mammoth new refineries stoked an already-sizeable glut, potentially dragging on crude oil demand from the world’s biggest impo... More »
TOKYO (Reuters) – Crude prices were little changed on Monday as traders weighed geopolitical risks against the impact of the Sino-U.S. trade war on the global economy, although last week’s better-than-expected U.S. jobs data offered some supprt. Brent crude fu... More »
VIENNA (Reuters) – OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude amid a weakening global ... More »
LONDON (Reuters) – Oil prices rose over $2 a barrel on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week. Front-month Brent crude futures touched an intraday high of $66.75 a... More »
TOKYO (Reuters) – Oil prices rose on Monday to extend gains from last week, bolstered as tensions remain high between Iran and the United States after U.S. Secretary of State Mike Pompeo said “significant” sanctions would be announced on Tehran. Brent futures ... More »
TOKYO (Reuters) – Oil prices fell for a second day on Tuesday on signs that global economic growth is being hit by the U.S.-China trade war, although losses were limited by tensions in the Middle East after last week’s tanker attacks. Brent crude futures were ... More »
NEW YORK (Reuters) – Oil prices fell more than 1% on Monday after more poor Chinese economic figures fanned fears of lower worldwide oil demand. Brent crude futures lost $1.07 to settle at $60.94 a barrel, a 1.73 percent loss. U.S. West Texas Intermediate (WTI... More »
SINGAPORE (Reuters) – Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia should restrict supplies to current levels, while Washington’s withdrawal of a tariff threat against Mexico removed a cloud over the global economy. However, ... More »
SINGAPORE (Reuters) – Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday, when crude markets slipped to their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown. F... More »
SINGAPORE (Reuters) – Oil prices fell on Monday, extending losses from last week when crude dropped the most this year on concerns the Sino-U.S. trade war could trigger a broad economic slowdown, although OPEC’s supply cuts provided some support. U.S. West Tex... More »
DUBAI/LONDON (Reuters) – Saudi Arabia said on Monday that two Saudi oil tankers were among vessels targeted by a “sabotage attack” off the coast of the United Arab Emirates, condemning it as an attempt to undermine the security of global crude supplies. The UA... More »
SINGAPORE (Reuters) – Oil prices tumbled on Monday after U.S. President Donald Trump said he would sharply hike tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s two biggest economies. U.S. West Texas Intermediate (W... More »
SINGAPORE (Reuters) – Oil prices jumped on Monday as the United States looked set to announce that all buyers of Iranian oil must end their imports or be subject to sanctions. Brent crude futures rose as much as 3.3 percent to $74.31 a barrel, the highest sinc... More »
WASHINGTON/SINGAPORE (Reuters) – The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the situation told Reuters, triggering a 3 percent jump in crude prices to their ... More »
SINGAPORE (Reuters) – Oil prices slipped on Monday, with concerns of a sharp economic slowdown outweighing supply disruptions from OPEC’s production cutbacks and from U.S. sanctions on Iran and Venezuela. Brent crude oil futures were at $66.73 per barrel at 07... More »
SINGAPORE (Reuters) – Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. Brent crude... More »
DUBAI (Reuters) – Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output “well below” 10 million bpd, a Saudi official said on Monday, as the kingdom seeks to drain a supply glut and support ... More »
SINGAPORE (Reuters) – Oil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall U.S. drilling activity. U.S. West Texas Intermediate (WTI) crud... More »
SINGAPORE (Reuters) – Oil prices rose on Monday, buoyed by output cuts by producer club OPEC and reports that the United States and China are close to a deal to end a bitter tariff row that has slowed global economic growth. International Brent futures were at... More »
LONDON (Reuters) – Saudi Aramco’s chief executive said on Tuesday the oil industry is facing “a crisis of perception” and the views of some observers that the end of oil is near with the rise of electric vehicles are illogical and not based on fact. Amin Nasse... More »
SINGAPORE (Reuters) – Oil inched lower on Tuesday to extend losses of more than 3 percent from the previous session, easing after U.S. President Donald Trump called on OPEC to rein in its efforts to boost prices. International Brent futures were at $64.70 a ba... More »
LONDON (Reuters) – Royal Dutch Shell widened its lead over Exxon Mobil as king of cash among the world’s top oil and gas companies last year but its U.S. rival could catch up with its investment drive in new production. The five leading firms, known as oil maj... More »
SINGAPORE (Reuters) – Oil prices fell 1 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, and as China, the world’s second-largest oil user, reported additional signs of an economic slo... More »
LONDON (Reuters) – Oil slipped to around $60 a barrel on Monday after data showed weakening imports and exports in China, the world’s second-largest oil consumer, raising the prospect of a slowdown in fuel demand. China’s exports fell by the most in two years ... More »
MOSCOW (Reuters) – Russian Prime Minister Dmitry Medvedev said on Monday that Moscow has never promised Belarus any help over losses incurred due to an overhaul of Russia’s oil tax after Minsk requested compensation. Russia has kept Belarus in its political or... More »
SINGAPORE (Reuters) – Oil prices rose by around 1 percent on Wednesday, extending gains from the previous session on hopes that Washington and Beijing may soon resolve trade disputes that have cast a dark shadow over the global economy. U.S. West Texas Interme... More »
LONDON (Reuters) – Oil prices rebounded on Friday, recovering slightly from heavy losses this week, but remained close to the lowest levels in over a year as rising U.S. inventories and concern over global economic growth rattled markets. Brent crude oil LCOc1... More »
MEXICO CITY (Reuters) – Mexico’s government unveiled a plan on Thursday to step up use of the armed forces to combat fuel theft, vowing to root out corrupt officials it says are largely responsible for a problem that has cost the country billions of dollars. P... More »
