LONDON (Reuters) – Oil fell on Monday, in line with further declines in global stock markets, erasing the gains made last week when producer group OPEC and other key exporters agreed to cut their crude output from January. Brent crude oil futures fell $1.02 on... More »
LONDON (Reuters) – Qatar’s decision to quit OPEC shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel, a top Iranian official said, adding that any supply cuts should come only from countries that had increased output. ... More »
NEW YORK (Reuters) – Oil prices jumped by more than 3 percent on Monday after the United States and China agreed to a 90-day truce in a trade dispute and Canada’s Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply.... More »
LONDON (Reuters) – Oil prices rose on Monday on worries over supply after tensions worsened between Iran and the United States, while some offshore workers began a 24-hour strike on three oil and gas platforms in the British North Sea. Iranian Supreme Leader A... More »
TOKYO/LONDON (Reuters) – Oil prices rose by over 1 percent toward $79 per barrel on Tuesday due to growing supply outages, with Norway shutting one oilfield as hundreds of workers began a strike and Libya saying its production more than halved in recent months... More »
CALGARY, Alberta (Reuters) – The president of OPEC defended the oil producer group on Monday against U.S. President Donald Trump’s recent demands for higher oil output, saying OPEC does not shoulder the blame. “OPEC alone cannot be blamed for all the problems ... More »
LONDON (Reuters) – Oil slipped below $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China, despite support from oil supply disruptions. Top exporter Saudi Arabia told OPEC it raised oil outp... More »
LONDON (Reuters) – Oil prices fell on Monday as supplies from Saudi Arabia and Russia rose while economic growth stumbled in Asia amid an escalating trade dispute with the United States. Benchmark Brent crude oil LCOc1 fell $1.24 a barrel to a low of $77.99 be... More »
LONDON (Reuters) – Oil prices rose on Tuesday, supported by Canadian production losses and uncertainty over Libyan exports, but under pressure from climbing OPEC supply and intensifying trade conflicts between the United States and other major economies. Bench... More »
LONDON (Reuters) – Oil prices fell on Monday as U.S. production hit a record high and OPEC members considered boosting supply. Benchmark Brent crude oil LCOc1 lost $1.26 a barrel, or 1.6 percent, to a low of $75.53 before recovering to $75.89, down 90 cents, b... More »
LONDON (Reuters) – Oil prices extended losses on Monday as Saudi Arabia and Russia said they may increase supplies while U.S. production gains showed no sign of slowing. Brent crude futures LCOc1 stood at $75.32 a barrel at 1805 GMT, down $1.12 from the previo... More »
LONDON (Reuters) – Oil rose on Monday, lifted by a rally across stocks and other commodities, after the United States said it had put a possible trade war with China “on hold”. Brent crude futures were up 35 cents at $78.86 a barrel at 0845 GMT, having hit a h... More »
NEW YORK/LONDON/SINGAPORE (Reuters) – Oil futures prices have soared past three-year highs, OPEC’s deal has cut millions of barrels of inventory worldwide and investors are betting in record numbers that prices could rocket past $80 and even hit $90 a barrel t... More »
NEW YORK (Reuters) – U.S. fund managers are barreling into the energy sector by making broad bets on anything connected with oil, finally convinced that gains in crude prices – on track for their fourth consecutive quarterly gain, the longest such stretch for ... More »
SINGAPORE (Reuters) – U.S. oil prices rose above $70 a barrel on Monday for the first time since November 2014 and Brent crude climbed to fresh highs, buoyed as a deepening economic crisis in Venezuela threatened the country’s already tumbling oil supply. The ... More »
SINGAPORE (Reuters) – Oil prices dipped on Monday after a rising rig count in the United States pointed to higher production there, but markets held near their highest in over three years and remained set for a second straight month of gains. Oil prices were s... More »
SINGAPORE/HONG KONG (Reuters) – Asia’s most externally vulnerable economies – India, Indonesia and the Philippines – have just taken a one-two punch. U.S. 10-year Treasury bond yields US10YT=RR hit 3 percent this week, a level long touted as one to watch for p... More »
LONDON (Reuters) – Oil eased on Monday on rising U.S. borrowing costs and the prospect of further output rises after another increase in the weekly rig count, although the overall picture for crude remained bullish. Brent crude futures were down 49 cents at $7... More »
LONDON (Reuters) – Oil recovered some ground on Monday, but prices were still down on the day as investor concern waned about escalating tensions in the Middle East following air strikes on Syria over the weekend. The United States, France and Britain launched... More »
SINGAPORE (Reuters) – Oil markets rose for a second day on Tuesday, with Brent rising above $69 per barrel on hopes a trade dispute between the United States and China, the world’s two biggest crude consumers, may be resolved without greater damage to the glob... More »
LONDON (Reuters) – Oil rose towards $70 a barrel on Monday, lifted by a drop in drilling activity in the United States and concerns that Washington could reintroduce sanctions against Iran. U.S. drillers cut seven oil rigs in the week to March 29, bringing the... More »
SINGAPORE (Reuters) – Top oil exporter Saudi Arabia is expected to cut prices for all crude grades it sells to Asia in May to reflect weaker prices for its Middle East benchmark Dubai crude, trade sources said on Monday. The official selling price (OSP) for fl... More »
HONG KONG/BEIJING (Reuters) – China is taking its first steps towards paying for imported crude oil in yuan instead of the U.S. dollar, three people with knowledge of the matter told Reuters, a key development in Beijing’s efforts to establish its currency int... More »
LONDON (Reuters) – Brent oil lingered below this week’s highs on Thursday, as optimism over OPEC’s commitment to controlling its output was partly offset by another rise in U.S. inventories. The oil price touched $71 a barrel on Tuesday, near its high for the ... More »
NEW YORK (Reuters) – Three firms that bought crude oil last year from U.S. emergency stockpiles raised concerns about dangerous levels of a poisonous chemical in the cargoes, according to internal Energy Department emails and shipping documents reviewed by Reu... More »
FILE PHOTO: A general view shows the al-Shuaiba oil refinery in southwest Basra, Iraq April 20, 2017. REUTERS/Essam Al-Sudani LONDON (Reuters) – Oil prices fell on Monday on expectations that U.S. output will rise this year, erasing earlier gains buoyed by low... More »
A pump jack is seen at sunset near Midland, Texas, U.S., on May 3, 2017. Picture taken May 3, 2017. REUTERS/Ernest Scheyder LONDON (Reuters) – U.S. shale oil output is set to surge over the next five years stealing market share from OPEC producers and moving t... More »
LONDON (Reuters) – A plan to truck oil from Iraq’s northern Kirkuk fields to Iran cannot be fully implemented at this stage due to security concerns, the head of the Iran-Iraq chamber of commerce said on Monday. Iraq and Iran have agreed to swap up to 60,000 b... More »
FILE PHOTO: A view shows Saudi Aramco’s Abqaiq oil facility in eastern Saudi Arabia in this undated handout photo. Saudi Aramco/Handout via REUTERS LONDON (Reuters) – Oil steadied around its highest prices in three weeks on Monday, supported by comments from S... More »
TOKYO (Reuters) – Oil prices extended gains to hit their highest level in nearly two weeks on Monday, buoyed as Asian shares joined a global recovery in equity markets and as worries grew over tensions in the Middle East. Prime Minister Benjamin Netanyahu said... More »
FILE PHOTO – Pump jacks drill for oil in the Monterey Shale, California, U.S. on April 29, 2013. REUTERS/Lucy Nicholson/File Photo LONDON/TOKYO (Reuters) – Oil prices gained on Friday as the dollar slipped to a three-year low and global stocks headed for their... More »
FILE PHOTO: An offshore oil platform is seen in Huntington Beach, California, U.S., September 28, 2014. REUTERS/Lucy Nicholson/File Photo SINGAPORE (Reuters) – Oil prices rose by 1 percent on Monday, recovering at least some of last week’s steep losses as Asia... More »
A trader works on the floor of the New York Stock Exchange shortly after the closing bell in New York, U.S., February 2, 2018. REUTERS/Lucas Jackson NEW YORK (Reuters) – Energy stocks have got off to a strong start this year and look poised to run further, fue... More »
FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. Picture taken May 3, 2017. REUTERS/Ernest Scheyder/File Photo TOKYO (Reuters) – Oil prices on Monday extended declines from the end of last week amid a wid... More »
FILE PHOTO: Workers hired by U.S. oil and gas company Apache Corp drill a horizontal well in the Wolfcamp Shale in west Texas Permian Basin near the town of Mertzon, Texas, U.S., October 29, 2013. REUTERS/Terry Wade/File Photo NEW YORK (Reuters) – Surging shal... More »
FILE PHOTO: A construction site at the new Suncor Fort Hills oil sands mining operations near Fort McMurray, Alberta, Canada, September 17, 2014. REUTERS/Todd Korol/File Photo CALGARY, Alberta (Reuters) – The revolution in U.S. shale oil has battered Canada’s ... More »
FILE PHOTO: A gas station attendant pumps fuel into a customer’s car at a gas station in Shanghai, China November 17, 2017. REUTERS/Aly Song/File Photo SINGAPORE (Reuters) – Oil prices climbed on Monday, pushed higher by comments from Saudi Arabia that coopera... More »
FILE PHOTO: The reception of Noble Group is seen at its headquarters in Hong Kong March 23, 2015. REUTERS/Bobby Yip/File Photo LONDON (Reuters) – Struggling commodities trader Noble Group has completed the sale of its U.S.-focused oil business to the world’s l... More »
Oil hovered below a three-year high near $70 a barrel on Monday on signs that production cuts by OPEC and Russia are tightening supplies, but analysts warned of "red flags" due to surging U.S. production. More »
FILE PHOTO: An offshore oil platform is seen in Huntington Beach, California, U.S. September 28, 2014. REUTERS/Lucy Nicholson/File Photo LONDON (Reuters) – Oil prices fell on Friday after hitting a three-year high of more than $70 a barrel the previous day, bu... More »
A gas station attendant pumps fuel into a customer’s car at PetroChina’s petrol station in Beijing, China, March 21, 2016. REUTERS/Kim Kyung-Hoon SINGAPORE (Reuters) – Oil prices hit their highest levels since 2014 on Wednesday due to ongoing production cuts l... More »
FILE PHOTO: A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma, U.S., September 15, 2015. REUTERS/Nick Oxford/File Photo NEW YORK (Reuters) – Oil prices edged higher on Tuesday, with U.S. crude touching its hig... More »
FILE PHOTO: A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma, U.S., September 15, 2015. REUTERS/Nick Oxford/File Photo SINGAPORE (Reuters) – Oil prices on Friday dipped away from some of their highest levels ... More »
FILE PHOTO – A pumpjack brings oil to the surface in the Monterey Shale, California, U.S. April 29, 2013. REUTERS/Lucy Nicholson/File Photo SINGAPORE/LONDON (Reuters) – Oil prices edged up on Friday, lifted by the Forties pipeline outage in the North Sea, ongo... More »
FILE PHOTO – A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. REUTERS/Lucy Nicholson SINGAPORE (Reuters) – Oil prices were stable on Friday as the weight of a strengthening U.S. dollar was countered by China’s relentless thirst for... More »
A driver looks at the price as he fills the tank of his car at a gas station in Shanghai, China November 17, 2017. REUTERS/Aly Song TOKYO (Reuters) – Oil fell on Monday after U.S. shale drillers added more rigs last week, but prices still held close to their h... More »
Venezuela’s President Nicolas Maduro speaks during an event with supporters in Caracas, Venezuela December 1, 2017. Miraflores Palace/Handout via REUTERS CARACAS (Reuters) – Venezuela’s President Nicolas Maduro on Sunday gained more powers over the OPEC member... More »
A oil pump is seen at sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017 . REUTERS/Christian Hartmann LONDON (Reuters) – Oil prices rose on Friday, following an agreement by OPEC and other major producers to extend output curbs until the end... More »
FILE PHOTO: Equipment used to process carbon dioxide, crude oil and water is seen at an Occidental Petroleum Corp enhanced oil recovery project in Hobbs, New Mexico, U.S. on May 3, 2017. Picture taken on May 3, 2017. REUTERS/Ernest Scheyder/File Photo SINGAPOR... More »
Men work for Iraqi Drilling Company at Rumaila oilfield in Basra, Iraq, May 11, 2017. REUTERS/Essam Al-Sudani SINGAPORE (Reuters) – Oil markets were tepid on Monday as traders were reluctant to take on big new positions ahead of an OPEC meeting at the end of t... More »
Oil prices fell on Tuesday as the prospect of further rises in U.S. output undermined ongoing OPEC-led production cuts aimed at tightening the market. More »
Oil prices hit their highest levels since July 2015 early on Monday as markets tightened, while Saudi Arabia's crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests. More »
Tankers carrying record levels of crude are leaving in droves from Texas and Louisiana ports, and more growth in the fledgling U.S. oil export market may before long test the limits of infrastructure like pipelines, dock space and ship traffic. More »
Oil markets were stable on Monday, with Brent remaining above $60 per barrel supported by expectations that an OPEC-led production cut due to expire next March would be extended. More »
Iraqi forces completed an operation to take control of all oil fields operated by state-owned North Oil Company in the Kirkuk region on Tuesday, a senior military officer said. More »
Oil prices crept higher on Tuesday, holding on to gains made as fighting between Iraqi and Kurdish forces threatened supplies from northern Iraq while political tension rose between the United States and Iran. More »
Oil prices firmed on Friday as strong Chinese oil import data and turmoil in the Middle East boosted bulls in a market that has already shown signs of rebalancing after years of excess. More »
Oil prices edged up on Monday, after a 2 percent slide on Friday, as the number of rigs drilling for new oil in the United States dipped and on expectations that Saudi Arabia would continue to restrain its output to support the market. More »
The founder of an oil and gas networking website who pleaded guilty to hacking a rival site he had created and sold to DHI Group Inc was sentenced to one year and one day in prison on Friday. More »
Oil markets were cautious on Friday as traders monitored a tropical storm heading for the Gulf of Mexico and as China remained closed for a week-long public holiday. More »
Oil steadied on Tuesday, as speculators took profits on some large positions that have built up in the last couple of weeks, but the prospect of gradually ebbing oversupply lent support. More »
Oil prices are unlikely to rise much beyond this month's two-year highs this year, as concern among analysts persists that growing U.S. shale output will hamper the rebalancing between global crude supply and demand, a Reuters poll showed. More »
Oil edged higher on Friday as tensions around Iraqi Kurdistan threatened the region's crude supplies, helping Brent prices to their strongest third-quarter performance since 2004. More »
OPEC's compliance with an agreement among oil producers to reduce output has been acceptable, Iran's oil minister said on Monday, adding that some changes were needed if participants seek to balance the market. More »
Oil prices came under pressure from a strong dollar, but kept most of their gains from the previous session as major producers meeting in Vienna said the market was well on its way towards rebalancing. More »
U.S. crude oil prices slipped below $50 per barrel on Monday but stayed close to multi-month highs amid a drop in shale drilling and as refineries continued to restart after Hurricane Harvey. More »
Oil prices edged lower on Monday on concerns that Hurricane Irma's pounding of heavily populated areas of Florida could dent oil demand in the world's top oil consuming nation. More »
Oil prices edged up on Monday after the Saudi oil minister discussed possibly extending a pact to cut global oil supplies beyond March 2018 with his Venezuelan and Kazakh counterparts. More »
Oil prices steadied on Friday after almost a week of sharp rises as Hurricane Irma, one of the most powerful storms in a century, drove towards Florida after tearing through the Caribbean. More »
The world's largest oilfield services company, Schlumberger NV (SLB.N), is spending billions of dollars buying stakes in its customers' oil and gas projects - investing in the same ventures it supplies with equipment and expertise. More »
U.S. oil prices rose on Tuesday as the gradual restart of refineries in the Gulf of Mexico that were shut by Hurricane Harvey raised demand for crude, their main feedstock. More »
Oil prices dipped on Wednesday but gasoline spiked to its highest since mid-2015 as flooding in the wake of Hurricane Harvey knocked out almost a quarter of U.S. refineries, crimping demand for crude but raising fears of fuel shortages. More »
Oil markets were roiled on Monday after Hurricane Harvey wreaked havoc along the U.S. Gulf coast over the weekend, crippling Houston and its port, and knocking out numerous refineries as well as some crude production. More »
Oil markets were stable on Monday, largely holding on to Friday's big gains even though rising U.S. output weighed on hopes the market will tighten after a 13 percent fall in U.S. crude inventories since March. More »
For the oil-trading community, the fall of hedge fund manager Andy Hall signaled a heavy blow, but while commodity funds continue to shutter their doors, some are finding other ways to make money, including trading refining margins and calendar spreads. More »
Oil prices fell on Monday as a slowdown in Chinese refining raised concerns about demand in the world's second-biggest consumer, while an increase in U.S. drilling capacity could deepen a global supply glut. More »
Oil prices edged down on Monday but still held near nine-week highs, supported by robust U.S. jobs data last week and a slight fall in the U.S. drilling rig count, even as rising output from OPEC reined in crude markets. More »
FILE PHOTO: A worker checks the valve of an oil pipe at Nahr Bin Umar oil field, north of Basra, Iraq December 21, 2015. U.S. oil opened above $50 per barrel for the first time since late May on Tuesday, supported by strong fuel demand, but ongoing high suppli... More »
FILE PHOTO: A man pumps petrol for his car at a petrol station in Hanoi, Vietnam December 20, 2016. Oil edged up to around $49 a barrel on Monday as a slowdown in the increase of rigs drilling in the United States eased concern that surging shale supplies will... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. Wells Fargo (WFC.N) and a number of other lenders are negotiating to take control of a hedge fund previously valued at more than $2 billion that is now worth c... More »
FILE PHOTO: An employee pumps petrol into a car at a petrol station in Hanoi, Vietnam December 20, 2016. Oil rose above $48 a barrel on Wednesday in response to a fall in U.S. fuel inventories and a cut in the U.S. government’s forecast for crude output next y... More »
FILE PHOTO: Shaybah oilfield complex is seen at night in the Rub’ al-Khali desert, Saudi Arabia, November 14, 2007. Saudi Arabia will cut crude oil shipments to its customers in August by more than 600,000 barrels per day to balance the rise in domestic consum... More »
FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed/File Photo The world might be heading for an oil supply shortage following a steep drop in in... More »
A worker walks past oil pipes at a refinery in Wuhan, Hubei province March 23, 2012. REUTERS/Stringer/File Photo Oil prices recovered some losses on Monday after a 3 percent fall in the previous session, but markets remain under pressure from high drilling act... More »
FILE PHOTO: Containers from China Ocean Shipping Company (COSCO) are pictured at a port in Shanghai, China, February 17, 2016. REUTERS/Aly Song/File Photo COSCO Shipping Holdings Co Ltd (601919.SS) has offered to buy Orient Overseas International Ltd (OOIL) (0... More »
FILE PHOTO: Eighteen oil pumpjacks are seen on a Hess well pad near Tioga, North Dakota April 30, 2016. REUTERS/Andrew Cullen/File Photo Oil prices fell more than 2 percent on Friday after data showed U.S. production rose last week just as OPEC exports hit a 2... More »
An employee pumps petrol for clients at a petrol station in Hanoi, Vietnam December 20, 2106. REUTERS/Kham Brent crude oil remained below $50 per barrel on Wednesday, weighed down by another rise in OPEC supplies despite a pledge to cut production, but geopoli... More »
An oil well pump jack is seen at an oil field supply yard near Denver, Colorado, U.S., February 2, 2015. REUTERS/Rick Wilking/File Photo Oil prices flirted with both positive and negative territory on Tuesday, hovering around $50 a barrel on tentative signs th... More »
FILE PHOTO: A wellhead is seen at an Occidental Petroleum Corp carbon dioxide enhanced oil recovery project in Hobbs, New Mexico, U.S. on May 3, 2017. REUTERS/Ernest Scheyder Oil prices edged up on Monday, supported by the first fall in U.S. drilling activity ... More »
An oil rig drilling a well at sunrise, owned by Parsley Energy Inc. near Midland, Texas, U.S., May 3, 2017. Picture taken May 3, 2017. REUTERS/Ernest Scheyder Oil prices rose 1 percent early on Monday on a weaker dollar, but an increase in U.S. drilling activi... More »
FILE PHOTO: Oil tankers pass the skyline of Singapore June 8, 2016. REUTERS/Edgar Su/File Photo As the global oil market frets about a stubborn supply glut, faltering demand growth in key Asian crude importers is further hampering efforts to restore market bal... More »
A diesel oil pump is seen at a bus terminal in Vienna, Austria May 31, 2017. REUTERS/Heinz-Peter Bader Oil edged up on Friday, recovering some of its steep falls earlier in the week, but crude is still set for its worst first-half decline in two decades despit... More »
FILE PHOTO – A pump jack used to help lift crude oil from a well in South Texas’ Eagle Ford Shale formation stands idle in Dewitt County, Texas, U.S. on January 13, 2016. REUTERS/Anna Driver/File Photo In today’s U.S. shale fields, tiny sensors attached to pro... More »
Workers clamp together pieces of pipe while drilling an oil well near Fort Stockton, Texas, U.S., May 4, 2017. REUTERS/Ernest Scheyder Oil prices fell on Wednesday after industry data showed a build in U.S. crude stocks and OPEC reported a rise in its producti... More »
A worker at an oil field owned by Bashneft, Bashkortostan, Russia, January 28, 2015. REUTERS/Sergei Karpukhin/File Photo Crude futures edged up in early Asian trading on Thursday following heavy losses in the previous session after official data showed that U.... More »
An Eikon ship-tracking screen shows tanker traffic around Qatar over the last seven days in this June 6, 2017 illustration photo. REUTERS/Thomas White/Illustration Abu Dhabi petroleum port authorities have eased restrictions on oil tankers going to and from Qa... More »
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. REUTERS/Lucy Nicholson/File Photo Oil prices fell for a third day on Tuesday, hit by concerns that a political rift between Qatar and several Arab states would undermine an OPEC-led ... More »
FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada July 21, 2014. REUTERS/Todd Korol/File Photo Oil prices fell on Monday as a relentless rise in U.S. drilling undermined an OPEC-led push to tighten supply. More »
OPEC President, Saudi Arabia’s Energy Minister Khalid al-Falih, and OPEC Secretary General Mohammad Barkindo talk to journalists before the beginning of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, May 25, 2017.... More »
Kuwaiti Oil Minister Essam al-Marzouq said on Thursday he did not expect OPEC oil producers to discuss any deepening of their oil output reduction target at a meeting where extending the length of the deal is on the agenda. More »
