Posts in tag

crude oil


LONDON (Reuters) – Global shares struggled on Wednesday as mixed earnings, doubts about the easing of coronavirus lockdowns and simmering U.S.-China tensions cast a pall over markets. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville Oil prices ended an extended winning streak …

Saudi Arabia’s oil-price war with Russia flooded the market with crude. Now, with demand having dried up and buyers hard to find, the kingdom is resorting to storing much of it at sea. At least one in 10 supertankers around the world is serving as a floating oil storage facility, Saudi oil officials say. With …

On Monday afternoon, oil prices hit an all-time low, dipping below $0 for the first time in history. Traders blamed the drop on the expiration of the May futures contract on Tuesday coupled with a sharp decline in demand amidst the coronavirus shutdowns. According to NPR, at the start of the year, a barrel of …

LONDON/SYDNEY (Reuters) – Caution recaptured world markets on Monday as another drubbing for U.S. crude oil futures kicked off a week of data and earnings that will drive home the damage being inflicted by global coronavirus lockdowns. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, …

LONDON (Reuters) – European stocks rose on Wednesday after the Bank of England joined other central banks in cutting interest rates, raising hopes for more co-ordinated monetary and fiscal stimulus to counter the economic shock from the coronavirus outbreak. File Photo: A street cleaning operative walks past the London Stock Exchange Group building in the …

NEW YORK/LONDON (Reuters) – Oil and global equity markets charged back on Tuesday after the prior day’s steep losses as the world’s biggest economies moved to cushion the impact of the coronavirus, but stock gains in Europe failed to hold as investors remained skittish. The price of Brent crude climbed 10% on hopes a supply …

SINGAPORE (Reuters) – Oil prices rose by more than $1 on Tuesday after a price war by top producers Saudi Arabia and Russia sparked the biggest daily rout since the 1991 Gulf War, but investors saw little chance of a quick price recovery as the coronavirus cuts demand. FILE PHOTO: Drilling rigs operate at sunset …

Saudi Arabia is considering a break from its four-year oil-production alliance with Russia, according to people familiar with the matter, as China’s coronavirus outbreak contributes to a drop in global oil demand. The Saudi kingdom, Kuwait and the United Arab Emirates—which collectively represent over half of OPEC’s production capacity—are holding talks this week to discuss …

Big makers and users of plastic packaging are betting on a recycling technology that has failed for decades to take off, as a public backlash and new rules push them to find ways to cut waste and greenhouse-gas emissions tied to plastic. Plastic makers like BP PLC and Dow Inc., and packaging users like Coca-Cola …

Pelican Energy Partners has invested in Shepherd Safety Systems LLC, betting the provider of hazardous-gas monitoring systems can expand even as demand for energy services slows. Shepherd develops technologies that enable energy companies to remotely monitor the levels of hydrogen sulfide, or H2S—a potentially lethal gas—present in their operations. The gas often seeps from oil …