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oil


Reuters/Shamil Zhumatov Oil prices fell for a second consecutive session on Tuesday on fears that global storage for oil is running out. The price of West Texas Intermediate fell as much as 21%, to $10.07 per barrel on Tuesday. The losses follow a drop that reached 30% on Monday after United States Oil Fund — …

Stocks opened higher Thursday, after weekly jobless claims topped 4.4 million, but were down from a week earlier. Earnings news and spiking oil prices influenced early trade, as investors waited on a federal stimulus vote. Casino owners rallied after a bullish outlook from Las Vegas Sands. Walmart lagged on the Dow Jones today, tripped up …

European markets traded in positive territory on Wednesday, apparently defying widespread concerns over the coronavirus outbreak and a slump in oil prices. Meanwhile in China, the country’s National Health Commission (NHC) said there were 30 new confirmed cases as of April 21, of which 23 were attributed to travelers coming from overseas. That brings the …

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 …

Something that’s never happened in the oil market is happening today: negative prices on an oil contract. While many people may see this and think the overall price of oil is negative, there’s nuance. The short answer is that no, not all oil is free. The picture in the market is not as bleak as …

Danielle Nelson’s best monitor for the emissions billowing out of the oil refineries and chemical plants surrounding her home: The heaving chest of her 9-year-old asthmatic son. On some nights, the boy’s chest shudders as he fights for breath in his sleep. Nelson suspects the towering plants and refineries are to blame, rising like a …

US crude oil prices crash below $15 a barrel David Sheppard in London US crude oil prices fell more than 20 per cent as trading reopened on Monday, crashing below $15 a barrel for the first time since 1999. The latest slump, which has seen US oil prices hit a succession of lows, comes as …

© Reuters. By Barani Krishnan  Investing.com – The U.S. fell by 66 this week, data from the industry firm Baker Hughes showed, indicating the massive production cuts undertaken by domestic oil drillers as crude prices hit near-19-year lows. Baker Hughes data showed oil rigs down to 438 this week from 504 last week, down 13%. …

Oil Price War Ends With Historic OPEC+ Deal to Cut Production  Bloomberg As Russia and Saudi Arabia Retreat, U.S. Oil Industry Avoids the Worst  The New York Times OPEC and allies finalize record oil production cut after days of discussion  CNBC The U.S.-Saudi-Russia Oil Cease-Fire Won’t Last  Bloomberg OPEC+ and the G-20 Say ‘Yes’ To Duress  Bloomberg View Full Coverage …