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(Reuters) – Oil prices gave up the previous day’s gains on Tuesday as weak Chinese demand offset U.S. supply disruptions from Tropical Storm Francine and global oil oversupply risks that continue to weigh on the market. Brent crude futures were down 79 cents, or 1.1%, at $71.05 a barrel by 0948 GMT. U.S. West Texas …
Oil Dips as Weak Chinese Demand Counters Storm Francine Read More »
A major U.S. oil and gas trade group on Monday warned that energy production in the Gulf of Mexico could stop if the Commerce Department does not act quickly to publish a new assessment of how endangered species should be protected in the region. WHY IT’S IMPORTANT A court ruling by a federal judge last …
Gulf of Mexico Oil Production Could Stall After Court Ruling, Industry Warns Read More »
Swing state with most Electoral College votes draws resources Tuesday debate in Philadelphia underscores state’s importance Pennsylvania is emerging as the top battleground in the White House race with Kamala Harris and Donald Trump increasingly focusing their attention and resources on the Keystone state. The most populous of the swing states, Pennsylvania — with its 19 Electoral College votes …
The number of workers in US oil fields and the amount they’re paid have now fallen for two straight months to their lowest levels this year, indicating the wave of mergers and acquisitions in the sector are taking a toll on employment. The overall number of front-line US oil and gas workers fell 1.2% on a month-over-month …
Oil Field Jobs and Pay Drop as U.S. Shale Consolidation Takes Hold Read More »
Summary Brent settles at lowest since Dec 2021 US employment increased less than expected in August US active oil rig count held at 483 this week (Reuters) – Oil prices settled 2% lower on Friday, with a big weekly loss after data U.S. jobs data was weaker than expected in August, which outweighed price support …
Oil Settles Down 2%, Big Weekly Drop After U.S. Jobs Data Read More »
Reuters – Oil prices fell slightly on Wednesday, hovering at their lowest levels since December after plunging more than 4% the previous day on signs of a weak global economy, lacklustre oil demand, and expectations of an end to a dispute halting Libyan exports. The oil price decline came during a broader sell-off in world markets, with …
Oil Prices Slip again on Demand Concerns, Possible End to Libya Row Read More »
By Hugo Dixon (Reuters Breakingviews) – Donald Trump has called climate change a “hoax”, while Kamala Harris says it is an “existential threat”. Those who care about limiting global warming will therefore be hoping the U.S. vice president wins the race for the White House. Scrutinise Harris’ words since she became the Democratic Party’s presidential …
OPINION: Why Kamala Harris Could be Good for the Planet Read More »
(Reuters) – OPEC+ has two problems and two solutions. The first problem is that crude oil prices are too low for the comfort of most of the members of the group, which pulls together the Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia. The second issue is that crude demand has …
OPEC+ Has Oil Price and Demand Problems. It Should Solve Demand Read More »
Summary OPEC+ to proceed with planned oil output hike from October U.S. consumer spending data dampens hopes for hefty Fed rate cut Libya’s oilfield closures cause significant production losses HOUSTON, Aug 30 (Reuters) – Oil prices retreated on Friday as investors weighed expectations of a rise in OPEC+ supply starting in October, alongside dwindling hopes …
Oil Settles $1 down as Supply set to Rise, Uncertainty Around Fed Rate Cuts Read More »
(Reuters) – Oil prices steadied on Friday on track for a weekly gain as Libyan output disruptions and Iraqi plans to curb production raised supply concerns, while data showing the U.S. economy grew faster than initial estimates eased recession fears. Still, signs of weakened demand, particularly in China, limited gains. Brent crude futures for October delivery …
