Trends - Crude Oil - Business Recorder

Markets

Oil falls over 3pc as virus cases mount and US debate looms

Global coronavirus deaths surpass 1 million -Reuters tally.
Positive coronavirus cases climb in New York City.
Top traders see tepid oil demand recovery.
Trump-Biden debate in focus.
Libya's Sarir oilfield has restarted production.
US crude stocks seen up last week - Reuters poll.

Published 30 Sep, 2020 01:12am

Markets

Oil falls as virus count mounts, US debate looms

Brent's November contract, which expires on Wednesday, fell 11 cents, or 0.3pc, to $42.32 per barrel by 1023 GMT.

Published 29 Sep, 2020 04:04pm

Markets

Oil prices drop as demand worries counter U.S. stimulus hopes

U.S. West Texas Intermediate (WTI) crude futures dropped 34 cents, or 0.8%, to $40.26 a barrel at 0645 GMT.
The more-active Brent crude futures for December fell 32 cents, or 0.8%, to $42.55 a barrel. The November contract, which expires on Wednesday, fell 27 cents to $42.16 per barrel.

Published 29 Sep, 2020 03:51pm

Markets

Oil up 1pc on economic hope; virus fears check price gains

'Relief rally' pushes equity markets higher.
Firming dollar helps prices.
Russian oil minister warns of resurgent COVID-19 risks.
Higher exports from Iran, Libya.

Published 29 Sep, 2020 01:28am

Business & Finance

Devon Energy to buy shale-oil rival WPX Energy for $2.56bn

The all-stock deal comes as US shale companies have posted big losses on weak crude prices amid the COVID-19 pandemic.
Devon said the deal, expected to close in early 2021, will help cut costs and increase annual cash flow by $575 million by the end of next year.

Published 29 Sep, 2020 01:23am

Markets

Oil steady as equities provide support, COVID-19 hits demand outlook

Firming dollar mitigates some losses.
Russian oil minister warns of resurgent COVID-19 risks.
Higher exports from Iran, Libya.

Published 28 Sep, 2020 11:26pm

Markets

Oil steady as surging virus cases cloud demand outlook

Despite efforts by the Organization of the Petroleum Exporting Countries and their allies to limit output, more crude is being exported from OPEC producers Iran and Libya.

Published 28 Sep, 2020 07:17pm

Markets

Shell books tanker to load crude at Libya's Zueitina oil port

The Amoureux tanker is expected to load a 1 million barrel cargo and then discharge in Singapore on Oct. 22.
Libya's National Oil Corporation (NOC) lifted force majeure on crude loadings at the port on Sept. 22.

Published 26 Sep, 2020 12:28am

Markets

Iran's oil exports jump in September defying sanctions: TankerTrackers

Iranian exports rise to 1.5 million bpd – TankerTrackers.
Other trackers see increased exports, but not on same scale.
Hard to know final destinations due to ship-to-ship transfers.
Iran's oil minister says oil sales are disguised.

Published 26 Sep, 2020 12:23am

Business & Finance

Canadian government commits C$320mn to aid offshore oil industry

O'Regan said in St. John's, Newfoundland and Labrador, that the funds are intended to support jobs, and could be used for maintenance, upgrades and environmental services.
The money falls short of requests from the industry, which included a government stake in a major project, tax credits and investment incentives.

Published 25 Sep, 2020 11:34pm

Markets

Oil heads for 3pc weekly drop as coronavirus demand concerns mount

US records over 7 mln COVID-19 cases, Midwest outbreak surges
Shell books tanker to load crude at Libya's Zueitina oil port
US drillers add rigs for second week, still down for 7th quarter: Baker Hughes

Published 25 Sep, 2020 11:20pm

Business & Finance

Falling Oil Prices threatens Pakistan's Inflow of Remittances

Falling demand for oil in the Gulf States contributes to Pakistani expatriates' growing joblessness and a decline in the inflow of remittances.

Published 25 Sep, 2020 05:04pm

Markets

Rouble rebounds on easing risk aversion, crude strength

At 0755 GMT, the rouble was 0.3pc stronger against the dollar at 76.88 and had gained 0.3pc to trade at 89.75 versus the euro.

Published 25 Sep, 2020 04:36pm

Markets

Oil heading for weekly drop as coronavirus demand concerns mount

Brent crude was up 30 cents at $42.24 a barrel by 0855 GMT, while US West Texas Intermediate (WTI) crude rose 23 cents to $40.54.

Published 25 Sep, 2020 04:07pm

Business & Finance

Oil gains but heading for weekly fall over coronavirus demand concerns

Brent crude was up 17 cents at $42.11 a barrel by 0346 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 gained 16 cents to $40.47.

Published 25 Sep, 2020 10:39am

Markets

Crude steady as rising European COVID-19 cases offset US oil stock draw

Second COVID-19 wave in Europe threatens economic recovery.
US unemployment filings unexpectedly rose last week.
Libya prepares to ramp up exports.
US oil stocks slump but fuel demand subdued –EIA.

Published 25 Sep, 2020 12:00am

Markets

ConocoPhillips sees global oil demand returning

The view stands in contrast to rival BP Plc, which sees the coronavirus pandemic leaving a lasting effect on global energy demand.
Capital spending in 2021 will be "somewhat below" its original planned 2020 level of $6.6 billion, Macklon said.

Published 24 Sep, 2020 11:30pm

Markets

Oil falls as frail demand outlook outweighs US stock drawdown

Brent crude futures fell 21 cents, or 0.5pc, to $41.56 a barrel by 0922 GMT, while US West Texas Intermediate (WTI) crude futures dropped 26 cents, or 0.7pc, to $39.67 a barrel.

Published 24 Sep, 2020 03:26pm

Markets

Oil rises after US crude, fuel stockpiles draw down

• First tanker to load crude at Libya’s Hariga port since January NEW YORK: Oil prices edged higher on...

Published 24 Sep, 2020 02:47am

Markets

Oil rises after US crude, fuel stockpiles draw down

• Libyan oil output recovering, OPEC watching progress NEW YORK Oil rose more than 1% on Wednesday, supported by...

Published 24 Sep, 2020 02:47am

Markets

Oil edges higher after US crude, fuel stockpiles draw down

US oil inventories fall across the board –EIA.
US business activity dips in September -IHS Markit.
First tanker to load crude at Libya's Hariga port since January.

Published 24 Sep, 2020 01:38am

Markets

Oil edges up to $42, eyeing Libya and US inventories

API says US crude inventories rise, fuel stocks fall.
Libyan oil output recovering, OPEC watching progress.
Coming Up: Weekly EIA supply report, 1430 GMT.

Published 24 Sep, 2020 12:47am

Markets

Oil rises 1pc after US crude, fuel stockpiles draw down

A record output cut by the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, has helped revive prices.

Published 23 Sep, 2020 08:39pm

Markets

Oil steadies near $42, US inventories in view

The American Petroleum Institute, an industry group, said crude inventories rose by 691,000 barrels rather than falling as analysts forecast.

Published 23 Sep, 2020 03:10pm

Markets

Oil down after U.S. crude inventories rise against expectations

Brent crude was trading down 30 cents, or 0.7%, at $41.42 a barrel by 0347 GMT, after gaining 28 cents on Tuesday, while U.S. crude dropped 34 cents, or 0.9%, to $39.46.

Published 23 Sep, 2020 10:04am

Markets

Oil slips, unable to rebound from Monday's losses as COVID cases pick up

Brent crude fell 7 cents to $41.37 per barrel by 1:24 p.m. EDT (1724 GMT).
US West Texas Intermediate crude (WTI) for October, due to expire on Tuesday, fell 18 cents to $39.13.
US crude oil and gasoline stockpiles likely fell last week, while inventories of distillates.

Published 23 Sep, 2020 12:44am

Markets

Venezuela's PDVSA to sell crude cargo to Iran's national oil company

Venezuela and Iran are under sanctions imposed by the United States, hurting their oil industries and hitting crude exports.
Washington has sought to disrupt the deepening bilateral trade between the two countries.

Published 22 Sep, 2020 10:21pm

Markets

Oil rises on expectations demand can survive new lockdowns

US West Texas Intermediate (WTI) crude for October, due to expire on Tuesday, rose 58 cents, or 1.5pc, to $39.89.

Published 22 Sep, 2020 07:31pm

Markets

Oil rises as U.S. storm eases, but demand worries linger

U.S. West Texas Intermediate (WTI) crude futures for October, due to expire on Tuesday, rose 26 cents, or 0.7%, to $39.57 a barrel at 0224 GMT.

Published 22 Sep, 2020 10:17am

Markets

Oil falls 5pc as economic outlook dims with rising virus cases

More than 30.78 mln people infected by coronavirus-Reuters tally.
Both crude benchmarks in biggest daily drop since Sept 8.
Storm Beta moving towards the central Texas coast –NHC.

Published 22 Sep, 2020 01:26am