Oil futures jumped Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen output reductions in June in an attempt to help drain the…
Posts published in “Oil & Gas”
Chesapeake Contemplates Bankruptcy Filing After Oil Battle
Chesapeake Energy stated Monday it was unable to access financing and was contemplating a bankruptcy court shakeup of its more than $9 billion debt if oil…
Oil Again Plunges Amid Flooding Storage, Fears of Second COVID-19 Wave
Oil costs plunged Monday as concern over a persistent excess and financial gloom brought on by the coronavirus pandemic combined to cancel out support from…
U.S. Oil and Gas Drillers to Cut Rigs to Eight Decades Low
The number of oil and gas rigs functioning in the U.S. is expected to reach an all-time low this week – mirroring data going back…
Oil Stands Firm as China Begins Consumption
Oil prices steadied Thursday as knowledge showed China’s crude imports rebounded, but market watchers expect gains to be limited by the excess in supplies as…
Oil Breaks Six Days Growing Candle As U.S. Stockpile Reassert Supply Worries
Oil prices dropped Wednesday, ending a multi-day candle of gains, as investors focused on oversupply risks after U.S. crude inventories rose over expected amid a…
Oil Jump 10% As Fuel Demand Sets for Revival
Oil prices leaped Thursday, extending steep gains in the earlier session on signs the U.S. crude glut is not rising as shortly as expected and…
Oil Prices Leap as Storage Capacities Fill Less Rapidly
U.S. oil costs leaped Wednesday, trimming some of this week’s losses after U.S. stockpiles surged less than expected, and on expectations, demand will increase as…
Oil Prices Tank As Countries Fall Short of Storage Capacity
Oil prices plunged Tuesday again amid concern about tanking crude storage capacity worldwide and fears that fuel demand may recover slowly once nations ease bans imposed…
Oil Prices Plunge, June WTI Heads for Losses on Storage Worries
Oil prices slumped Monday on indicators that global oil storage is filling rapidly, raising concerns that output reductions won’t be fast enough to fully offset…