Energy News Results

  • Brazil's Coronavirus Crisis Disrupts Iron-Ore Market; Prices Surge -- Update

    Brazil's deadly coronavirus outbreak has disrupted global supplies of iron ore just as demand from China is revving up, pushing the price of the steel ingredient to a seven-month high. Iron ore is one of the most heavily traded commodities and can influence the price of materials used in everything from buildings to cars. Front-month futures for ore with 62% iron content jumped 10% to nearly Yen759 a metric ton Wednesday on China's Dalian Commodity Exchange.

  • Deflation Hit Canada in April -- Update

    OTTAWA-- Canada's annual inflation rate dipped into negative territory in April, the first year-over-year price decline in over a decade, largely attributable to a sizable drop in gasoline. The biggest year-over-year decline on record for gasoline offset notable price increases in dry and preserved foods, and cleaning products. Demand for those products rose because of the coronavirus pandemic, and a request from health authorities to limit grocery-store visits.

  • Brazil's Coronavirus Crisis Disrupts Iron-Ore Market, as Prices Surge

    Brazil's deadly coronavirus outbreak has disrupted global supplies of iron ore just as demand from China is revving up, pushing the price of the steel ingredient to a seven-month high. Iron ore is one of the most heavily traded commodities and can influence the price of materials used in everything from buildings to cars. Front-month futures for ore with 62% iron content jumped 10% to nearly Yen759 a metric ton Wednesday on China's Dalian Commodity Exchange.

  • Return of Car Traffic Fuels Surge in Oil

    Oil prices are staging a furious comeback from last month's collapse, lifted by record supply cuts and a pickup in global fuel demand that many investors hope heralds a swift economic recovery. With prices still below levels at which most producers can make money, companies from Exxon Mobil Corp. (XOM) to EOG Resources Inc. (EOG) are curtailing output and shutting off productive wells. Those supply cuts come with rising factory activity in China boosting fuel consumption while economic...

  • Correction to Bets on Crude for December Delivery Article on May 18

    The June 2020 contract for West Texas Intermediate futures expires on May 19. "The Oil Market Is Betting People Want Crude for Christmas" at 3:44 p.m. ET on May 18 incorrectly said May 18 was its final day of trading.

  • Return of Car Traffic Fuels Surge in Oil

    Oil prices are staging a furious comeback from last month's collapse, lifted by record supply cuts and a pickup in global fuel demand that many investors hope heralds a swift economic recovery. With prices still below levels at which most producers can make money, companies from Exxon Mobil Corp. (XOM) to EOG Resources Inc. (EOG) are curtailing output and shutting off productive wells. Those supply cuts come with rising factory activity in China boosting fuel consumption while economic...

  • Return of Car Traffic Fuels Surge in Oil

    Oil prices are staging a furious comeback from last month's collapse, lifted by record supply cuts and a pickup in global fuel demand that many investors hope heralds a swift economic recovery. With prices still below levels at which most producers can make money, companies from Exxon Mobil Corp. (XOM) to EOG Resources Inc. (EOG) are curtailing output and shutting off productive wells. Those supply cuts come with rising factory activity in China boosting fuel consumption while economic...

  • The Oil Market Is Betting People Want Crude for Christmas -- Update

    The most wagered-upon oil prices these days are for crude bobbing at sea on big tankers-- or even still in the ground. In futures markets for both overseas-benchmark Brent and West Texas Intermediate, the main U.S. price, barrels for December delivery have the highest open interest, or total number of options and outstanding contracts. It is unusual for betting to center on barrels scheduled for delivery so far into the future.

  • The Oil Market Is Betting People Want Crude for Christmas

    The most wagered-upon oil prices these days are for crude bobbing at sea on big tankers-- or even still in the ground. In futures markets for both overseas-benchmark Brent and West Texas Intermediate, the main U.S. price, barrels for December delivery have the highest open interest, or total number of options and outstanding contracts. It is unusual for betting to center on barrels scheduled for delivery so far into the future.

  • Oil Demand Mounts Comeback as Coronavirus Restrictions Ease -- 2nd Update

    By Benoit Faucon, Summer Said and David Hodari. Oil consumption is rising again in those parts of the world emerging from coronavirus lockdowns, helping to alleviate a global glut and rebalance a market stymied by months of low demand and a devastating rout that saw prices drop as much as two-thirds this year. Green shoots of an oil recovery are sprouting with regions of China attempting a semblance of normal life as lockdowns are eased and parts of Europe and the U.S. allow...

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