Energy News Results

  • Oil rises over 1% on hopes demand will rebound from coronavirus effect

    Oil prices rose over 1% on Friday, posting their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown. Brent crude rose 98 cents, or 1.74%, to settle at $57.32 a barrel.

  • Oil up a 3rd straight session as traders eye coronavirus and OPEC output update

    By Myra P. Saefong and William Watts, MarketWatch. International Energy Agency cuts forecast for world demand growth. Oil futures ended higher Thursday, extending their streak of gains to a third straight session, as the potential for OPEC+ output cuts fueled some optimism, despite a rise in the number of COVID-19 cases in China and lower forecasts for oil demand growth.

  • Oil prices post a modest gain as traders weigh coronavirus, OPEC

    Oil prices ended modestly higher on Thursday as traders weighed the latest developments tied to coronavirus as well as prospects for potential production cuts by the Organization of the Petroleum Exporting Countries and its allies. U.S. benchmark crude futures "found support below $50, which is a breakeven point for many shale producers," said Marshall Steeves, energy markets analyst at IHS Markit. "There is also the view that Russia will eventually capitulate to the new OPEC+...

  • Why natural-gas prices may sink further after hitting 2016 lows

    Natural-gas prices recently dropped to their lowest level in almost four years-- and analysts warn that supply and demand figures point to further losses for the commodity. On Feb. 10, natural-gas futures settled at $1.766 per million British thermal units, the lowest finish since March 2016, according to Dow Jones Market Data. Prices edged up to settle at $1.844 on Wednesday, but have already lost nearly 16% year to date.

  • Stranded tankers, full storage tanks: coronavirus leads to crude glut in China

    * Coronavirus hits demand in China, world's largest crude importer. * Cargoes diverted to South Korea, Malaysia. * Shandong storage near peak seen in June 2019 - Kpler. * Port operators working to move oil out of storage. By Muyu Xu, Shu Zhang and Devika Krishna Kumar.

  • Centrica shares plunge on forecast for cash flow decline

    Centrica (CPYYF) shares plunged over 16% in London, its worst one-day percentage decline since July 30. The U.K. electricity and gas provider said 2020 adjusted operating cash flow is likely to fall to the bottom end of a range of GBP1.6 billion to GBP1.8 billion if current commodity prices are maintained, after it fell 18% to GBP1.83 billion in 2019. Its adjusted operating profit last year fell 35% to GBP901 million, after a tariff cap in the U.K. and falling natural-gas prices.

  • IEA cuts world oil demand growth view to lowest since 2011

    The International Energy Agency on Thursday lowered its view on world oil demand growth to the lowest level since 2011 due to the coronavirus outbreak that has paralyzed China. The IEA cut growth in 2020 by 365,000 barrels a day to 825,000 barrel a day. Crude-oil futures fell 41 cents to $50.76 a barrel.

  • Oil prices climb on prospects for deeper OPEC+ output cuts

    Oil prices edged higher on Thursday, as investors hoped the world's biggest producers would cut output more, while they largely shrugged off forecasts of slumping demand due to the coronavirus outbreak in top oil importer China. Brent crude was up 58 cents, or 1.04%, at $56.37 a barrel by 12:20 p.m. ET, while U.S. West Texas Intermediate was up 40 cents, or 0.8%, at $51.57 a barrel.

  • Oil rises for third day as coronavirus impact may spur output cuts

    Oil prices rose for a third day on expectations that major producers are likely to enact deeper output cuts to offset the slump in demand caused by the coronavirus outbreak in China, the world's second-largest crude consumer. Brent crude rose 17 cents, or 0.3%, to $55.96 per barrel at 0217 GMT.

  • Oil ends higher as worries ease over coronavirus hit to crude demand, but U.S. supplies rise a third week

    By Myra P. Saefong and William Watts, MarketWatch. U.S. gasoline, distillate stockpiles post weekly declines. Oil futures finished higher on Wednesday, finding support as a slowdown in the number of new, confirmed cases of COVID-19 in China may translate into a smaller-than-feared hit to crude demand.

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