* Force majeure lifted at Libya's Sharara oilfield. * Hurricane Delta downgraded on Sunday. * Norway oil strike ended on Friday. By Laura Sanicola. Oil prices settled about 3% lower on Monday as force majeure at Libya's largest oilfield was lifted, a Norwegian strike affecting production ended and U.S. producers began restoring output after Hurricane Delta.
* But Colonial Pipeline shut middle distillates supply line. * Norway oil workers end strike on Friday. By Florence Tan. Oil prices dropped for a second straight session on Monday as U.S. producers began restoring output after Hurricane Delta weakened, while a strike that had affected production in Norway came to an end.
Iraqs Oil Minister Ihsan Abdul Jabbar said oil prices are expected to reach around $45 in the first quarter of 2021, the al-Sabah state newspaper reported on Sunday. Iraq has also based a draft 2021 federal budget on a projected oil price of $42 per barrel, the paper cited the oil minister as saying.
U.S. inventories of crude oil rose slightly last week but supplies of gasoline and other fuels declined, according to data released Wednesday by the Energy Information Administration. Benchmark U.S. oil prices, which were sharply lower before the mixed-to-bearish data were released, extended those declines slightly afterward. The Nymex front-month crude contract for November delivery was recently down 3% at $39.45 a barrel.
Fujairah Oil Industry Zone on Wednesday published the following
weekly inventory data for oil products for the week ended Oct. 5, according to industry
information service S&P Global Platts.
* U.S. crude stocks rose, fuel stocks dip -API. * Norway strikes buoy markets. * Hurricane brews in Gulf of Mexico. By Laila Kearney. Oil prices rose more than 2% on Tuesday, supported by expected supply disruptions from a hurricane approaching the Gulf of Mexico and an oil worker strike in Norway.
Several publicly traded energy companies took millions of dollars in U.S. taxpayer-funded loans to support their businesses even as those firms had access to other ways to generate cash, according to a Reuters analysis of U.S. Securities and Exchange Commission and other government data.
Several publicly traded energy companies took millions of dollars in U.S. taxpayer-funded loans to support their businesses even as those firms had access to other ways to generate cash, according to a Reuters analysis of U.S. Securities and Exchange Commission and other government data.
OIL LOGISTICS COMPANY CLH: * OIL PRODUCT DELIVERIES TO THE SPANISH MARKET FROM CLH TERMINALS DECREASED BY 24.2% IN SEPTEMBER YEAR ON YEAR DUE TO THE COVID-19 CRISIS Source text: https://bit.ly/3irAS1q.
- U.S. oil giant Exxon Mobil (XOM) said on Monday it plans to reduce its European workforce by up to 1,600 across the company's affiliates by the end of 2021 as part of its global review. Exxon said country-specific cuts will depend on the oil major's local business footprint and market conditions, after the COVID-19 pandemic hammered demand for its products and crude prices tanked.
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