Energy News Results

  • Oil slips on China's plan to release crude from reserves, airline demand woes

    Oil prices dipped on Friday, heading for weekly losses of nearly 2%, after China announced it would release oil from it strategic reserve and some U.S. airlines, key to a recovery in jet fuel demand, warned of a slowdown in ticket sales https://www.reuters.com/business/aerospace-defense/united-airlines-warns-delta-variant-hit-revenue-capacity-2021-09-09.

  • Oil dives late, hit by China supply plan, U.S. bond auction

    Oil prices fell to a two-week low on Thursday as China rolled out a plan to release state oil reserves, the U.S. weekly crude draw was smaller than expected and U.S. Treasuries rallied as investors sought safer assets. In volatile trade, Brent futures fell $1.15, or 1.6%, to settle at $71.45 a barrel.

  • TABLE-UAE's Fujairah oil inventory data for week ended Sept 6

    Fujairah Oil Industry Zone on Wednesday published the following weekly inventory data for oil products for the week ended Sept. 6, according to industry information service S&P Global Platts.

  • Oil settles up 1% on low U.S. output after hurricane

    Oil prices jumped on Wednesday and settled up more than 1% as U.S. Gulf of Mexico producers made slow progress in restoring output after Hurricane Ida. Brent settled up 91 cents, or 1.3%, at $72.60 and U.S. West Texas Intermediate crude settled up 95 cents, or 1.4%, to $69.30 a barrel.

  • OPEC+ keen to keep oil prices at $65-$75 a barrel, Lukoil chief says

    The head of Russia's No. 2 oil producer Lukoil said that oil prices of $65-$75 were "comfortable" for consumers and that the OPEC+ group of leading oil-producing nations was striving to maintain that price range by regulating output. In an interview with the Kommersant newspaper published on Tuesday, Vagit Alekperov said curbs on oil output would depend on market conditions.

  • Oil slides on demand concerns, strong dollar

    Oil prices fell on Tuesday, pressured by a strong U.S. dollar and concerns about weak demand in the United States and Asia, although ongoing production outages on the U.S. Gulf Coast capped losses.

  • Oil down after deep Saudi price cuts spur demand concerns

    * U.S. Gulf Coast oil industry struggles with Ida recovery. * U.S. oil rig count falls most since June 2020 -Baker Hughes (BKR). By Julia Payne. Oil prices fell on Monday, extending losses after the world's top exporter Saudi Arabia slashed crude contract prices for Asia over the weekend, reflecting well-supplied global markets and concerns over the outlook for demand.

  • Saudi Arabia slashes crude prices to Asia; U.S., Europe prices steady

    Saudi Arabia, the world's top oil exporter, slashed prices of all crude grades to Asian customers in October versus September, but left prices to northwestern Europe and the United States steady. The deep price cuts come as lockdowns across Asia to combat the highly infectious delta variant of the coronavirus have capped fuel demand in the region.

  • Oil falls after Saudi price cuts

    Oil prices fell on Monday after Saudi Arabia's sharp cuts to crude contract prices for Asia revived concerns over the demand outlook. Brent crude futures fell 39 cents to settle at $72.22 a barrel.

  • Oil extends losses after deep cuts to Saudi crude prices for Asia

    * U.S. Gulf Coast oil industry struggles with Ida recovery. * U.S. oil rig count falls most since June 2020 -Baker Hughes (BKR). By Florence Tan. Oil prices extended losses on Monday after the world's top exporter Saudi Arabia slashed crude prices for Asia over the weekend, signalling that global markets are well supplied.

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