Energy News Results

  • Oil Prices Swing After Saudi Arabia Deepens Supply Cuts

    Oil prices swung between gains and losses Monday, pausing a recent rebound after Saudi Arabia said it would deepen its supply cuts to support beleaguered energy markets. U.S. crude futures for delivery in June were recently up 1.9% at $25.20 a barrel in volatile trading. Prices have risen lately with parts of the world lifting lockdown measures and fuel consumption slowly climbing.

  • Copper Rebounds on Hopes for Economic Recovery

    Copper prices rose Friday, extending a recent rebound with investors anticipating an uptick in demand as parts of the world roll back lockdown measures and trade tensions ease. Front-month copper futures for May delivery rose 1% to $2.4085 a pound on the Comex division of the New York Mercantile Exchange, recording a fifth consecutive climb and their best week since February 2019. Prices have recovered 14% from a multiyear low hit in late March, lifted by nascent optimism that...

  • Copper Rebounds on Hopes for Economic Recovery

    Copper prices rose Friday, extending a recent rebound with investors anticipating an uptick in demand as parts of the world roll back lockdown measures and trade tensions ease. Most actively traded copper futures for July delivery rose 1.4% to $2.4145 a pound on the Comex division of the New York Mercantile Exchange, heading for a fifth consecutive climb. Prices have recovered roughly 15% from a multiyear low hit in late March, lifted by nascent optimism that demand will return...

  • The Glut Drowning the Oil Market -- Update

    By Amrith Ramkumar, Tristan Wyatt and Collin Eaton. The world is running out of room for its oil. Lockdown measures are crippling demand, and supply isn't falling quickly enough to keep up.

  • Saudi Aramco Raises June Crude Official Selling Price to Asia

    Saudi Aramco on Thursday raised the price at which it will sell oil to almost all global markets in June, after Riyadh agreed in April to end its price war with Russia and join historic production cuts. State-run Saudi Arabian Oil Co. raised the official selling price of all grades of crude sold to the Far East in June, and increased the June price for its Arab light crude oil to Asia by $1.40 a barrel from May. The one exception to those increases was super-light crude-oil, which Aramco...

  • The Glut Drowning the Oil Market

    By Amrith Ramkumar, Tristan Wyatt and Collin Eaton. The world is awash in oil. Lockdown measures are crippling demand, and supply isn't falling quickly enough to keep up.

  • China Bank Draws Outcry on Oil Losses -- WSJ

    This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal. A top Chinese bank is trying to reach a deal with investors caught out by negative oil prices, after plans to hold individuals accountable for losses greater than their original investments drew scrutiny from regulators and sparked a social-media outcry. When West Texas Intermediate crude futures for May delivery...

  • Oil's 'Relief Rally' Stalls After Prices Double -- Update

    Energy producers are throttling back their output, drivers are returning to the road and U.S. oil prices are roughly twice what they were a week ago, raising hopes-- but not confidence-- that the mounting fuel glut won't overwhelm the world's capacity to store oil. Since reaching a record in mid-March, daily U.S. crude production has declined by more than a million barrels and big producers are promising to push it lower yet by shutting in old wells, waiting to bring online the newly...

  • Oil's 'Relief Rally' Stalls After Prices Double -- Update

    Energy producers are throttling back their output, drivers are returning to the road and U.S. oil prices are roughly twice what they were a week ago, raising hopes-- but not confidence-- that the mounting fuel glut won't overwhelm the world's capacity to store oil. Since reaching a record in mid-March, daily U.S. crude production has declined by more than a million barrels and big producers are promising to push it lower yet by shutting in old wells, waiting to bring online the newly...

  • Oil's 'Relief Rally' Stalls after Prices Double

    Energy producers are throttling back their output, drivers are returning to the road and U.S. oil prices are roughly twice what they were a week ago, raising hopes-- but not confidence-- that the mounting fuel glut won't overwhelm the world's capacity to store oil. Since reaching a record in mid-March, daily U.S. crude production has declined by a million barrels and big producers are promising to push it lower yet by shutting in old wells, waiting to bring online the newly drilled and...

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