Energy News Results

  • Oil settles down 1% as U.S. refineries shut; Washington pushes OPEC to pump more

    * OPEC+ expected to proceed with output increase. * Hurricane Ida shuttered refiners on the U.S. Gulf Coast. By Laura Sanicola. Oil settled down 1% on Tuesday, posting its first monthly loss since March, as demand is expected to drop after Hurricane Ida shuttered U.S. Gulf refineries. Brent crude futures for October, due to expire on Tuesday, settled down 42 cents, or 0.6%, at $72.99 a barrel.

  • Oil settles down 1% as U.S. refineries shut; Washington pushes OPEC to pump more

    Oil settled down 1% on Tuesday, posting its first monthly loss since March, as demand is expected to drop after Hurricane Ida shuttered U.S. Gulf refineries. Brent crude futures for October, due to expire on Tuesday, settled down 42 cents, or 0.6%, at $72.99 a barrel.

  • Oil posts biggest weekly gains in over a year ahead of Hurricane Ida

    Oil prices rose 2% on Friday, posting their biggest weekly gains in over a year, as energy firms began shutting U.S. production in the Gulf of Mexico ahead of a major hurricane expected to hit early next week.

  • Oil rally falters on pandemic surge, renewed Mexico supply

    Oil settled lower on Thursday, snapping a three-day rally on renewed concerns over demand due to rising COVID-19 infections and as Mexico restored some output after a fire disrupted supplies. Losses were limited by the potential for other supply interruptions. Brent crude settled down $1.18, or 1.6%, at $71.07 a barrel.

  • Oil rally falters on pandemic surge, renewed Mexico supply

    Oil settled lower on Thursday, snapping a three-day rally on renewed concerns over demand due to rising COVID-19 infections and as Mexico restored some output after a fire disrupted supplies. Losses were limited by the potential for other supply interruptions. a severe storm hitting the U.S. Gulf Coast this weekend. Brent crude settled down $1.18, or 1.6%, at $71.07 a barrel.

  • Phillips 66 refinery sale offers test of future for motor fuel suppliers

    U.S. refiner Phillips 66's decision to market a Louisiana oil processing plant offers a key test of investors' views on the pace of the transition to electric vehicles, refinery industry experts said on Wednesday.

  • TABLE-UAE's Fujairah oil inventory data for week ended Aug. 23

    Fujairah Oil Industry Zone on Wednesday published the following weekly inventory data for oil products for the week ended Aug. 23, according to industry information service S&P Global Platts.

  • Oil extends rally, rises over 1% on U.S. fuel demand recovery

    Oil prices rose more than 1% on Wednesday, extending gains for a third session, after U.S. government data showed that fuel demand climbed to its highest since the start of the COVID-19 pandemic. Brent crude rose $1.20, or 1.7%, to settle at $72.25 a barrel. U.S. gasoline futures rose 5.5% to settle at $2.3008 a gallon.

  • U.S. heavy oil prices rise as market braces for Mexico supply hit

    * Pemex output outage could take weeks to resolve. * U.S. refiners preparing for crude delivery disruptions. By Devika Krishna Kumar and Marianna Parraga. Prices of heavy sour crude oil grades have been rising in the U.S. Gulf Coast, traders said, as the market braces for a disruption of supplies from Mexico in the wake of a fire that has cut state-run Pemex's oil output by about 25% since Sunday.

  • Heavy crude prices rise as Pemex fire roils U.S. market, traders say

    Prices of heavy sour crude oil grades are rising in the U.S. Gulf Coast, traders said, as the market braces for a disruption of supplies from Mexico in the wake of a fire that has cut state-run Pemex's oil output by about 25% since Sunday.

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