Energy News Results

  • Oil prices fall as market weighs coronavirus demand impact

    Oil prices fell on Tuesday, tracking losses in financial markets on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand. Brent crude was at $57.07 a barrel, down 60 cents, or 1%, by 0348 GMT, while U.S. West Texas Intermediate crude fell 38 cents, or 0.7%, to $51.67 a barrel.

  • Oil edges up as output cut hopes offset coronavirus concern

    Oil prices inched up on Monday as concerns over the economic fallout from the coronavirus outbreak in China were offset by expectations that potential production cuts from major producers could tighten global crude supply. Brent crude was at $57.59 a barrel, up 27 cents, by 12:55 p.m. EST after rising 5.2% last week, its biggest weekly gain since September 2019.

  • S.Korea's Jan U.S. crude imports rise 53.3% on-year

    * Jan U.S. crude imports at 1.72 mln T, up 53.3% y/y. * Total Jan crude imports edge down 0.3% at 12.42 mln T on-year. By Jane Chung. South Korea's U.S. crude imports in January rose 53.3% from a year earlier, customs data showed on Saturday, reflecting the country's steady purchases of U.S. oil in the absence of Iranian crude due to sanctions.

  • U.S. drillers add oil rigs for second week in a row -Baker Hughes

    U.S. energy firms added oil rigs for a second week in a row as crude prices, which have dropped about 15% this year, were set to rise this week as investor concerns began to ease over the long-term economic impact of the coronavirus.

  • 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.

  • 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.

  • 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.

  • Global ship deliveries hit by coronavirus disruption to China yards

    Global ship deliveries have been hit as yards in China struggle to get fully back to work as a result of the coronavirus outbreak, with one shipbuilder saying it could not deliver two vessels. The coronavirus has caused chaos in Asia and beyond with flights suspended, businesses disrupted and entry restrictions imposed by governments trying to ward off its spread.

  • Chinese shipbuilder New Times declares force majeure due to coronavirus

    A Chinese shipbuilder has declared force majeure on deliveries of two newcastlemax dry bulk vessels, a company spokesman said on Wednesday, as a coronavirus outbreak and prolonged holiday impeded workers from returning to work.

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