Energy News Results

  • U.S. oil prices up 6% for the week, biggest weekly gain in 3 months

    Oil futures ended lower on Friday, but tallied a gain of almost 6% for the week, the largest such rise in three months. As the Saudis reveal the extent of damages from the attacks on oil facilities last weekend, "the market mood has shifted to questioning how quickly production can be restored," Manish Raj, chief financial officer at exploration and production firm Velandera Energy Partners, told MarketWatch. "We are familiar with the repair and maintenance processes in oilfield...

  • Oil posts biggest weekly gain in months after attacks on Saudi facilities

    By William Watts and Myra P. Saefong, MarketWatch. For the week, WTI oil up over 6%, Brent gains closer to 7%. Oil futures finished lower on Friday, but registered a sharp gain for the week, their largest in months, after attacks on Saudi Arabian production facilities last weekend raised concerns over the amount of spare capacity in the oil market.

  • *WTI oil futures turn lower ahead of the Nymex settlement

    (END) Dow Jones Newswires 09-20-19 1423 ET Copyright (c) 2019 Dow Jones& Company, Inc..

  • U.S. oil prices pare most of their gains as gasoline futures rally

    Oil futures rose Thursday, but U.S. prices gave up nearly all of their earlier gains by the settlement. Prices found support as Saudi Arabia reportedly contacted foreign producers to help fill holes in its supply chain following last weekend's attacks on the country's production facilities. However, news of storm disruptions to refining activity in Texas suggested a slowdown in demand for crude, prompting U.S. prices to give up nearly all of the day's gains.

  • Gasoline futures rally as tropical storm floods Texas; U.S. crude oil nearly erase the day's gain

    By Myra P. Saefong and William Watts, MarketWatch. Doubts emerge over Saudi Arabia's output recovery. Gasoline took the spotlight away from oil on Thursday as reports of massive flooding in Texas led to concerns of a slowdown in refining activity and lower demand for crude.

  • Why the Saudi oil attack is a 'big deal' that could be a 'game changer' in stock markets and crude prices

    S&P Global Platts forecasts $5 or $10/ bbl. spike in Brent oil prices. An intensifying Middle East conflict is threatening to throw the world's energy market into disarray after weekend drone attacks destroyed parts of Saudi Aramco's Abqaiq plant-- one of the world's largest processors of oil-- and a separate nearby oil field. On Saturday, the drone attacks, directed at Saudi Arabian oil facilities that account for nearly 10 million barrels of crude-oil production, resulted in...

  • Oil stretches losses to 2nd session, with Saudi output on the mend and U.S. supplies on the rise

    By Myra P. Saefong and Mark DeCambre, MarketWatch. Trump announces move to' substantially' raise sanctions on Iran. Oil futures fell on Wednesday, after suffering a sharp loss a day earlier, pressured as Saudi Arabia's output levels looked to recover much sooner than expected and the U.S. government reported a weekly rise in domestic crude inventories, following four consecutive weeks of declines.

  • U.S. oil futures extend losses to a second session

    Oil futures fell on Wednesday, after suffering a loss of nearly 6% a day earlier, pressured as Saudi Arabia's output levels looked to recover much sooner than expected and the U.S. government reported a weekly rise in domestic crude inventories, following four consecutive weeks of declines. Prices briefly pared some of the losses in earlier dealings on the back of rising U.S. tensions with Iran. President Donald Trump announced via Twitter that he ordered Treasury Secretary...

  • *WTI oil futures trade near session lows on Nymex

    (END) Dow Jones Newswires 09-18-19 1319 ET Copyright (c) 2019 Dow Jones& Company, Inc..

  • EIA reports a rise in U.S. crude-oil supplies for the first time in 5 weeks

    The Energy Information Administration on Wednesday reported that U.S. crude supplies rose by 1.1 million barrels for the week ended Sept. 13. They were forecast to fall by 2 million barrels, according to analysts polled by S&P Global Platts. The American Petroleum Institute on Tuesday reported a climb of 592,000 barrels, according to sources. The EIA data showed that gasoline inventories climbed by 800,000 barrels, while distillate stockpiles rose by 400,000 barrels last week.

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