Energy News Results

  • Crude Prices Up on the Week, Shrugging Off Coronavirus Worries

    Oil prices rose this week, snapping a five-week losing streak and shrugging off a downbeat U.S. inventory report, revisions lower in crude-demand growth forecasts and fresh worries about the scope of the coronavirus outbreak in China. U.S. crude futures rose 3.4% to $52.05 a barrel this week after posting a 1.2% gain on Friday. Brent, the global gauge of prices, rose 5.2% for the week to $57.32 a barrel and climbed 1.7% on Friday.

  • Crude Prices Rise, Shrugging Off Coronavirus Worries

    Oil prices rose Friday, shrugging off a downbeat U.S. inventory report, slashes in crude-demand growth forecasts and fresh worries about the scope of the coronavirus outbreak in China. U.S. crude futures rose 0.5% to $51.69 a barrel, while Brent, the global gauge of prices, rose 0.8% to $56.78 a barrel. Prices climbed after the Energy Information Administration reported that domestic crude stockpiles rose by 7.5 million barrels last week, more than double the 2.9- million-barrel...

  • U.S. Oil Inventories Rise More Than Expected

    U.S. inventories of crude oil increased more than expected last week while stockpiles of gasoline and other fuels declined, according to data released Wednesday by the Energy Information Administration. Benchmark U.S. oil prices, which were sharply higher before the report was released, remained so afterward but pared those gains slightly. The Nymex crude contract for March delivery was recently 3% higher at $51.45 a barrel.

  • Oil Falls for Fifth Week as Investors Weigh Coronavirus Fallout

    Oil prices fell for the fifth week in a row as investors tried to gauge the fallout from a coronavirus that has sickened thousands in China and tamped down demand in the world's largest importer of oil. Crude slid into a bear market on Monday, falling 20% from a recent peak in January, on worries about the virus's effect on the global economy in a world flooded with oil. U.S. crude rose Wednesday and Thursday as the Organization of the Petroleum Exporting Countries and its allies met to...

  • Oil Prices Swing as Investors Weigh Coronavirus Fallout

    Oil prices seesawed this week as investors tried to gauge the fallout from the coronavirus that has sickened thousands in China and tamped down demand in the world's largest importer of oil. Crude slid into a bear market on Monday, falling 20% from a recent peak hit in January, on worries about the coronavirus's effect on the global economy in a world flooded with oil. Prices then rose Wednesday amid unconfirmed reports that researchers at a Chinese university had found a...

  • Saudis Weigh Large Oil Cuts in Response to Coronavirus, Prices Resume Decline -- 2nd Update

    Oil prices slid into bear-market territory on Monday, highlighting investors' growing concern that China's deadly coronavirus will hurt the global economy, reducing demand for gasoline, diesel and jet fuel in an already well-supplied market. The declines capped an eventful day in markets. Chinese leader Xi Jinping delivered a speech Monday describing the outbreak as a major test of the country's system of governance and vowing consequences for officials who shirk...

  • Saudis Weigh Large Oil Cuts in Response to Coronavirus, Prices Resume Decline -- 3rd Update

    Saudi Arabia is pushing for a major short-term oil production cut as it seeks to respond to the impact of China's deadly coronavirus on crude demand, according to OPEC officials. The health crisis is impacting faraway oil-exporting nations, as reduced refining demand hits the prices they can charge for crude, and their revenues. Representatives of the Organization of the Petroleum Exporting Countries and its allies are set to meet Tuesday and Wednesday to debate possible...

  • Shell Slows Buybacks As Commodity Prices Weaken -- Energy Comment

    Royal Dutch Shell (RDS/A) said Thursday that it was cutting spending on share buybacks--a tool that major oil companies have deployed in recent years to improve their share price. The decision comes after sharp falls in oil and other commodity prices in recent months. Shell's shares hit a two-and-a-half-year low after the earnings release.

  • Emerging Markets Flash a Growth Warning Sign

    The fallout from the deadly coronavirus is battering emerging markets, a sign of skepticism that the world economy can easily bounce back from its worst year in a decade. After weeks of hoping that a trade detente would buoy the global economy, investors have retreated from wagers on commodities and emerging markets dependent on Chinese consumption. In the eight trading days through Wednesday, the industrial metal copper slid more than 10% and Brent crude, the global gauge of oil...

  • Oil Swings as Investors Grapple With Coronavirus Uncertainty

    Crude prices swung between gains and losses on Wednesday, highlighting investors' efforts to weigh the possible long-term effects of a deadly new coronavirus on global oil demand. U.S. crude futures edged down 0.3% to $53.33 a barrel, while Brent, the global gauge of prices, rose 0.5% to $59.81 a barrel. Crude futures have been under pressure this past week from fears that the virus-- which has sickened thousands in China and spread to other countries-- will dent long-term demand from...

Search News

Filter Results

Publication Date
Topic
Provider

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.