Energy News Results

  • Oil drops more than 2%, approaches weekly loss on China virus fears

    * China virus threatens oil demand. * Brent set for 6% loss this week, U.S. crude slumps 7.5% * Drop in U.S. crude inventories supports market. * U.S. drillers add oil rigs for second week in a row - Baker Hughes. By Laila Kearney.

  • Brent logs worst weekly loss in a year as China virus fears swell

    Crude prices sank more than 2% on Friday and Brent logged its biggest weekly decline in more than a year as concerns that a coronavirus will spread farther in China, the world's second-largest oil consumer, curbing travel and oil demand.

  • Exclusive: Guyana opening search for oil firm to trade its crude - official

    Guyana's government next month plans to begin a search for an oil company or trading firm to market its share of the South American country's crude, the director of the Department of Energy, Mark Bynoe, said in an interview.

  • Deals of the day-Mergers and acquisitions

    The following bids, mergers, acquisitions. ** Global commodities trader Trafigura is in advanced talks to buy more than 10% of an Angolan general's stake in its fuel retail arm Puma Energy by the end of the year, sources familiar with the matter said.

  • Oil falls 3% as specter of China virus threatens fuel demand

    Oil prices fell 3% on Thursday on concern that the spread of a virus from China could lower fuel demand if it stunts economic growth, but losses were limited by a drawdown in U.S. crude inventories. Brent crude futures fell $1.70, or 2.7%, to $61.51 a barrel by 1:03 p.m. EST. U.S. West Texas Intermediate crude futures fell $1.74, or 3.1%, to $55.00 a barrel.

  • TABLE-UAE's Fujairah oil inventory data for week ended Jan 20

    Fujairah Oil Industry Zone on Wednesday published, via industry information service S&P Global Platts, the following weekly inventory data for oil products for the week ended Jan. 20.

  • Oil slides 2% as glut forecast, China virus overshadow Libya disruption

    Oil prices fell about 2% on Wednesday as a market surplus forecast by the International Energy Agency and demand worries amid the outbreak of a virus in China outweighed concern over disruptions to Libya's crude output. Brent crude was down $1.24, or 1.9%, at $63.35 a barrel by 1:49 p.m. ET.

  • Exclusive: Philadelphia refinery expected to be sold to real estate developer - sources

    The bankrupt Philadelphia Energy Solutions is expected to sell its fire-damaged refinery site to real estate developer Hilco Redevelopment Partners, three sources familiar with the situation said on Tuesday. The agreement between PES and Hilco, a Chicago-based developer, is expected to be announced later on Tuesday.

  • Oil prices slide as supply concerns fade

    * Libya NOC declares force majeure on two major oilfields. * Anti-government unrest in Iraq resumes. * Graphic on Libya export: By Jessica Jaganathan. Oil prices fell nearly 1% on Tuesday as investors expected Libya's oil production to eventually resume following a force majeure declared by the oil exporter on two major oilfields amid a military blockade.

  • Oil market shrugs off Libya crisis amid ample global supply

    Oil prices fell on Tuesday on expectations that a well-supplied global market, including supplies from growing record U.S. production, would be able to absorb disruptions that have cut Libya's crude production to a trickle. Brent futures fell 46 cents, or 0.7%, to $64.74 a barrel, by 12:45 p.m. EST.

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