Energy News Results

  • U.S. oil rig count falls for first time in 13 weeks -Baker Hughes

    U.S. energy firms this week cut oil rigs for the first time in 13 weeks after crude prices fell for six weeks in a row from late October-early December. Oil prices, meanwhile, have recovered and traded at their highest since 2014 this week.

  • Oil slides on Friday, but climbs for 5th week on supply concerns

    Oil prices slid for a second day in a row on Friday, pressured by an unexpected rise in U.S. crude and fuel inventories while investors took profits after the benchmarks touched seven-year highs earlier in the week. However, both crude benchmarks rose for a fifth week in a row, gaining around 2% this week.

  • U.S. crude exports ramp up as global demand recovers

    U.S. crude exports are ramping up due to increasing demand from Asia and Europe and recovering U.S. production from the lows of the coronavirus pandemic. Surging worldwide demand, supply outages and international political tension have stoked worries around crude supplies, boosting oil prices to the highest levels in seven years, with some predicting crude could even reach $100 per barrel.

  • Oil slides on Friday, but climbs for 5th week on supply concerns

    Oil prices slid for a second day in a row on Friday, pressured by an unexpected rise in U.S. crude and fuel inventories while investors took profits after the benchmarks touched seven-year highs earlier in the week. However, both crude benchmarks rose for a fifth week in a row, gaining around 2% this week.

  • Shell to supply crude to Pemex's Texas refinery under long-term pact

    * Formal handover completed and new directors installed. * Mexico to receive up to 230,000 bpd of gasoline, fuels. By Adriana Barrera and Ana Isabel Martinez. Mexican state oil company Petroleos Mexicanos on Thursday signed a long-term crude supply contract with Royal Dutch Shell Plc (RDS/A) as part of its acquisition of the Deer Park refinery in Texas.

  • Shell to supply crude to Pemex's Texas refinery under long-term pact

    Mexican state oil company Petroleos Mexicanos on Thursday signed a long-term crude supply contract with Royal Dutch Shell Plc (RDS/A) as part of its acquisition of the Deer Park refinery in Texas. Pemex and Shell in May announced the transaction, which is worth almost $600 million and will make the Mexican firm the sole owner of the refinery near Houston.

  • Shell to supply crude to Pemex's Texas refinery under long-term pact

    * Formal handover completed and new directors installed. * Mexico to receive up to 230,000 bpd of gasoline, fuels. By Adriana Barrera and Ana Isabel Martinez. Mexican state oil company Petroleos Mexicanos on Thursday signed a long-term crude supply contract with Royal Dutch Shell Plc (RDS/A) as part of its acquisition of the Deer Park refinery in Texas.

  • Oil prices hover around 2014 highs, supported by supply concerns

    Oil steadied on Thursday, clawing back losses earlier in the session, as strong demand and short-term supply disruptions continue to support prices close to their highest levels since late 2014. Brent crude futures fell 17 cents, or 0.2%, to $88.27 a barrel, as of 0418 GMT, having dropped more than $1 earlier in the session.

  • Crude prices edge lower, though supply concerns still dominant

    Oil edged lower on Thursday, posting slim losses after several days of strength that pushed benchmarks to seven-year highs due to concerns about tight supply. Brent crude futures settled down 6 cents to $88.38 a barrel. U.S. West Texas Intermediate crude futures for February delivery lost 6 cents to $86.90 a barrel on the last day of the contract's life.

  • As inflation breaks records, $100 oil is also looming

    Already less transitory than forecast, central bankers' inflation headache may be about to become more acute as they face the prospect of $100-plus oil that lifts consumers' price expectations and intensifies simmering wage hike pressures. Brent crude futures, which soared 50% in 2021, are up a further 14% already in 2022 at seven-year highs of $89 a barrel.

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