Energy News Results

  • Crude Prices Fall on Coronavirus Fears -- Update

    Crude prices fell to seven-week lows on Wednesday, weighed down by concerns that a deadly strain of coronavirus that originated in China could dent demand for oil and jet fuel. U.S. crude futures fell 2.8% to $56.74 a barrel, while Brent, the global gauge of prices, slid 2.1% to $63.21 a barrel. The pneumonia-causing virus has spread across China and, as of Tuesday, into the U.S., sparking a flurry of travel cancellations and hitting shares of airline operators.

  • Crude Prices Fall on Coronavirus Fears

    Crude prices fell Wednesday, weighed down by concerns that a deadly strain of coronavirus that originated in China could dent demand for oil and jet fuel. U.S. crude futures fell 2.6% to $56.87 a barrel, while Brent, the global gauge of prices, fell 2.2% to $63.17 a barrel in morning trading. The pneumonia-causing virus has spread across China and, as of Tuesday, into the U.S., sparking a flurry of travel cancellations and hitting shares of airline operators.

  • South32 Reports Mixed 2Q Performance, Manganese Output Falls

    SYDNEY--South 32 Ltd. reported a mixed production performance for the major commodities that it digs up at operations around the world in the December quarter. South32 (SHTLF) said it reacted to lower manganese prices by cutting its use of higher-cost trucking and completing an extended maintenance shutdown at underground operations in South Africa. The Perth-based company also reduced activity at its thermal-coal operations in South Africa due to weak market conditions.

  • U.S. Crude Oil Inventories Fall, Fuel Supplies Surge

    U.S. inventories of crude oil declined last week, but stockpiles of gasoline and other fuels rose sharply, according to data released Wednesday by the Energy Information Administration. Benchmark U.S. oil prices, which were lower before the report was released, extended those declines afterward. The Nymex crude contract for February delivery was recently 1.1% lower at $57.58 a barrel.

  • Unwind of Bullish Oil Bets Could Limit Crude-Price Gains -- Update

    A pullback in bullish oil bets could tamp down crude prices with tensions in the Middle East subsiding, a rapid shift after the U.S.-ordered killing of a top Iranian military leader had some traders positioning for further gains earlier this month. U.S. crude-oil futures fell 1.6% to $58.08 a barrel on the New York Mercantile Exchange Monday, logging a fifth consecutive decline. Prices hit an eight-month high Jan. 6 with some analysts projecting supply shortages after the death...

  • Unwind of Bullish Oil Bets Could Limit Crude-Price Gains

    A pullback in bullish oil bets could tamp down crude prices with tensions in the Middle East subsiding, a rapid shift after the U.S.-ordered killing of a top Iranian military leader had some traders positioning for further gains earlier this month. U.S. crude-oil futures fell 1% to $58.46 a barrel on the New York Mercantile Exchange Monday, heading for a fifth consecutive decline. Prices hit an eight-month high Jan. 6 with some analysts projecting supply shortages after the death...

  • Oil Logs Worst Week Since July as Iran Tensions Ease

    Oil prices finished their largest weekly drop in nearly six months Friday despite recent tensions between the U.S. and Iran, underscoring bets that geopolitics in the Middle East won't disrupt the world's crude supplies and threaten the world economy. U.S. crude had risen to its highest level since early May on Monday, with some analysts worried that retaliation for a U.S.-ordered strike that killed a top Iranian military leader could threaten shipments near the Strait of...

  • Oil Heads for Worst Week Since July as Iran Tensions Ease

    Oil prices inched lower Friday, putting crude on track for its largest weekly drop since mid-July with traders anticipating plentiful supply moving forward. U.S. crude fell 0.8% to $59.17 a barrel on the New York Mercantile Exchange Friday, heading for a roughly 6% weekly slide following comments from President Trump and Iran that seemed to ease tensions between the two sides. Earlier this month, a U.S.-ordered strike that killed a top Iranian military leader had stoked worries...

  • Crude Edges Lower as U.S.-Iran Tensions Appear to Ease -- Update

    U.S. crude futures edged down on Thursday to their lowest level in four weeks after signs of cooling tensions between the U.S. and Iran. Crude futures pared some of their earlier declines on Thursday after U.S. officials said they believed Iran had shot down a Ukrainian commercial aircraft earlier this week, killing all 176 passengers and crew members on board. West Texas Intermediate futures closed down less than 0.1% to $59.56 a barrel, while Brent, the global gauge of prices,...

  • Crude Edges Lower as U.S.-Iran Tensions Appear to Ease

    Crude futures continued to slide on Thursday after signs of cooling tensions between the U.S. and Iran. U.S. crude futures edged down 0.3% to $59.43 a barrel, while Brent, the global gauge of prices, fell 0.2% to$ 65.32. The moves came a day after prices dropped nearly 5% after remarks by President Trump helped ease investors' concerns of a broader conflict in the region that could disrupt global oil supply.

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