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3 mins read
Oil jumps to highest since early September on latest sign of vaccine progress
AstraZeneca said Monday its vaccine was 70% effective at protecting against COVID-19. The shot is t…
Ben Winck
2 mins read
Oil drops 4% after resumed production at Libyan field threatens market oversupply
New inventory from Libya's restarted facilities is set to enter a market facing harsh demand pressu…
Ben Winck
2 mins read
US oil hits highest since OPEC began price war against shale producers
The oil market deficit will only get wider due to low stockpiles, an incoming cold winter, and surg…
Isabelle Lee
1 min read
Oil plunges 12%, continues deep slump as dismal outlooks for global demand persist
Oil fell further Friday after China's economy suffered its first contraction in 28 years as gross d…
Carmen Reinicke
2 mins read
Oil rises after Saudi Aramco sees Asia demand nearing full rebound
Aramco CEO Amin Nasser said Sunday he sees demand in Asia retracing losses and nearing pre-pandemic…
Ben Winck
2 mins read
Oil plunges after Fed and OPEC+ sound alarms on long-term demand weakness
The slump knocks oil futures down from a five-month high and keeps the commodity stuck within a nar…
Ben Winck
2 mins read
Oil plunges 9% as major producers slash prices on demand weakness
West Texas Intermediate crude and Brent crude broke through the key support of $40 per barrel at th…
Ben Winck
2 mins read
Oil soars to highest since March as investors boost optimism for economic recovery
The commodity market's early gains arrived after the European Union agreed on a 750 billion euro ($…
Ben Winck
2 mins read
Oil prices tumble 6% amid fading hopes for a smooth improvement in global demand
Vopak, the world's largest independent oil storage company, warned the market's demand recovery wil…
Ben Winck
2 mins read
Oil prices jump to 7-year highs after OPEC+ agrees to stick to gradual production hikes
OPEC+ ignored growing calls for opening the taps at a faster rate to bring down oil prices after th…
Isabelle Lee
2 mins read
Oil spikes 9% as market rebound puts negative prices in rear view
While some analysts are cheering the rebound, others see the move as a "dead-cat bounce" before ano…
Ben Winck
2 mins read
Goldman commodity traders raked in $1 billion after positioning for April's oil-market collapse
The year-to-date revenues are the traders' best in a decade and mark a return to form for Goldman's…
Ben Winck
2 mins read
Oil prices are going to $90 per barrel in the 2nd half of this year on the back of a 'triple deficit' for the commodity, Morgan Stanley says
Low inventories, low spare capacity, and low investment will continue to drive oil prices higher, M…
Isabelle Lee
2 mins read
Mexico scores $2.5 billion windfall from oil hedges, report says
Mexico's annual oil price hedge has consistently protected the country from steep declines in the p…
Matthew Fox
1 min read
Oil prices have rallied after turning negative for the first time ever. Here's the timeline for the oil-price war and April plunge.
The world's most-traded commodity is hot off several historic price moves and soaring back to its h…
Ben Winck
2 mins read
Oil surges to 7-year high above $90 per barrel as Russia-Ukraine tensions rise
JPMorgan economists last week said oil could soar to $150 a barrel during the first quarter of 2022…
Isabelle Lee
2 mins read
US stocks closed mixed with tech stocks dragged by rising bond yields
Bond yields continued to rise with the 10-year Treasury note rising slightly to 1.672%, well above …
Isabelle Lee
2 mins read
A key oil price indicator turned bearish for the first time in weeks as watchdog signals oversupply possible
US oil prices slipped 3% to settle at $78.36 per barrel on Wednesday, the lowest finish since Octob…
Isabelle Lee
2 mins read
US stocks trade mixed as traders weigh earnings from major retailers
Walmart and Home Depot were among the major retailers to report quarterly earnings on Tuesday. Oil …
Ben Winck
2 mins read
Dow gains 300 points as oil rallies and earnings overshadow dismal jobless-claim data
Roughly 3.2 million Americans filed for unemployment benefits in the week ended May 2, but stocks s…