NEW YORK Oil prices tumbled 3 percent on Wednesday after a record weekly build in U.S. crude inventories stoked investor worries about a global supply glut, days after analysts estimated higher monthly OPEC crude output.
NEW YORK Oil prices settled lower on Tuesday, then tumbled again after hours following a trade group's report of a U.S. crude inventory build nine times larger than forecast.
NEW YORK Potential delays in pipeline construction have prompted hedge funds to pile into U.S. natural gas futures for 2017, creating an anomaly in prices.
Money managers have cut their bullish holdings in U.S. crude the first time in five weeks, data showed on Friday, after back-and-forth talk by OPEC members raised doubts on the producer group's ability to trim a global oil glut.
NEW YORK Oil prices settled up on Tuesday on expectations of OPEC output curbs, then extended gains in post-settlement trade as an industry group's data showed an unexpected draw in U.S. crude inventories last week.
NEW YORK Oil prices settled up on Tuesday on expectations of OPEC output curbs, then extended gains in post-settlement trade as an industry group's data showed an unexpected draw in U.S. crude inventories last week.
NEW YORK Energy hedge fund BBL Commodities expects a further rally in U.S. distillate prices, including diesel and heating oil, after successfully betting on those prices in September, it said in an investor letter.
NEW YORK Oil prices settled up on Thursday after a U.S. government report showing hefty draws in diesel and gasoline offset the first crude inventory build in six weeks.
After five straight weeks of falls in U.S. crude stockpiles confounding expectations, oil market analysts calling for a rise in storage this week are banking on refineries finally cutting output in the way they typically do at this time of year.
NEW YORK Oil prices fell on Wednesday after OPEC reported another monthly hike in output and extended losses in post-settlement trade as industry data suggested the first U.S. crude inventory build in six weeks.
U.S. President Donald Trump told the United Nations General Assembly on Tuesday that China must be held accountable for having "unleashed" COVID-19 on the world, prompting Beijing to accuse him of "lies" and abusing the U.N. platform to provoke confrontation.