ENERGY Archive

U.S. oil prices struggle to break away from two-month low

U.S. crude oil prices held near more than two-month lows in early Thursday trading, after a sharp slide on concerns the market will take much longer than many anticipated to rebalance as supplies far outstrip demand. Benchmark U.S. crude futures were at $43.15 a barrel at 0033 GMT (0833 EDT), up 22 cents on Wednesday [&hellip

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Oil prices drop after U.S. inventories rise

Crude oil prices fell on Wednesday after industry data showed an increase in U.S. stockpiles, and as analysts said that U.S. output had been surprisingly resilient in the face of lower prices. Benchmark U.S. crude futures slipped to a two-week low at $43.55 a barrel in early trading before trimming losses to trade down 59 [&hellip

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Oil will not reach $80 per barrel until 2020

Oil prices are over 50% lower than they were last summer – and it’s going to stay that way until the end of the decade. Fatih Birol, the executive director of the International Energy Agency told the Financial Times that a perfect storm will keep prices low until 2020 – low demand and bountiful supply. [&hellip

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Oil prices rise, but China trade data casts a shadow

Source photo Oil prices edged up marginally in early Asia trade Monday as data indicate China’s appetite for crude oil remains strong, but the sharp drop in overall imports is fuelling worries that slowing demand by the world’s second-biggest economy is unlikely to reverse anytime soon. On Sunday, China’s General Administration of Customs said in [&hellip

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Oil prices rise ahead of U.S. jobs, oil-rig count

Crude oil prices recouped some losses in Asia trade on Friday but will likely bob in a tight range as the market waits to take cues from the U.S. labor data and oil-rig count due later in the day. Market sentiment went deeper into bearish mode overnight in the U.S. on oversupply concerns after reports [&hellip

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U.S. stockpile climb keeps a lid on crude-oil gains

Source photo Crude prices rebounded slightly in Asia trade Thursday but a wider-than-expected U.S. crude stockpile buildup amid slowing global demand means prices will likely hover in a narrow band. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December CLZ5, +0.15% traded at $46.33 a barrel, up $0.01 in the [&hellip

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Keystone XL in limbo as pipeline company asks U.S. to halt review

The company behind the Keystone XL pipeline on Monday asked to suspend its U.S. permit application, throwing the politically fraught project into an indefinite state of limbo, beyond the 2016 U.S. elections. Calgary, Alberta-based TransCanada Corp. TRP, +0.36% sent a letter to the State Department, which reviews cross-border pipelines, to suspend its application while the [&hellip

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Oil prices wait to see if global supply will keep ballooning

Source photo Crude-oil prices inched up slightly on a technical rebound in Tuesday Asia trade but concerns of ballooning global supply will likely keep gains limited. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December CLZ5, -0.11% traded at $46.24 a barrel, up $0.10 in the Globex electronic session. December [&hellip

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Oil prices sluggish after China manufacturing data

Crude-oil prices dropped in early Asia trade on Monday as lackluster Chinese factory activity data widened fears that demand from the world’s second-largest economy is likely to stay low. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December CLZ5, -0.84% traded at $46.39 a barrel, down $0.20 in the Globex [&hellip

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Crude oil falls after U.S. growth figures disappoint

Crude futures dropped in early Asian trading on Friday after the release of a report showing that U.S. economic growth had slowed sharply, reinforcing concerns about sluggish demand in a world awash with oil. U.S. economic growth braked sharply in the third quarter as businesses cut back on restocking warehouses to work off an inventory [&hellip

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