energy Archive

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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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 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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Oil recoups some losses, but gains seen as short lived

Crude-oil prices recouped earlier losses in Asia trade Thursday, mainly thanks to bargain hunting, but the uptrend is likely short-lived as the latest data suggests a respite from low prices could still be a long way off. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December CLZ5, +0.75% traded at [&hellip

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Oil prices snap week-long fall on U.S. output decline, gasoline drawdown

Source photo Crude oil futures rose on Friday to snap a week-long decline as investors bet falling U.S. production would cut a global surplus, while the country’s gasoline and distillate inventories dropped more than expected. However, analysts cautioned the price recovery may not last, with more supply likely from Iran. Global benchmark Brent crude has [&hellip

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Oil prices up slightly, but investors keep an eye on oversupply

Crude oil prices rose slightly in Asia trade Wednesday, but lingering oversupply concerns mean traders are treading cautiously, despite a rise in China’s crude oil imports last month. On the New York Mercantile Exchange, light, sweet crude futures for delivery in November CLX5, -0.11% traded at $46.96 a barrel, up $0.34 in the Globex electronic [&hellip

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Oil slides on fears energy demand will soften

Oil futures fell Tuesday, as a slumping U.S. stock market fed concerns that the outlook for energy demand will continue to soften. The drop comes ahead of weekly data that are expected to show a second straight weekly decline in U.S. crude supplies and a day after prices posted strong gains. The October contract for [&hellip

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