Oil
As Joe Biden warns in his farewell address as president that “an oligarchy is taking shape in America”, a new report reveals that US fossil fuel billionaires’ wealth increased by 15% over the past nine months. Some of those wealthy figures will be at parties in DC celebrating Trump’s inauguration on Monday and expecting further […]
By Nicole Jao NEW YORK (Reuters) -Oil prices fell more than 1% on Wednesday as a stronger dollar and large builds in U.S. fuel inventories last week pressured prices, reversing earlier gains from the tightening supplies from Russia and other OPEC members. Brent crude was down 86 cents, or 1.12%, at $76.19 a barrel at […]
Crude oil prices moved higher today, after the release of production data from OPEC and Russia, showing both declined in December. An additional bullish factor for oil was a new employment survey from the United States, which showed layoffs were low and job openings were growing, suggesting a strong economy. At the time of writing, […]
China’s state oil major CNOOC and shipping line Cosco were added to a military blacklist compiled by the United States for ties between Chinese businesses and the People’s Liberation Army. The black list, Bloomberg noted in a report on the news, classifies companies with ties to the Chinese army as military companies, and while such […]
Check out what’s clicking on FoxBusiness.com. The U.S. Chamber of Commerce and a top oil and gas industry trade group have filed a lawsuit against Vermont over its new law requiring that fossil fuel companies pay for damage the state attributes to climate change. The federal lawsuit, which was filed Monday, urges a state court […]
(Bloomberg) — Oil steadied in the first session of the new year as an industry report signaled US crude stockpiles continued to shrink. Most Read from Bloomberg Brent traded below $75 a barrel after giving up an earlier gain, and West Texas Intermediate was near $72. A report from the American Petroleum Institute showed inventories […]
NEW YORK — U.S. oil production rose 260,000 barrels per day month-over-month to a record 13.46 million bpd in October as demand surged to the highest levels since the pandemic, data from the U.S. Energy Information Administration showed on Tuesday. U.S. oil output has grown rapidly this year as drilling operations became more efficient, even […]
CNN — Volunteers helping to clean up the oil spill on Russia’s Black Sea coast are appealing to Russian President Vladimir Putin for more assistance, as they grapple with environmental havoc across more than 35 miles of coastline. Two Russian tankers carrying thousands of tons of fuel were badly damaged in stormy weather near the […]
Crude oil prices were heading towards a weekly gain earlier today following an update from the World Bank on the growth prospects of the Chinese economy next year. Brent crude was trading at $73.18 per barrel at the time of writing, with West Texas Intermediate at $69.58 per barrel, after the World Bank revised upwards […]
The US president-elect, Donald Trump, has warned the EU that it will face trade tariffs on its exports to the US unless its member states buy more American oil and gas. Trump reignited fears of a looming trade war between the US and the EU in his first public statement regarding trade since he was […]