Friday, January 22, 2021
offshore rig

Goldman Sachs Says Biden’s First Steps Are Bullish for Oil

By Andres Guerra Luz and Saket Sundria (Bloomberg) — Initial steps taken by U.S. President Joe Biden’s administration may help support the oil market this year and next, according to Goldman...

January 22, 2021
Total Views: 2181

Friday, January 8, 2021
vlcc tanker

Oil Has Best Week in Four Months With Saudi Cut Buoying Prices

By Andres Guerra Luz (Bloomberg) — Oil posted the biggest weekly gain since late September as Saudi Arabia’s plan to slice output spurred a surge in physical crude buying. Futures in...

January 8, 2021
Total Views: 812

Tuesday, January 5, 2021
oil tanker loading

Oil Tops $50 for First Time Since February

By Andres Guerra Luz (Bloomberg) — Oil surpassed $50 a barrel as Saudi Arabia pledged to voluntarily cut output by an extra 1 million barrels a day from next month, while most of the...

January 5, 2021
Total Views: 1130

Tuesday, November 3, 2020
Maritime News

OPEC Boosts Output Despite COVID Sending Oil Crashing

By Grant Smith and Julian Lee (Bloomberg) OPEC’s effort to shore up world oil markets during the pandemic is facing a new threat — from the group’s own rising production....

November 3, 2020
Total Views: 23

Tuesday, April 28, 2020
oil storage tankers
Maritime News

Oil Slides After ETFs Move Into Later-Dated Contracts

By Mike Jeffers (Bloomberg) — Oil fell after the biggest oil ETF said it would sell out of its June WTI futures position as physical oil storage levels continue to balloon....

April 28, 2020
Total Views: 3

Tuesday, April 21, 2020
Maritime News

Oil Meltdown Widens With June Plunging Below $10 a Barrel

By Olivia Raimonde (Bloomberg) — Oil’s meltdown spread in to the June contract as the price plummeted $10 in New York. West Texas Intermediate plunged below zero on Monday for the...

April 21, 2020
Total Views: 19

Monday, April 20, 2020
crude oil Pipeline
Maritime News

Energy Equities Hang On Despite Negative Oil Price, Tankers Surge

By Michael Bellusci (Bloomberg) — In a historic Monday for crude prices, energy-exposed equities didn’t quite crater as some may have envisioned. The price on the futures contract for West Texas...

April 20, 2020
Total Views: 6

Maritime News

Spot U.S Oil Futures Crash Below Zero. Here’s What the Experts are Saying

NEW YORK, April 20 (Reuters) – Energy traders fled from the expiring May U.S. oil futures contract in a frenzy on Monday, sending the contract deep into negative territory for...

April 20, 2020
Total Views: 8

Monday, March 30, 2020
vlcc tanker
Maritime News

Tanker Rates Double as Oil Contango Spreads

By Roslan Khasawneh SINGAPORE, March 30 (Reuters) – Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships...

March 30, 2020
Total Views: 69

Thursday, March 19, 2020
tanker aerial
Maritime News

Tankers Drop Anchor as Traders See Profit in Price Rout

By Alex Longley (Bloomberg) — Oil tankers starting to drop anchor as traders start deploying the vessels to keep barrels at sea in the wake of the price plunge. Between five...

March 19, 2020
Total Views: 15

Wednesday, March 18, 2020
oil tanker
Maritime News

Oil’s 24% Plunge in a Day Signals No End in Sight for Meltdown

By Alex Longley, Javier Blas and Jackie Davalos (Bloomberg) — Oil is ensnared in such a crisis that Wednesday’s 24% plunge in New York wasn’t even its worst day this month....

March 18, 2020
Total Views: 9

Monday, March 9, 2020
tanker loading
Maritime News

Oil in Grips of Chaos After Price War Triggers Historic Crash

By James Thornhill (Bloomberg) — Oil clawed back some of its biggest drop in a generation as a battle for market share between Saudi Arabia and Russia threatens to boost supply...

March 9, 2020
Total Views: 12

Tuesday, September 17, 2019
saudi oil attack Abqaiq
Maritime News

Oil Trims Losses on Conflicting Signals About Saudi Recovery

By David Marino and Sheela Tobben (Bloomberg) — Oil pared an earlier decline on contradicting reports about when Saudi Arabia will restore production lost in unprecedented attacks. A Financial Times...

September 17, 2019
Total Views: 3

Monday, August 5, 2019
offshore rig
Offshore News

Oil Falls on Rising Trade War Tensions

By Kiran Dhillon (Bloomberg) –The international oil benchmark closed below $60 dollars a barrel for the first time in almost two months as worsening U.S.-China trade relations intensified fears about...

August 5, 2019
Total Views: 1

Friday, July 19, 2019
Maritime Security Incidents

Oil Jumps as Tanker Seizure Escalates Tensions With Iran

By Harkiran Dhillon (Bloomberg) Oil climbed after Iran’s Revolutionary Guard Corp said it seized a British-flagged tanker in the Strait of Hormuz, raising stakes in the critical oil chokepoint. London-traded...

July 19, 2019
Total Views: 7

Thursday, February 21, 2019
Lou Vest, tanker, oneeighteen

Twelve Empty Supertankers Reveal The Truth About Today’s Oil Market

by Firat Kayakiran (Bloomberg) They are slowly plowing their way across thousands of miles of ocean toward America’s Gulf of Mexico coastline. As they do, twelve empty supertankers are also...

February 21, 2019
Total Views: 41

Friday, April 20, 2018
oil tanker

Trump Tweets on ‘Artificially’ High Oil Prices: “Oil all over the place, including the fully loaded ships at sea”

By Susan Heavey and Rania El Gamal WASHINGTON/JEDDAH, Saudi Arabia, April 20 (Reuters) – U.S. President Donald Trump accused OPEC on Friday of “artificially” boosting oil prices, drawing rebukes from...

April 20, 2018
Total Views: 1

Tuesday, September 5, 2017
Offshore News

Oil Markets Dip As Irma Approaches United States

Henning Gloystein (Reuters) – Oil prices dipped on Wednesday as crude demand remained subdued on the back of refinery closures following Hurricane Harvey which hit the U.S. Gulf coast 10...

September 5, 2017
Total Views: 0

Monday, March 20, 2017
offshore oil rig Statoil

Oil Drops as U.S. Drilling Growth Threatens to Counter OPEC Cuts

By Mark Shenk (Bloomberg) — Oil fell as a U.S. drilling revival undermines the potential for OPEC output curbs to rebalance the market. Futures dropped as much as 1.9 percent in...

March 20, 2017
Total Views: 0

Thursday, August 11, 2016
troll a
Maritime News

IEA: Oil Markets to Tighten Slowly After Months of Oversupply

By Dmitry Zhdannikov MOSCOW, Aug 11 (Reuters) – Oil markets will begin to tighten in the second half of 2016 but at a slow pace as global demand growth declines...

August 11, 2016
Total Views: 0