Tuesday, June 22, 2021

Big Oil CEOs Predict Return of $100 Crude

By Kevin Crowley and Francois de Beaupuy (Bloomberg) — The bosses of some of the world’s biggest oil companies said crude prices are likely to keep rising because a lack of...

June 22, 2021
Total Views: 3842

Tuesday, April 20, 2021
vlcc tanker

Historic Oil Price Crash Marks One Year Anniversary at $63 a Barrel

By Andres Guerra Luz and Alex Longley (Bloomberg) — Oil fluctuated above $63 a barrel, exactly one year after U.S. benchmark crude futures plunged below zero, with traders extending its rally...

April 20, 2021
Total Views: 1498

Thursday, March 25, 2021
oil tanker loading

Tanker Owners Rejoice Then Oil Retreats After Suez Grounding Price Surge

By Sharon Cho (Bloomberg) Oil retreated as traders monitored efforts to dislodge a massive ship blocking the Suez Canal, after two wild days that saw prices whipsaw around 6% in both...

March 25, 2021
Total Views: 4525

Sunday, March 14, 2021

How a Hasty Move to Change the World’s Key Oil Price Unraveled

By Alex Longley (Bloomberg) — How do you measure the value of the world’s most important commodity? It’s a conundrum that brought uproar in the oil market over the past few...

March 14, 2021
Total Views: 5355

Thursday, February 25, 2021

Oil Benchmark Revamp Sees Surge in Trading of Opaque Swaps

By Alex Longley (Bloomberg) — A planned overhaul of how the world’s most important benchmark crude price is calculated has caused a surge in trading of swaps used to hedge North...

February 25, 2021
Total Views: 785

Wednesday, February 24, 2021

Oil Hits One-Year High With Market Eyeing Tight Global Supplies

By Andres Guerra Luz (Bloomberg) — Oil surged to the highest in more than a year as the market looks ahead toward an accelerating decline in global inventories and a comeback...

February 24, 2021
Total Views: 1167

Monday, February 15, 2021

Oil Rallies Past $60 as Winter Blast Hits Texas

By Sharon Cho and Alex Longley (Bloomberg) — Oil rallied to a 13-month high as freezing weather in Texas disrupted flows from America’s largest shale patch, exposing the fragility of global...

February 15, 2021
Total Views: 1397

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: 3085

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: 827

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: 1192

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: 26

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: 5

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: 35

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: 11

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: 34

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: 163

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: 62

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: 33

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: 42

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