Friday, July 3, 2020

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Trump says aims to top up U.S. emergency oil stockpile

WASHINGTON, April 20 (Reuters) - U.S. President Donald Trump reiterated on Monday during a press conference that his administration aims to top up the nation's emergency...

(UPDATE) Negative $40 oil reflects panic – and U.S. crude market economic reality

April 20 (Reuters) - Traders desperate to avoid owning oil fled the markets on Monday, sending crude futures into negative territory for the first time ever,...

Enbridge will not ration Mainline as coronavirus restrictions shred oil demand

TORONTO/WINNIPEG, Manitoba, April 20 (Reuters) - Pipeline operator Enbridge Inc said on Monday it would not ration capacity for May on North America's biggest oil pipeline network,...

Oil price crashes into negative territory for the first time in history amid pandemic

NEW YORK, April 20 (Reuters) - U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut,...

U.S. senators propose $500 billion rescue for state, local governments

WASHINGTON (Reuters) - A U.S. Senate Republican and a Democrat proposed a $500 billion rescue package for state and municipal governments on Monday, as...

(UPDATE) Oil falls on concerns over storage, weakening economies

LONDON, April 20 (Reuters) - Oil prices fell on Monday, with a U.S. crude futures contract hitting its lowest level since 1998, as concerns that U.S....

Crude oil held in sea storage hits new record at 160 mln bbls

LONDON, April 17 (Reuters) - Traders are storing an estimated record 160 million barrels of oil on ships - double the level from two weeks ago...

Saudi Arabia to sell 600,000 barrels of oil per day to U.S. in April

April 17 (Reuters) - Saudi Arabia is set to sell about 600,000 barrels of crude per day to the United States in April, which will be...

U.S. drillers slash most oil rigs in a week since Feb 2015

April 17 (Reuters) - Oil rigs in the United States saw their steepest cuts since February 2015 as crude prices more than halved since the start...

Canada offers C$2.5 bln in aid for hard-hit energy sector, plans to expand credit

OTTAWA, April 17 (Reuters) - Canada will invest around C$2.5 billion ($1.8 billion) in measures to help the hard-hit oil and gas industry and is working...

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Wall Street sees Exxon paring asset values on weakening demand

HOUSTON, July 2 (Reuters) - Exxon Mobil Corp assets are likely overvalued in light of weak oil-demand outlook, according to Wall Street analysts, and...

Oil falls below $43 on virus fears, still heads for weekly gain

LONDON, July 3 (Reuters) - Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand...

Refiner Phillips 66’s return-to-work policy stirs unease as virus flares

DENVER/HOUSTON, July 3 (Reuters) - About 20 employees of U.S. oil refiner Phillips 66 tested positive at its Texas headquarters for COVID-19 in recent...

U.S. oil & gas rig count hits record low for 9th week -Baker Hughes

July 2 (Reuters) - U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a ninth...