Monday, July 6, 2020

Reuters

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Oil rises as OPEC looks to deepen, extend supply cuts

NEW YORK, May 12 (Reuters) - Oil prices rose on Tuesday after OPEC's de facto leader, Saudi Arabia, said it would increase supply curbs in June,...

Another day, another 20% plunge in WTI oil

LONDON, April 28 (Reuters) - Another big fall in oil prices dragged hordes of petro currencies under on Tuesday but even an HSBC warning of mounting...

Mexico’s Pemex says to prioritize lower-cost production

MEXICO CITY, April 27 (Reuters) - Mexico's state oil firm Pemex on Monday detailed measures aimed at mitigating the effects of a steep drop in oil...

Diamond Offshore sues Australia’s Beach Energy for terminating drilling contract

April 27 (Reuters) - Bankrupt Diamond Offshore Drilling Inc has sued Australian oil and gas producer Beach Energy Ltd for abruptly terminating a $65 million drilling contract. Beach...

Venezuela’s gasoline goes from world’s cheapest to steepest as fuel shortages bite

PUERTO ORDAZ/MARACAIBO, Venezuela, April 26 (Reuters) - Venezuelans reported paying above $2 per liter ($7.57 per gallon) for gasoline last week amid fuel shortages, one of...

When oil became waste: a week of turmoil for crude, and more pain to come

April 26 (Reuters) - The magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S....

Losses on Bank of China crude oil investment product could hit $1.3 bln

SHANGHAI, April 26 (Reuters) - Total losses from a structured crude oil product marketed to retail investors by the Bank of China could be more than...

Extreme volatility raises questions over WTI

LONDON, April 24 (Reuters) - Price volatility is the lifeblood of commodity futures exchanges. But the amount of volatility has to be just right. Too little and...

How the U.S. could use taxpayer dollars to save oil and energy companies

WASHINGTON, April 24 (Reuters) - The U.S. federal government is looking at "a whole bunch of alternatives" to support oil and other energy companies, Treasury Secretary...

Oil rises, but ends wild week lower as coronavirus slashes fuel demand

NEW YORK, April 24 (Reuters) - Oil prices rose on Friday, bringing an end to another week of losses that featured the U.S. contract plunging to...

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Buffett’s Berkshire to buy Dominion Energy gas assets for $4 bln

July 5 (Reuters) - Warren Buffett's Berkshire Hathaway Inc said on Sunday it agreed to buy Dominion Energy Inc's natural gas transmission and storage...

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...