Oil boosted as worries ease over coronavirus hit to crude demand

Oil futures rose Wednesday, boosted by hopes a slowdown in the number of new, confirmed cases of COVID-19 in China would translate into a smaller-than-feared hit to crude demand. West Texas Intermediate crude for March delivery CLH20, +2.20% on the New York Mercantile Exchange rose 78 cents, or 1.6%, to $50.72 a barrel, while April Brent BRNJ20, +2.57%, the global benchmark, […]

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FBI says it presumes Pensacola base shooting was act of terrorism

PENSACOLA, Fla. — The Saudi gunman who killed three people at the Pensacola naval base had apparently gone on Twitter shortly before the shooting to blast U.S. support of Israel and accuse America of being anti-Muslim, a U.S. official said Sunday as the FBI confirmed it is operating on the assumption the attack was an act of terrorism. Investigators are […]

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Repsol says it will be carbon neutral by 2050, becoming the first oil major to make a pledge of this kind

Spain-based Repsol said on Monday that it will be carbon neutral by 2050. The company said changes to its oil operations — including shifting the upstream focus to value creation rather than volume, and integrating renewable energy into its refining operations — as well as an increase in its alternative energy portfolio will help the company reach zero emissions. "We […]

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Oil attempts to bounce higher on hope of U.S.-China trade progress

Oil futures rose cautiously higher Tuesday as investors awaited insights on progress in trade talks between China and the U.S. which may affect economic growth and oil demand. President Donald Trump will speak at the Economic Club of New York at noon Eastern time, where he could provide the latest update on Sino-American trade talks amid renewed concerns that the […]

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Oil futures fall 1% ahead of EIA inventory report

Oil futures headed lower on Wednesday as investors awaited a closely followed weekly report on U.S. inventories and a Tuesday reading on supplies showed a lower-than-expected stockpiles for crude. December WTI crude CLZ19, -0.97%, the new front-month contract, shed 53 cents, or 1%, at $53.95 a barrel on the New York Mercantile Exchange, after both the November, which expired on […]

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