Oil's Worst-Ever Summer Signals Price Rout Nowhere Near Done
If crude’s slump back to a six-year low looks bad, it’s even worse when you reflect that summer is supposed to be peak season for oil.
August 14, 2015Oil Tumbles to Six-Year Low on Rising Crude Output, Yuan's Devaluation
Oil sank to a six-year low Aug. 13 as rising crude output and signs that China’s economy is weakening increased concern that a global surplus will worsen.
August 13, 2015Oil Rises From Five-Month Low
Oil rose from the lowest level in almost five months in New York as Chinese crude imports climbed to a record in July.
August 10, 2015US Crude Posts Biggest Monthly Fall Since 2008
U.S. crude posted its biggest monthly drop since the 2008 financial crisis on July 31 after a string of losses in July triggered by China's stock market slump and signs that top Middle East producers were pumping crude at record levels.
July 31, 2015Oil Market Embraces Lower-for-Longer Price View as Futures Sink
The global oil surplus increasingly looks like a problem that will take years rather than months to solve — and the market is pricing that in.
July 30, 2015Oil Price Falls Into Bear Market Territory
Brent crude oil futures on July 23 settled at their lowest price since April, and U.S. crude fell into bear market territory and ended below $49 a barrel for the first time since late March as persistent concerns about ample supply and shaky demand offset support from the dollar's weakness.
July 23, 2015Crude Falls Below $50 for First Time Since April on Glut Concerns
Crude slumped below $50 a barrel in New York for the first time in more than three months on speculation that Iranian shipments will climb, extending a global glut.
July 20, 2015Brent Crude Holds Losses as Iranian Supply Counters Drop in US Rigs
Brent crude held losses after a third weekly decline as investors weighed the prospect of increased Iranian supplies against a drop in U.S. drilling rigs.
July 20, 2015Oil Prices May Fall Further Before Supply Fades in 2016, IEA Says
Oil prices may fall further as the world remains “massively oversupplied,” before markets tighten in 2016 when output growth outside OPEC grinds to a halt, according to the International Energy Agency.
July 10, 2015BP Reaches $18.7 Billion Settlement Over Deadly 2010 Spill
HOUSTON — BP will pay up to $18.7 billion in penalties to the U.S. government and five states to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago in the largest corporate settlement in U.S. history.
July 2, 2015