WTI below $73 as OPEC+ to increase supply

WTI below  as OPEC+ to increase supply

Platform Ellen and Elly, offshore oil and gas platforms operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023.  Tim Rue | Bloomberg | Getty Images U.S. crude oil fell nearly 2% on Tuesday, extending a recent losing streak to erase most of its gains for … Read more

Oil prices little changed after OPEC+ extends output cuts

Oil prices little changed after OPEC+ extends output cuts

The OPEC logo on the building of the Organization of the Petroleum Exporting Countries. Thomas Coex | Afp | Getty Images Crude oil futures were little changed on Monday as investors tried to parse the impact OPEC’s weekend decision on production policy will have on the market. OPEC+ agreed to extend 3.6 million barrels per … Read more

WTI monthly loss ahead of OPEC+ meeting

WTI monthly loss ahead of OPEC+ meeting

An offshore oil platform is seen at sunset near Huntington Beach, California, on Feb. 9, 2024. David Mcnew | Getty Images U.S. crude oil was on pace Friday for its worst month of the year, ahead of an OPEC+ meeting this weekend during which the cartel will review its production levels. U.S. oil is down … Read more

Exxon trouncing Salesforce since software stock replaced oil giant in the Dow four years ago

Exxon trouncing Salesforce since software stock replaced oil giant in the Dow four years ago

An Exxon gas station sign is seen on October 06, 2023 in the Brooklyn borough of New York City. Michael M. Santiago | Getty Images Four years ago, Exxon Mobil’s reign as the longest serving component in the Dow Jones Industrial Average came to an abrupt end, when the oil major was replaced by Salesforce … Read more

U.S. crude oil falls 3.2% in May, on pace for worst month of the year

U.S. crude oil falls 3.2% in May, on pace for worst month of the year

An oil pumpjack is pictured in the Permian Basin in the Loco Hills region, New Mexico, on April 6, 2023. Liz Hampton | Reuters U.S. crude oil was little changed Thursday but is on pace for its worst month of the year and a second consecutive monthly loss. U.S. crude oil is down 3.2% in … Read more

WTI rises ahead of OPEC+ production meeting

WTI rises ahead of OPEC+ production meeting

The sun sets behind a pumpjack during a gusty night in Fort Stockton, Texas, March 24, 2024. Brandon Bell | Getty Images U.S. crude oil gained more than 1% on Tuesday after booking a loss last week as the market focuses on an upcoming key OPEC+ meeting. OPEC+ will hold a virtual meeting on Sunday … Read more

Biden gasoline sale won’t impact pump prices

Biden gasoline sale won’t impact pump prices

Drivers sit in traffic on southbound Interstate 5 during the afternoon commute heading into downtown San Diego on March 12, 2024 in San Diego, California. Kevin Carter | Getty Images The Biden administration’s move to sell 1 million barrels of gasoline from a reserve in the Northeast is unlikely to have a substantial effect on … Read more

Oil prices hit three-month lows, head for weekly loss

Oil prices hit three-month lows, head for weekly loss

A Shell gas station in Austin, Texas, on May 3, 2024. Brandon Bell | Getty Images Crude oil futures fell to three-month lows on Friday and are heading to a weekly loss as the summer driving season gets underway with the Memorial Day holiday. U.S. crude oil hit an intraday low of $76.15, the lowest … Read more

WTI, Brent rise after three-day decline

WTI, Brent rise after three-day decline

A pumpjack is shown outside the Midland-Odessa area in the Permian basin in Texas, July 17, 2018. Liz Hampton | Reuters Crude oil futures bounced back Thursday after a three-day decline but are still on pace for a weekly loss. U.S. crude oil is down 2.4% for the week while Brent, the global benchmark, has … Read more

WTI, Brent fall for third day

WTI, Brent fall for third day

An oil pumpjack is pictured in the Permian Basin in the Loco Hills regions, New Mexico, on April 6, 2023. Liz Hampton | Reuters Crude oil futures fell for a third session Wednesday, extending this week’s losing streak as prices soften ahead of a crucial OPEC meeting in June. U.S. crude oil and global benchmark … Read more