Oil Makes Modest Moves Lower
Oil futures traded slightly lower in choppy trade Thursday, pressured by lowered forecasts for global crude demand in 2020, but losses were limited by tightening supply in the U.S.
Natural Gas Remains Higher After Storage Data
Natural gas prices retained their earlier gains after the Energy Information Agency reported a weekly storage injection that was only slightly-above expectations.
Coronavirus Projected to Sap More Oil Demand Than Expected
High coronavirus case numbers in several major economies will blunt the recovery of an oil market already beleaguered by low demand, the International Energy Agency said.
RWE Eyes Upper End of Guidance Range
RWE posted an 18% rise in first half adjusted profit to EUR1.81 billion and said its earnings for the year should hit the upper end of forecast ranges.
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Oil Demand Faces Bigger Coronavirus Shock Than Previously Thought
The coronavirus pandemic will have an even bigger impact on the global economy and its demand for oil than previously expected, OPEC said.
Tankers Waiting for Weeks off Congested China Ports, Oil Facilities
Crude-laden tankers have been lining up for weeks at a time off China's coast as ports struggle to handle the millions of barrels of inbound oil that have swamped the country's overfilled storage sites.
U.S. Oil Refiners Accelerate Shift to Renewables in Downturn
Phillips 66 plans to convert a San Francisco-area oil refinery into a biofuels plant, the oil industry's latest move amid depressed fuel consumption and growing U.S. regulatory pressures.
U.S. Oil Inventories Fall for 3rd Consecutive Week
U.S. inventories of crude oil fell more than expected last week, while fuel stockpiles also declined, according to data released Wednesday by the Energy Information Administration.
Hermitage Offshore Files for Bankruptcy Protection in U.S.
Bermuda-based Hermitage Offshore Services filed for bankruptcy protection, its business of providing support for oil-drilling operations battered by the coronavirus pandemic.
