Oil & Gas

(Bloomberg) — Oil posted a fourth straight weekly gain as signs of a global demand recovery and supply discipline among producers encouraged investors. Futures in New York rose 1% this week. Strong U.S. demand growth is being passed on to Europe and emerging markets, where India is also starting to show improvements, according to Goldman

(Bloomberg) — Oil slumped the most in a month as a rising dollar pushed financial investors, who had piled into commodities to guard against inflation, toward the exits for other sectors. Futures in New York fell 1.5% on Thursday. A strengthening U.S. dollar reduced the appeal of commodities priced in the currency a day after

(Bloomberg) — Oil was virtually unchanged as gains driven by diminishing crude inventories were tugged lower after Federal Reserve officials suggested they expect two interest rate increases by the end of 2023. Futures in New York rose three cents on Wednesday. Equities fell and the dollar surged, reducing the appeal of commodities priced in the

(Bloomberg) — Oil climbed as a chorus of prominent traders in the crude market said prices will continue to rise after a nearly 50% rally so far this year. Futures in New York advanced 1.8% on Tuesday to the highest level since October 2018. At the FT Commodities Global summit, Glencore Plc and Vitol Group

Technicians make repairs to bitcoin mining machines at a mining facility operated by Bitmain in Ordos, Inner Mongolia, China, on Friday, Aug. 11, 2017. Qilai Shen | Bloomberg | Getty Images China has long been home to more than half the world’s bitcoin miners, but now, Beijing wants them out ASAP.  In May, the government

(Bloomberg) — Oil closed little changed amid broader market declines and as an extension of virus restrictions in the U.K. tempered optimism around a robust summer demand recovery in Western countries. Futures in New York ended the session less than 1% lower on Monday, erasing an earlier rally. British Prime Minister Boris Johnson is preparing

Last week, Rigzone’s downstream readers showed particular interest in articles about growth initiatives by a pair natural gas pipeline players – new construction in one case and an acquisition in another. Read on to find out which downstream-related articles garnered the most pageviews on Rigzone last week. $540MM Louisiana Pipeline Project Clears Hurdle Having won

Baker Hughes Co. (NYSE: BKR) on Friday reported the total number of rotary drilling rigs operating in the United States hit 461 this week – a net gain of five rigs for the period. The most recent U.S. rig count reflects a six-unit increase in oil rigs (to 365), a one-unit decrease in gas rigs

(Bloomberg) — Oil posted its third straight weekly rise on improving demand, with the International Energy Agency warning the market will need extra supply next year. Futures in New York rose 1.9% this week, extending its rally to the highest settle since October 2018. The IEA said that OPEC and its allies will need to

(Bloomberg) — Oil rose to the highest settle in over two years, drawing support from higher-than-forecast U.S. inflation data and a strong demand outlook. Futures in New York rebounded from a plunge of as much as 1.8% earlier on Thursday that followed reporting of U.S. removing sanctions on a former Iranian oil official. Crude found

(Bloomberg) — American oil refiners eager to boost gasoline production for the summer driving season are leaving the country awash with fuel at a time when the rebound in consumption is still uncertain. U.S. gasoline stockpiles have jumped to the highest in three-months, while a measure of demand fell to a three-month low, according to

(Bloomberg) — Oil broke through a months-long trading range as expectations of tightening supplies in the U.S. compounded signs the world’s largest oil-consuming country is in the midst of a robust recovery. West Texas Intermediate futures surpassed the $70 mark to close at its highest since Oct. 2018 after briefly touching the key psychological level

(Bloomberg) — Oil declined alongside a broader market sell-off, with prices losing some momentum after hitting $70 a barrel in New York for the first time in over two years. U.S. benchmark crude futures were largely weaker on Monday after failing to sustain a move beyond the psychological $70-a-barrel level. Chinese oil imports, a major

Articles about a shrinking portfolio for one company and an increase in influence for another ranked among the most popular articles last week among Rigzone’s downstream readership. Read on for details about these recent downstream-related developments on Rigzone. Shell Sells Alabama Refinery Vertex Energy Operating LLC has agreed to acquire Shell’s (NYSE: RDS.A) Mobile Chemical

Baker Hughes Co. (NYSE: BKR) on Friday reported the total number of rotary drilling rigs operating in the United States ended the week at 456, representing a one-unit decline from a week ago. The most recent U.S. rig count reflects no change in the number of oil (359) and a one-unit drop in gas rigs

Official cars are seen outside Grand Hotel Wien after a session of meeting of the Joint Comprehensive Plan of Action (JCPOA) on “Iran nuclear deal talks” in Vienna, Austria on May 01, 2021. Askin Kiyagan | Anadolu Agency | Getty Images A nuclear deal between the U.S. and Iran could send energy prices higher —

(Bloomberg) — Oil and gasoline futures both posted their second weekly gain in a row as expectations for a demand pick-up from the northern hemisphere’s summer begin to come to fruition. Futures in New York rose nearly 5% this week, the largest such increase since mid-April. A string of data this week so far affirmed

Oil storage containers are seen, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles, California, U.S., April 7, 2021. Lucy Nicholson | Reuters While a lot of the market’s attention is focused on volatile stocks like AMC and GameStop, many hedge funds are zeroing in on another trade: oil. The commodity has been on a

(Bloomberg) — Oil was virtually unchanged as a stronger dollar weighed broadly across commodities, while traders assessed rising fuel stockpiles in the U.S. Futures in New York lost two cents on Thursday, but still remain on track for a second straight weekly gain. U.S. government data showed domestic gasoline supplies rising by the most since

(Bloomberg) — Oil extended gains as signs of a demand recovery from the U.S. to Europe stoke optimism among producers and analysts in the crude market. Futures in New York surged 1.6% on Wednesday. Global benchmark Brent crude closed above the psychological $70-a-barrel mark for two consecutive days for the first time in more than