NEW YORK Oil fell nearly 2% on Friday, finishing lower for the week, in anticipation of a surge in Libyan crude supply and demand concerns caused by surging coronavirus cases in the United States and Europe.
NEW YORK U.S. crude oil exports are expected to sputter through the end of 2020 due to weak production and unfavorable economics for foreign buyers of U.S. oil, traders and analysts said.
NEW YORK Oil gained more than 1% on Tuesday on the prospect the United States was nearing a deal on coronavirus relief, but the threat to demand from rising COVID-19 cases worldwide and increased Libyan output kept prices from moving higher.
NEW YORK The coronavirus pandemic has stalled a once-furious race among energy companies to build deepwater oil export terminals off the Texas coast, amid permitting delays and rising environmental opposition.
NEW YORK Oil prices rose more than 2% on Tuesday, supported by expected supply disruptions from a hurricane approaching the Gulf of Mexico and an oil worker strike in Norway.
NEW YORK Oil prices rose 1% on Monday as global equities rallied on hopes for another U.S. stimulus package, but rising virus cases fed concerns about fuel demand and kept oil futures from moving higher.