Commodity Prices News

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Oil Extends Drop After Plunging on US Virus Warning
Wednesday, February 26, 2020 Oil extended losses below $50 a barrel after plummeting more than six percent over the previous two sessions on fears the fast-spreading coronavirus will take a major toll on global economic growth.

Oil Edges Up with Virus Fallout Still Unknown
Tuesday, February 25, 2020 Oil recovered some of its losses following the biggest drop in almost seven weeks as investors attempted to gauge the economic impact of the fast-spreading coronavirus and the potential response from producers.

No OPEC Oil Cut Decision Yet Says Saudi Minister
Tuesday, February 25, 2020 OPEC hasn't made a decision yet on whether to extend or modify its agreement to cut oil output.

Oil Sinks on CDC Warning of Impending Virus Outbreak in US
Tuesday, February 25, 2020 The slump in prices comes as the OPEC and allied producers prepare to meet in Vienna next week.

Coronavirus Ripple Effect Hits Oil Exporters Large and Small
Monday, February 24, 2020 EIU forecasts that China's slower GDP growth will have an outsized impact on oil prices in 2020.

Oil Slumps as Global Virus Spread Quickens
Monday, February 24, 2020 Oil slumped the most since Feb. 3 as a risk-off mood blanketed Asian markets after the global spread of the coronavirus quickened over the weekend.

Oil Sinks on Fears of Virus Evolving Into a Global Pandemic
Monday, February 24, 2020 Oil tumbled by the most in almost seven weeks.

Oil Stumbles on Fears of Virus Intensifying Beyond China
Friday, February 21, 2020 China revised how it calculates infection totals again, raising questions about data reliability and confirming the virus's growing reach.

Oil Rally Sputters on Renewed Virus Concern
Friday, February 21, 2020 Oil pared a second weekly gain on renewed concern about the impact of the coronavirus.

Vitol Sees Oil Recovery This Year
Friday, February 21, 2020 The oil market is poised for a recovery but will have to first tackle a severe virus-induced demand slump.

Oil Demand Growth Set for Strong 2021
Friday, February 21, 2020 Here are Rigzone's top stories during the last week, just in case you missed them...

Oil Shrugs Off Virus to Eye $60
Thursday, February 20, 2020 Oil extended gains to an eighth day on optimism that China will be able to soften the demand hit from the coronavirus.

Oil Jumps on Booming US Exports
Thursday, February 20, 2020 Exports surged and the expansion of domestic inventories slowed dramatically.

Supply Risks Push Crude Back Toward $60
Wednesday, February 19, 2020 Oil jumped back above $58 a barrel and was set for the longest run of gains in more than a year.

Oil Sees Three-Week High on Venezuela and Libya Supply Risks
Wednesday, February 19, 2020 Geopolitical tensions are rising against the backdrop of the coronavirus outbreak, which has hurt global energy demand.

Oil Snaps Rally as Investors Assess Virus Measures
Tuesday, February 18, 2020 Oil snapped the longest run of daily gains this year as investors assessed the demand hit from the coronavirus and stimulus measures being rolled out to cushion its economic impact.

Oil Flat After Rosneft Sanctions Offset Demand Fears
Tuesday, February 18, 2020 Sanctions on Russia's largest producer eased losses driven by lingering concerns that coronavirus will cut demand.

Corona Virus Hits Oil Demand and Prices
Tuesday, February 18, 2020 Analysts around the world are slashing demand forecasts for 2020.

Oil Steady as Asian States Seek to Offset Virus Impact
Monday, February 17, 2020 China and others in Asia promised economic stimulus to offset the impact of the coronavirus, buoying the outlook for fuel demand.

Short-Sellers Give Oil a Break
Monday, February 17, 2020 Short-sellers are giving oil a reprieve after the global coronavirus scare led them to double bearish wagers in just two weeks.

Oil Posts Weekly Gain
Friday, February 14, 2020 Investor confidence was lifted after China reassured the international community that a huge spike in new coronavirus cases was a one-off event.

EIA Cuts 2020 Oil Price Forecast
Thursday, February 13, 2020 The U.S. Energy Information Administration has cut its Brent oil price forecast for 2020.

Oil Rally Stumbles After Jump in Virus Cases
Thursday, February 13, 2020 A nascent rebound in oil prices ran into turbulence after China's Hubei province reported almost 15,000 new coronavirus cases as it changed its method for counting infections.

Oil Climbs on Easing Coronavirus Concerns
Thursday, February 13, 2020 The World Heath Organization rekindled optimism that the coronavirus outbreak could be abating.

Oil Rallies While Russia Ponders OPEC+ Plan
Wednesday, February 12, 2020 Oil rallied back above $50 a barrel as investors waited to see whether Russia would accept an OPEC+ plan for production cuts to cope with demand destruction from the coronavirus.

Crude Oil Up Despite US Inventory Rise
Wednesday, February 12, 2020 Futures in New York maintained gains Wednesday after rising as much as 3.6%.

Oil Posts Biggest Gain Since Early January
Wednesday, February 12, 2020 Signs that the spread of the coronavirus may be slowing boosted investor confidence that crude's sell-off has peaked.

Oil Bounces Back from One-Year Low
Tuesday, February 11, 2020 Oil bounced back from a one-year low in New York but the emergence of a glut since the coronavirus outbreak loomed over the market.

Oil Climbs Despite Russia's Indecision on OPEC+ Cut
Tuesday, February 11, 2020 OPEC+ needs to balance production with the demand trajectory, which looks down.

Oil Down as Expectations of Urgent OPEC Meeting Fade
Monday, February 10, 2020 Oil hovered around $50 a barrel in New York on signs a much-touted emergency meeting of OPEC+ ministers probably won't happen after all.

Shipping Gets Smashed by Coronavirus
Monday, February 10, 2020 The shipping industry tends to do badly when Chinese demand disappoints, but the outbreak of the coronavirus has done more than just damage the amount of cargo that needs to be transported.

Oil Sinks as OPEC Dithers on Output Cut
Monday, February 10, 2020 Oil fell below $50 a barrel to the lowest level in more than a year.

Oil Pares Fifth Weekly Loss on OPEC+ Plan
Friday, February 07, 2020 Oil pared its fifth straight weekly loss on optimism that OPEC+ will deepen output cuts.

Oil Posts Longest Weekly Losing Streak Since 2018
Friday, February 07, 2020 Coronavirus clouded the demand outlook and OPEC awaited Russia's decision on whether to cut production.

Oil Up on OPEC+ Optimism and China Tariff Cut
Thursday, February 06, 2020 Oil surged for a second day on optimism OPEC+ will agree on deeper cuts in response to virus-led demand destruction, and as China signaled it will cut tariffs on imports from the U.S. later this month.

Fitch Solutions Slashes Oil Price Forecast
Thursday, February 06, 2020 Fitch Solutions Macro Research has revised down its Brent oil price forecast for 2020.

US Considering Sanctions on Rosneft
Thursday, February 06, 2020 American officials are wary that the move could cause chaos in global oil markets.

Oil Climbs on Hopes Russia Will Agree to OPEC Cuts
Thursday, February 06, 2020 The uptick was on hopes that OPEC and its allies would further curb oil production.

Oil Up With OPEC+ Split on Cuts
Wednesday, February 05, 2020 Oil increased from a one-year low even as Saudi Arabia ran into Russian resistance in its push for further production cuts to combat a virus-driven demand decline.

Oil Ends 5-Day Losing Streak
Wednesday, February 05, 2020 An OPEC+ production cut overshadowed an uptick in US crude inventories.

Natural Gas to Drive 40 Percent of 2020 US Electricity
Wednesday, February 05, 2020 The country must continue to produce gas here, or it will be forced to turn to the increasingly precarious global supply chain.

Oil Sinks to One-Year Low on Virus Fears
Tuesday, February 04, 2020 Oil closed below $50 a barrel for the first time in a year as investors grappled with the prospect of the coronavirus paralyzing economic activity.

Oil Up Before OPEC+ Meeting to Assess Demand
Tuesday, February 04, 2020 Oil climbed before OPEC and its allies gather Tuesday for an urgent meeting to assess the impact of the coronavirus on global demand.

US Natural Gas Prices Continue Freefall This Winter
Monday, February 03, 2020 The cold weather has simply not arrived.

China Oil Demand Said to Have Plunged 20 Percent
Monday, February 03, 2020 Chinese oil demand has dropped by about three million barrels a day as the coronavirus squeezes the economy, according to people with inside knowledge of the country's energy industry.

Citi Does Not See Oil Revival from Virus Until 4Q
Monday, February 03, 2020 Citigroup Inc. slashed its price forecasts for commodities from oil to copper and iron ore as it said the impact of the coronavirus looks much worse than it initially thought.

Oil Slides After Virus Curbs China Demand
Monday, February 03, 2020 Oil extended the worst start to a year since 1991.

Oil Prices Down Amid Ongoing Pathogen Impact
Friday, January 31, 2020 WTI and Brent prices fell Friday and are down for the week.

Oil Rebounds After WHO Update
Friday, January 31, 2020 Oil jumped after the World Health Organization said there's no need for travel bans due to the coronavirus.

Chevron Posts Steepest Loss in a Decade
Friday, January 31, 2020 Most of the fourth-quarter loss stemmed from $10.4 billion in previously announced impairments.