Oil dropped more than $1 a barrel to around $74 on Monday as rising risk aversion weighed on stock markets and boosted the U.S. dollar, while more U.S. Gulf oil output came back online in the wake of two hurricanes.
Oil in New York surged by the most since April amid a broader market rebound after the longest stretch of declines in nearly two years.
The Offshore Technology Conference (OTC) is set to open for the first time since the Covid-19 pandemic began.
Saudi Aramco followed its Big Oil competitors with bumper earnings, boosted by a recovery in oil and chemical prices.
The U.S. and Germany have completed a deal approving completion of the Nord Stream 2 pipeline, effectively ending a longstanding rift over German gas purchases from Russia, the allies confirmed Wednesday.
Angola's Oil and Gas Industry Continues to Provide Huge Opportunities for Investors, Despite Energy Transition
Over the past three decades, Angola has proven to be a tier one destination for major oil and gas producers.
The physical oil market, in which millions of barrels of crude are bought and sold each day, is screaming for more supply in the run-up to a pivotal meeting of OPEC+ producers this week.
Oil may surge to $100 a barrel next year as travel demand rebounds, Bank of America Corp. said, the strongest call yet among major forecasters for a return to triple digits.
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.
U.S. President Joe Biden's administration on Tuesday said it would suspend oil and gas leases that were handed out in an Alaska wildlife refuge during the final days of the Trump administration pending an environmental review.