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Oil explorers idled rigs in US fields for the 25th straight week, drawing out an unprecedented retreat in drilling that has curbed the country’s shale oil boom and helped crude prices rally.
Rigs targeting oil in the US declined by 13 to 646, the lowest since August 2010, field services…
The UK aims to maximize domestic oil and gas production and curb the spread of onshore wind farms as the government leans toward maintaining energy security over cutting carbon emissions.
The measures form part of an Energy Bill announced by Queen Elizabeth II in a speech to Parliament in London…
North Sea crudes are trading at the biggest discount to the regional benchmark in more than six years amid a surplus of cargoes.
Forties, the largest of the benchmark North Sea crudes, sold Thursday at the steepest discount to Dated Brent since 2008, according to a Bloomberg survey of brokers…
Crude oil prices recovered on Thursday after a two-day slide, although high U.S. stocks and strong global production, along with a firm dollar, were keeping markets under pressure.
The resurgent dollar had weighed on the market earlier in the week, plus concerns that U.S. crude supplies may have started rising…
Crude prices were broadly unchanged in early trading on Tuesday, as firm demand supported and ample supply dragged, but analysts said there were signs that a recent rally was running out of steam.Robust demand in Asia as well as due to the driving season in the US is being…
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