FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant
A spike in COVID-19 cases across several U.S. states, however, raised the prospect of renewed lockdowns that would likely hold back any sustained recovery in fuel demand. The United States reported more than 58,000 new COVID-19 cases on Wednesday, the biggest increase ever reported by a country in a single day, with infections climbing in 42 out of 50 states, according to a Reuters tally.
The OPEC+ is still the king to dictate how to play the yoyo.
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Oil prices idle as coronavirus spike fears offset signs of gasoline recoveryOil prices barely moved in early trade on Thursday as positive momentum from signs of a recovery in U.S. gasoline demand was tempered by concerns about renewed lockdowns with COVID-19 infections surging in the United States. Expect at least a year of this. But I want it lower? Drop it to near zero like the Fed bank Interest rate. No one’s going to resume driving anytime soon in this pandemic.
Source: Reuters - 🏆 2. / 97 Read more »
Oil edges lower as U.S. inventory build stokes supply fearsOil prices dipped on Wednesday after industry data showing a build in U.S. crude stockpiles added to worries about oversupply, but hopes for a swift economic recovery in China limited losses.
Source: Reuters - 🏆 2. / 97 Read more »
Oil prices slide as spike in U.S. coronavirus cases casts gloom over fuel demand prospectsOil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. Good. Moon🇮🇳 Is this drop going to be reflected at the pumps then? I think not somehow!
Source: Reuters - 🏆 2. / 97 Read more »
Hundreds evacuated after oil spill in central PhilippinesMore than 400 people have been evacuated from a coastal village in the central Philippines after about 250,000 liters (66,000 gallons) of bunker fuel spilled from a power-generating barge into the sea Web Browser: Safer - Faster - Better. Download & install it for free - Brave is a High Performance browser with Awesome Security & Privacy. Try it Now! 3x Faster Than Any Browser. Adblocker Pre-installed. Download & Start Protect your web browsing Now! 🙏🙏🙏
Source: ABC - 🏆 471. / 51 Read more »
What if carbon removal becomes the new Big Oil?Thirty years from now, a new technology has stabilised the climate and brought the planet's emissions to net-zero. How does it work? F Spoiler: it's an asteroid. It won’t be
Source: TheEconomist - 🏆 6. / 92 Read more »
End of an era? Series of U.S. setbacks bodes ill for big oil, gas pipeline projectsA rapid-fire succession of setbacks for big energy pipelines in the United States this week has revealed an uncomfortable truth for the oil and gas industry: environmental activists and landowners opposed to projects have become good at blocking them in court. People have a right not to be poisoned in the name of the almighty dollar.
Source: Reuters - 🏆 2. / 97 Read more »