Oil

Latest news from the commodity market. Updates on commodity trading, prices and futures news.

Oil

May 25, 2018

Crude prices set to soar ahead of shipping revolution

Instead of OPEC, Iran or even Venezuela, the most prominent driver of oil prices over the next two years is likely to come in the...

The Angleviken Maltese oil tanker sails offshore Saint-Nazaire, western France, on March 10, 2016. / AFP / LOIC VENANCE (Photo credit should read LOIC VENANCE/AFP/Getty Images)

May 24, 2018

American Oil Boom Seen Tempting Ships to Steer Clear of Iran

The latest standoff between the U.S. and Iran may be leaving oil-tanker owners in more of a bind than in previous years. (more…)

May 23, 2018

Oil producers boost 2019 hedging -Goldman Sachs

Oil producers have picked up the pace in hedging against further production in 2019, with an average price at about $60 a barrel, which limits...

May 22, 2018

U.S. commodity exports to China to rise amid trade talks, but volumes are capped

China has pledged to buy more U.S. goods to reduce America’s huge trade deficit and help avoid exacerbating a trade war between the world’s two...

May 17, 2018

U.S. oil shipments to Asia may hit new high in July

The volume of U.S. crude oil arriving in Asia is expected to hit a new high in July as Asian refiners sought arbitrage supplies to...

May 17, 2018

Shipping Revolution Has Oil Headed for $90 – Morgan Stanley

Forget Iran and OPEC — there’s another issue that will keep oil prices supported for the next two years, according to Morgan Stanley. (more…)

epa05142254 The Starla, an Iranian large crude oild tanker with a cargo-carrying capacity of 317,000 dead weight tons, is moored at a buoy of South Korea' largest oil refiner SK Energy off Ulasan, South Korea's southeast coast, 04 February 2016. It marks the second time an Iranian crude oil carrier has made a call at a South Korean port since 17 January, when the international community lifted most economic sanctions against the Middle East country. EPA/YONHAP SOUTH KOREA OUT

May 16, 2018

Iran Oil Exports Face Insurance Snag No Matter What Europe Wants

If European powers are to succeed in holding together a nuclear deal with Iran that the U.S. abandoned a week ago, then one issue they’ll...

May 15, 2018

Maersk Tankers, Torm refuse new Iran business: industry officials

As the countdown begins for the restoration of US sanctions on Iran, many shipping companies such as Maersk Tankers and Torm are already refusing to...

May 14, 2018

Shale Gas Exporters to Gain as Iran Move Encourages Drilling

Another darling of the Trump administration is poised to gain from the Iran deal breakup as oil surges: Natural gas exports. (more…)

May 11, 2018

Oil Traders Prepare to Cut Iranian Crude

European oil refiners and trading houses began preparing to cut purchases of Iranian crude after Washington imposed harsher sanctions on shipments from Tehran than many...

May 10, 2018

Iran Oil Flow May Be Hit by Foreign Tanker Exodus

The snap-back of U.S. sanctions on Iran’s oil exports may well see international shipping companies, which have carried more than half of Iran’s oil exports...

A general view of a crude oil importing port in Qingdao, Shandong province, in this November 9, 2008 file photo. REUTERS/Stringer/Files

May 10, 2018

An Iranian exodus could open more doors for US crudes in Europe

The potential reduction of Iranian crude into the European market as result of renewed sanctions will likely benefit US crude exporters, which have enjoyed an...

May 9, 2018

Curacao faces ‘potential crisis’ from Venezuela-Conoco row

A legal dispute between ConocoPhillips and Venezuelan state oil firm PDVSA could leave Curacao’s economically important Isla refinery without crude oil to process, posing a...