US oil companies have quickly become the new swing factor in the oil market. How they react to the crash will be key to future oil prices.» Read More
European equities closed mixed on Monday, after a volatile day of trading.
South African energy company Sasol delayed its $14 billion expansion in Louisiana amid falling oil prices, the New York Times reports.
Canada's oil sector will cut its 2015 investment by one third amid plummeting oil prices, The Financial Times reports.
The lift in prices come after OPEC's Secretary General and the International Energy Agency's chief economist both said they expected prices- hovering at April 2009 lows- to rebound later this year. Total SA joined a raft of international oil companies, including BP Plc and ConocoPhillips, in slashing budgets in light of the recent plunge in prices.
US crude closed oil nearly 3 percent, rebounding from falls in the previous session as more energy firms cut investments and the dollar weakened.
OPEC's secretary-general and the International Energy Agency's chief economist both said they expected prices, currently near their lowest since 2009, to rebound later this year. The cut is "headline-grabbing," analyst Matt Smith of Schneider Electric said, but it will be months before an actual reduction will manifest. Turmoil in Yemen further added to the...
OPEC's secretary general says oil prices will remain around their current levels for around a month before rebounding.
European markets closed higher on reports that the ECB is set to buy around 50 billion euros per month of government bonds for around a year.
European equities rallied after a volatile session of trade on Thursday to close sharply higher, following action from the Swiss National Bank.
European equities closed sharply higher on Tuesday, with a surge in retail stocks helping to boost investor sentiment.
A surge in U.S. gasoline and diesel supplies spells more trouble for oil prices but is good news for consumers.
Oil's dramatic fall in price will have serious effects on revenues and spending in the sector, according to industry analysts.
Wall Street is getting more bearish on the outlook for oil prices and some strategists see the market many months away from finding a floor.
Oil futures plunged on a surge in supplies of U.S. oil and a record level of gasoline.
European shares closed higher on Tuesday, with revised growth data from the U.S. and record gains on Wall Street boosting sentiment.
Shale oil firms in the U.S. will suffer in the next two years due to the dramatic fall in the price of the commodity, according to Dennis Gartman.
OPEC talked down the oil market, sending crude sharply lower, while warm weather and growing supply battered natural gas prices.
Trying to pick a bottom in energy stocks: is this the time to go long?
FORT MCMURRAY, Alberta, Dec 16- The boomtown in the heart of Canada's oil sands region is getting nervous. Fort McMurray, surrounded by the boreal forest of northern Canada, has long drawn thousands with jobs that paid six-figure salaries to a region that produces more crude than anywhere else in the Western Hemisphere. Suncor Energy Inc, Total SA and Statoil ASA...
European stock markets closed sharply lower on Friday, as commodity prices continued to fall and and shares in oil-related firms tanked.