Storage is the hottest commodity right now in oil markets

Mar 31, 2020
Swooning demand means there's a lot of oil being produced but not consumed. That's making storage prices soar.
The price to store oil is soaring. Above, a pipeline carries oil at the Federal Strategic Petroleum Reserve facility known as Big Hill near Beaumont, Texas.
Joe Raedle/Newsmakers

Oil price war: Saudis have lowest costs; doesn't mean they'll win

Mar 10, 2020
Low oil prices affect all producer nations. Each has different vulnerabilities.
Gabriel Bouys/AFP/Getty Images

Consumers see cheaper gas at the pump as COVID-19 reduces demand for oil

Mar 5, 2020
Companies are using less oil to make and ship things. As consumers curtail travel, they use less oil, too.
Gas prices in the U.S. are down about 15 cents per gallon since January.
Scott Barbour/Getty Images

OPEC, Russia discuss large oil supply cuts in "demand emergency"

Mar 4, 2020
There was talk that OPEC and Russia might together cut the world's supply of oil by one million barrels a day.
Joe Klamar/AFP/Getty Images

Coronavirus: OPEC-Russia consider emergency meeting to cut supply in response to anemic Chinese demand

Feb 3, 2020
Nervous traders are selling oil contracts first and asking questions later.
Ryad Kramdi/AFP via Getty Images
Limits on travel in China are negatively affecting oil prices. Above, people walk through Hankou Railway Station in Wuhan, China on Jan. 21, 2020.
AFP via Getty Images

After the U.S. attack in Iraq, how high will oil go?

Jan 3, 2020
Some analysts say Iran’s most likely initial target for retaliation? Oil facilities in Iraq.
Protesters in Lahore, Pakistan, hold a burned U.S. flag on Friday as they shout slogans during a demonstration near the U.S. consulate following a U.S. airstrike that killed Iranian commander Qassem Soleimani in Iraq.
Arif Ali/AFP via Getty Images

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Chevron's nearly $11B write-down reflects weak demand and low oil and gas prices

Dec 11, 2019
Some energy companies are questioning whether they can wait out the current dip in prices.
Chevron noted challenges in natural gas fields in the Marcellus Shale formation and in deepwater oilfields in the Gulf of Mexico.
Joe Raedle/Getty Images

To maintain oil prices, OPEC and Russia entertain further cuts to supply

Dec 4, 2019
Members of the OPEC coalition of oil producers meet tomorrow in Vienna to discuss an excess of oil supply. The group will be joined by Russia on Friday for further talks. That combined group, known as OPEC-Plus, previously agreed to reduce production in order to keep prices up. Now, there’s too much oil with nowhere […]
A slowing worldwide demand for gasoline is leading to an excess in supply.
Justin Sullivan/Getty Images

Cost of shipping oil rises as tankers face more attack risk

Oct 11, 2019
A string of recent oil tanker attacks is leading the industry to take extra precautions and raise shipping and insurance rates.
Fire and smoke billow from a Norwegian-owned oil tanker said to have been attacked in the waters of the Gulf of Oman in June 2019.
AFP/Getty Images