LONDON—Oil prices fell on Tuesday as bleak economic data from top crude buyer China renewed concerns of a global recession and the market monitored talks on a reviving deal that could allow more Iranian oil exports. Brent crude futures fell 84 cents, or 0.9 percent, to $94.26 a barrel by 0953 GMT. WTI crude futures…
Oil Extends Losses as Weak Demand Outlook Persists
August 16, 2022
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Stocks End Higher on Wall Street; Economic Worries Hit Oil
Stocks on Wall Street bounced back from an early slide and closed higher Monday, extending the market’s recent winning ways as investors look ahead to several updates from retailers this week. The S&P 500 rose 0.4 percent after having been down 0.5 percent in the early going. The benchmark index has risen for four straight weeks…
The Paleface (1922)
August 15, 2022
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Buster helps a Native American tribe save their land from greedy oil barons. Credit: Public Domain Movies – Feature Films: Cinema collection: epochcinema.com Epoch Original content: epochoriginal.com Feature Films: www.theepochtimes.com/featured-films * Click the “Save” button below the video to access it later on “My List.” Follow EpochTV on social media: Twitter: twitter.com/EpochTVus Rumble: rumble.com/c/EpochTV Truth…
Oil Drops as China Data Disappoints, Iran Talks in Focus
August 15, 2022
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LONDON—Oil prices fell by more than $3 a barrel on Monday on concerns over demand in China, the world’s largest crude importer, and ahead of Iran’s response to a nuclear deal proposal which could raise the country’s oil exports. Brent crude futures fell $3.49, or 3.56 percent, to $94.66 a barrel by 0945 GMT after…
High Oil Prices Help Saudi Aramco Earn $88 Billion in First Half
DUBAI, United Arab Emirates—Saudi energy company Aramco said Sunday its profits jumped 90 percent in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion. Major oil companies had a strong quarter with Exxon Mobil booking an unprecedented $17.85 billion profit while Chevron made a record $11.62…
Biden Administration, Wall Street Impede New Oil and Gas Investments
The oil and gas industry is looking to the future with caution, and plans for expanding production of fossil fuels appear to be limited. At the Enercom Energy Investment conference in Denver this week, the oft-repeated mantra among CEOs was that they will use the bulk of their profits to pay down debt and return…
Oil Prices Set for Weekly Climb, but Cloudy Outlook Caps Gains
August 12, 2022
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LONDON—Oil prices fell on Friday as recession fears clouded the demand outlook yet remained on track for a weekly rise. Brent crude futures were down $1.15, or 1.2 percent, to $98.45 a barrel 1110 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell $1.48 or 1.6 percent to $92.86 a barrel. Brent was on…
OPEC, in Contrast to IEA, Sees Lower 2022 Oil Demand Growth
August 11, 2022
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LONDON—OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation, and efforts to contain the coronavirus pandemic. The view from the Organization of the Petroleum Exporting Countries contrasts with that of the International Energy Agency,…
Oil Rises as IEA Hikes 2022 Demand Growth Forecast
LONDON—Oil prices rose by over 1 percent on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring gas prices drive some consumers to switch to oil. Brent crude futures gained $1.04, or 1.1 percent, to $98.44 a barrel by 0949 GMT, while U.S. West Texas Intermediate crude…
Cuba Tames Its Largest Fire, Fuel Depot Locals Begin to Return
MATANZAS, Cuba—Massive clouds of steam rose from Cuba’s largest fuel depot in Matanzas on Wednesday as firefighters, helicopters, and boats poured water and foam on the smoldering remains of the largest fire in the island’s history. Black charcoal covered with white ash remained red hot after the flames died down. One firefighter was confirmed dead,…
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