Oil Demand Faces Bigger Coronavirus Shock Than Previously Thought

The coronavirus pandemic will have an even bigger impact on the global economy and its demand for oil than previously expected, OPEC said. 


 
Oil Hits 5-Month-High as U.S. Supplies Shrink

U.S. benchmark oil prices settled at a five-month-high, closing 2.5% higher after the EIA reported a third straight week of sharp declines in U.S. oil inventories. 


 
U.S. Natural-Gas Inventories Seen Up in Week

Government data are expected to show natural-gas storage levels rose last week by 56 billion cubic feet, a slightly larger amount than usual due to weaker demand after Hurricane Isaias caused widespread power outages. 


 
Tankers Waiting for Weeks off Congested China Ports, Oil Facilities

Crude-laden tankers have been lining up for weeks at a time off China's coast as ports struggle to handle the millions of barrels of inbound oil that have swamped the country's overfilled storage sites. 


 
U.S. Oil Refiners Accelerate Shift to Renewables in Downturn

Phillips 66 plans to convert a San Francisco-area oil refinery into a biofuels plant, the oil industry's latest move amid depressed fuel consumption and growing U.S. regulatory pressures. 


 
U.S. Oil Inventories Fall for 3rd Consecutive Week

U.S. inventories of crude oil fell more than expected last week, while fuel stockpiles also declined, according to data released Wednesday by the Energy Information Administration. 


 
Hermitage Offshore Files for Bankruptcy Protection in U.S.

Bermuda-based Hermitage Offshore Services filed for bankruptcy protection, its business of providing support for oil-drilling operations battered by the coronavirus pandemic. 


 
E.ON Cuts Forecasts Despite Profit Rise

Germany's E.ON posted a 32% jump in second-quarter adjusted earnings, boosted by its takeover of Innogy, but revised down its outlook for the year. 


 
Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities 


 
Ex-Mexican President Enrique Peña Nieto Accused of Corruption by Former State-Oil Chief

The former head of Mexico's state-oil company accused former president Enrique Peña Nieto and his former finance minister of instructing him to funnel bribes to the 2012 presidential campaign, the country's Attorney General said.