Oil

Oil prices hit 5-month high as U.S. crude stockpiles, dollar fall

Oil prices rose to their highest since early March on Wednesday after U.S. crude inventories fell sharply and the dollar weakened, but mounting coronavirus infections had investors worried about the demand outlook. Brent crude ended the session up 74 cents, or 1.7%, at $45.17 a barrel, while West Texas Intermediate oil settled 49 cents, or […]

August 10, 2020

Marathon Oil posts smaller-than-feared loss on cost cuts

Marathon Oil Corp posted a smaller-than-expected loss on Wednesday as it reined in costs to cushion the impact from the COVID-19 pandemic that has crushed crude prices and sapped demand for fuel. The oil and gas producer cut its costs and expenses by 17.2% to $975 million as the average realized price for its U.S. […]

August 10, 2020

U.S. court allows Dakota Access oil pipeline to stay open, but permit status unclear

A U.S. appeals court on Wednesday said the Dakota Access Pipeline (DAPL) does not have to be shut and drained per a lower court order, but a legal battle continued over the permit that allowed the line to be finished. U.S. regulatory officials may still need to issue another environmental assessment for DAPL before deciding […]

August 10, 2020

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