Oil drops more than 2% on U.S. inventories build, demand worries

Oil drops more than 2% on U.S. inventories build, demand worries
NEW YORK (Reuters) – Oil futures tumbled more than 2% on Wednesday as an unexpected build in U.S. crude stockpiles compounded investor worries that a prolonged trade fight between Washington and Beijing could dent crude demand. FILE PHOTO: An oil well pump jack is seen at an oil field supply yard near Denver, Colorado, U.S., February 2, 2015. REUTERS/Rick Wilking/File... Read More

British Steel collapses after failing to secure extra funding

British Steel collapses after failing to secure extra funding
LONDON (Reuters) – British Steel, the country’s second largest steel producer, has collapsed and put 25,000 jobs at risk after failing to secure emergency government funding, Britain’s Official Receiver said on Wednesday. The High Court ordered the compulsory liquidation of the company, although staff will remain employed for now as the liquidator oversees the operation of the main site in... Read More

Oil sheds more than $1/bbl as U.S. inventories grow, demand worries flare

Oil sheds more than $1/bbl as U.S. inventories grow, demand worries flare
NEW YORK (Reuters) – Oil futures sank on Wednesday as an unexpected build in U.S. crude stockpiles compounded investor worries that a prolonged trade war between Washington and Beijing could dent crude demand. FILE PHOTO: An oil well pump jack is seen at an oil field supply yard near Denver, Colorado, U.S., February 2, 2015. REUTERS/Rick Wilking/File Photo Brent crude... Read More

Oil prices down on swelling U.S. stockpiles, demand concerns

Oil prices down on swelling U.S. stockpiles, demand concerns
LONDON (Reuters) – Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and on demand concerns linked to a protracted trade war between China and the United States. FILE PHOTO: An oil well pump jack is seen at an oil field supply yard near Denver, Colorado, U.S., February 2, 2015. REUTERS/Rick Wilking/File Photo However,... Read More

Oil falls on rising U.S. stockpiles, but markets remain tense

Oil falls on rising U.S. stockpiles, but markets remain tense
TOKYO/SINGAPORE (Reuters) – Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and as Saudi Arabia pledged to keep markets balanced. FILE PHOTO: Storage tanks are seen at Ecopetrol’s Castilla oil rig platform, in Castilla La Nueva, Colombia June 26, 2018. REUTERS/Luisa Gonzalez/File Photo However, analysts said oil markets remained tight amid supply cuts... Read More

Oil little changed as U.S.-Iran dispute supports, trade war weighs

Oil little changed as U.S.-Iran dispute supports, trade war weighs
NEW YORK (Reuters) – Oil futures were steady on Tuesday as the prospect of mounting U.S.-Iran tensions disrupting supply was offset by concerns that a lengthy trade war between Washington and Beijing would limit crude demand. FILE PHOTO: An oil well pump jack is seen at an oil field supply yard near Denver, Colorado, U.S., February 2, 2015. REUTERS/Rick Wilking/File... Read More