NEW YORK — Oil prices crashed on Monday, suffering their biggest daily rout since the 1991 Gulf War, after the collapse of an OPEC+ supply agreement that now threatens to overwhelm the…
Column: Even before price plunge, hedge funds were abandoning oil
LONDON (Reuters) – Even before the OPEC+ output agreement broke down on Friday, sending oil prices into a tailspin, hedge funds had launched a second wave of oil-related selling and established one…
How Europe Should Manage the Coronavirus-Induced Crisis
either interest-rate cuts nor new government spending would do much to offset the short-term effects of COVID-19 in Europe. Central banks and government authorities should explain this to the public, and then…
Europe embarks on economic revolution with climate law
Bloomberg/Brussels Europe wants to make it illegal by 2050 to emit more greenhouse gases than can be removed from the atmosphere. European Commission President Ursula von der Leyen unveiled a draft law…
Dodging environmental rules is about to get harder for shippers
Bloomberg /London A tweak to new environmental rules for the shipping industry is just days from taking effect, closing off a loophole for would-be cheats looking to cut their fuel bills. Starting…
US gas export pioneers forced to sell shares amid market slump
Two pioneers of the U.S. natural gas export industry were forced to sell shares of the company they founded amid a global market rout and concern that a key supply deal won’t…
Virus Rout Pushes U.S. Energy Explorers to Brink of Distress
The coronavirus outbreak that has sent markets worldwide on a collective nosedive is forcing U.S. oil and gas explorers already burning through borrowed cash and failing to deliver returns to the brink…
LNG cargoes cancelled as virus compounds export glut in US
A buyer of liquefied natural gas has cancelled two cargoes from Cheniere Energy Inc, the biggest US exporter, as a glut pummels prices for the fuel and threatens to shut a key…
Mideast can deliver 8,500bcm gas at $2.5 per MMBtu average breakeven prices by 2030: Report
The Middle East can deliver approximately 8,500bn cubic metres (bcm) of gas with average breakeven prices of $2.5 per MMBtu [Million British Thermal Units] by 2030, a new report has shown. While…
US caves to Europe over broaching climate change at G20
The US gave into pressure from Europeans over environmental concerns, allowing the word “climate” into a joint communique at a conference overshadowed by a viral outbreak that’s shaken the global economy. Delegates…