US oil prices plunge below zero for first time in history due to coronavirus COVID-19 crisis
In a first, United States oil prices plummeted to negative on Monday (April 20) as the demand for energy plunged sharply due to the coronavirus COVID-19 pandemic. According to The New York Times, the fuel storage tanks in the United States were near capacity making it tough for the companies to hold all the unused crude.
Apr 21, 2020, 07:08 AM IST
US oil dips on increased drilling, but OPEC cuts support global markets
US crude production has risen by 15 percent since mid-2016 to 9.66 million barrels per day, not far from top producers Russia and Saudi Arabia, and increasing drilling activity for new production means output is expected to grow further.
Nov 27, 2017, 10:32 AM IST
US oil jumps more than 10% to $42.56 a barrel
US oil prices surged more than 10 percent Thursday, climbing back above $40 a barrel after strong American economic growth data lifted confidence about the world`s biggest economy and petroleum user.
Aug 28, 2015, 00:53 AM IST
Stocks post worst week in years on China fears
World stock markets tumbled on Friday and U.S. oil prices dove briefly below $40 a barrel sparked by fresh evidence of slowing growth in China, sending investors scurrying to the safety of bonds and gold.
Aug 22, 2015, 09:14 AM IST
US oil prices near six-year lows as China weighs
US oil prices fell towards six-year lows on Tuesday after stock markets tumbled in China, the world`s largest energy consumer, adding to worries about global fuel demand at a time of heavy oversupply.
Aug 18, 2015, 17:04 PM IST
Oil rallies from multi-year lows
US oil prices Wednesday shot up more than five percent in a move attributed to bargain-hunting after the contract sank to a new multi-year low the prior day.
Jan 15, 2015, 05:00 AM IST
US oil prices slip below $50 a barrel
US oil prices on Monday slipped below $50 a barrel for the first time in more than five years as the surging dollar and news of additional supplies extended a six-month rout.
Jan 06, 2015, 02:39 AM IST
US oil prices finish lower
US oil prices fell Friday on continued worries about oversupply despite fresh violence in oil exporter Libya.
Dec 27, 2014, 03:36 AM IST
Oil prices sink to multi-month lows on demand concerns
US oil prices plunged more than $3 Tuesday following weak manufacturing data from China and Europe and amid generous supplies around the world.
Sep 03, 2014, 06:10 AM IST
