US to remove Patriots, other military assets from Saudi Arabia

The US is reportedly removing Patriot anti-missile systems and other military assets from Saudi Arabia’s oil facilities as it winds down a military build-up that began as tensions with Iran flared up last year, according to the Wall Street Journal newspaper. The reductions are said to be based on assessments by some officials that Tehran … Read more US to remove Patriots, other military assets from Saudi Arabia

Explained: If crude oil is so cheap, why is my petrol still expensive? | ABC News

This is the second instalments on our series examining the falling oil price. We’ve already looked at why the price of crude has dropped so sharply in recent weeks: https://youtu.be/mkhjar-XWHE Now Phil Lasker takes us through how that translates at the pump and in some cases why it doesn’t. Read more here: https://www.abc.net.au/news/2020-05-04/petrol-prices-fall-across-canberra-after-threat-to-cap-profits/12210154 For more … Read more Explained: If crude oil is so cheap, why is my petrol still expensive? | ABC News

Oil price drop takes towns from boom to bust

ABC News’ Marcus Moore reports on how the historic drop in oil prices is wreaking havoc on one west Texas town. ABC News Live Prime, Weekdays at 7EST & 9EST WATCH the ABC News Live Stream Here: https://www.youtube.com/watch?v=w_Ma8oQLmSM SUBSCRIBE to ABC NEWS: https://bit.ly/2vZb6yP Watch More on http://abcnews.go.com/ LIKE ABC News on FACEBOOK https://www.facebook.com/abcnews FOLLOW ABC … Read more Oil price drop takes towns from boom to bust

BP Is Taking Decisive Actions to Strengthen Finances, Says CEO

The CEO of BP, Bernard Looney, told how the firm would be taking decisive actions to strengthen finances, in order to ride out the covid-19 pandemic. Apr.28 — Bernard Looney, chief executive officer at BP Plc., discusses the impact of coronavirus on the business, the decision to not take any government assistance and his outlook … Read more BP Is Taking Decisive Actions to Strengthen Finances, Says CEO

Venezuela’s Maduro blames U.S. sanctions for oil price drop

Venezuela is facing a precipitous fall in the price of its oil, which plunged to its lowest level in 20 years on Friday. The country’s oil ministry says the cost of a barrel of oil has fallen to 9.90 U.S. dollars. While the government of Nicolas Maduro blames U.S. sanctions for the fall in oil … Read more Venezuela’s Maduro blames U.S. sanctions for oil price drop

How the oil price slump could reshape the oil industries in major economies

The outbreak of COVID-19 and the collapse of global oil prices have hit both supply and demand sides of the oil and natural gas markets. The unprecedented crude oil price collapse on the global market brings pains and gains to different countries, related industries, and people’s daily lives. Subscribe to us on YouTube: https://goo.gl/lP12gA Download … Read more How the oil price slump could reshape the oil industries in major economies

Rebound in oil prices helps domestic share market record first rise this week | Finance Report

A see-sawing oil price shook sharemarkets this week, with speculative prices dipping below zero as refiners searched for extra storage. Oil prices have now recovered and are now sitting above zero, but Wall Street was shaken by disappointing news in the search for a COVDI-19 treatment. For more from ABC News, click here: https://ab.co/2kxYCZY You … Read more Rebound in oil prices helps domestic share market record first rise this week | Finance Report

Australian dollar a little higher as the oil price rebounds | ABC News

The oil price rebounded today, leaving the local sharemarket flat and boosting the Australian dollar. For more from ABC News, click here: https://ab.co/2kxYCZY You can watch more ABC News content on iview: https://ab.co/2OB7Mk1 Subscribe to us on YouTube: http://ab.co/1svxLVE Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 You can also like us on Facebook: … Read more Australian dollar a little higher as the oil price rebounds | ABC News

Australian sharemarket flat, retail sales surge and oil price moves back above zero | ABC News

ASX closed flat after retail sales surged and the West Texas crude price moved back above zero. The country saw the biggest monthly rise in retail sales on the Australian Bureau of Statistics’ records, surging 8.2 percent in March, seasonally-adjusted. Read more here: https://www.abc.net.au/news/2020-04-22/retail-sales-surge-in-march-toilet-paper-rise-pasta-sales-double/12172606 For more from ABC News, click here: https://ab.co/2kxYCZY You can watch … Read more Australian sharemarket flat, retail sales surge and oil price moves back above zero | ABC News

US stocks drop 630 points on US oil price crash concerns

United States President Donald Trump has pledged to bail out the US oil industry after the US futures market plunged into negative territory for the first time ever on Monday. That volatility saw US stocks close in the red for a second straight day. The Dow Jones Index lost nearly 2 percent just after it … Read more US stocks drop 630 points on US oil price crash concerns

How the US oil price fell below zero | FT

Worries about the level of demand and lack of available storage capacity pushed the price of benchmark US crude oil prices below zero. The move has hit traders, companies and oil-producing nations. FT markets editor Katie Martin explains the causes of the crash and the fallout. Read more at https://on.ft.com/2Vs8sfC. See if you get the … Read more How the US oil price fell below zero | FT