Monday, July 6, 2020
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The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S.

Oil slides as fears grow that coronavirus resurgence could stunt fuel demand recovery

Brent crude LCOc1 futures were down 35 cents, or 0.8%, at $42.79 a barrel as of 0633 GMT, and U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 35...
Informal gold miners are seen taking a break from work under the midday sun at an artisanal mining site near Dano, southern Burkina Faso

World agencies step in as pandemic poverty hits artisanal miners

World market prices of gold - viewed by investors as a safe store of value in uncertain times - have surged to levels last seen in 2012, and are up...
A view shows an oil derrick at Vankorskoye oil field owned by Rosneft company north of the Russian Siberian city of Krasnoyarsk

Russia takes a leaf out the U.S. shale oil playbook

At least two state-owned banks, Sberbank and VEB, plan to lend oil firms some 400 billion roubles ($6 billion) at effectively almost zero interest rates to drill about 3,000...
A logo of Italian multinational energy company Enel is seen at the Milan's headquarter, Italy

Enel to launch hydrogen business as part of green drive

The group is targeting markets in the United States, Chile and Spain, the head of Global Power Generation Antonio Cammisecra told Reuters. In the United States a focus will...
Oil prices are likely to pull back in the coming weeks due to the uncertain path of future demand and a “daunting” inventory overhang, Goldman Sachs said in a note dated Monday.

Goldman Sachs expects oil rally to run out of steam soon

“The collapse in (refining) margins to unprecedented lows is reflective of both over-valued crude prices as well as a more moderate demand recovery, two pillars of our short-term bearish...
Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al-Saud speaks via video link during a virtual emergency meeting of OPEC and non-OPEC countries, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia April 9, 2020. Picture taken

Saudi Arabia to end voluntary cuts on top of OPEC+ pact

OPEC, Russia and other producers agreed on Saturday to extend record output cuts of 9.7 million barrels per day (bpd) into July, curbing global supply by almost 10% amid...
Tanker trucks of Mexico state oil firm Pemex's are seen at Cadereyta refinery in Cadereyta, on the outskirts of Monterrey, Mexico

Why bond investors are willing to bet on money-losing Pemex after oil price crash

Despite all the risks of holding the world’s largest fallen angel, the ignominious distinction for a company that loses its investment-grade rating, bondholders are betting on continued support from...
Ships waiting to be loaded with iron ore can be seen at Port Hedland in the Pilbara region of Western Australia

Australia reassures on China iron ore processing changes

On Wednesday, China said it would simplify customs inspection procedures for iron ore imports from June 1, with quality checks no longer mandatory. But the move...
An aerial view shows power-generating windmill turbines in a wind farm in Graincourt-les-Havrincourt, France

Global green energy growth to fall for first time in 20 years

The world is set to build fewer wind turbines, solar plants and other installations that produce renewable electricity this year as energy demand has been reduced across commercial and...
Engineers talk as they stand next to pipes to be used for a pipeline that is part of the Sakhalin-2 project, some 220 km (137 miles) north of Yuzhno-Sakhalinsk on Sakhalin Island October

Coronavirus creates repair headache for oil and gas industry

Lockdowns to stop the spread of COVID-19, the flu-like infection caused by the virus, have snarled the supply of spare parts and have prevented maintenance workers from doing their...