Traders financing floating oil storage

The waters between Singapore and Malaysia used to heave with wooden ships carrying exotic spices. Now the Straits of Malacca are filled with vessels carrying a very diffe...
Oil slides for fourth straight day

Oil dropped for a fourth day as producers in Canada worked to resume operations after wildfires curbed output and Iran continued to raise exports amid a global surplus. J...
Oil posts second consecutive weekly gain

Oil fell Friday as the expiration of the June contract in New York spurred selling by traders who don’t intend to take delivery of barrels next month, but closed up for t...
Drillers pause in shutting down rigs

Oil explorers in the U.S. put a pause on their rig cancellations this week as improving technology and rising prices make some basins more profitable. Rigs targeting crud...
Banks increasing credit squeeze on drillers

Banks that have cut billions of dollars from U.S. oil and gas drillers’ credit lines are trying to make it even harder for the beleaguered companies to borrow. At least t...
Oil aims for second weekly advance

Oil headed for a second weekly advance as U.S. crude production continued to decline and firefighters defended Canadian oil-sands operations from wildfires. Futures in Ne...
Crude output in Iraq has likely peaked

Crude output in Iraq, OPEC’s second-largest producer, has probably peaked and is likely to fall short of the country’s target over the next two years, according to an off...
Oil slips in face of stronger dollar

Oil slipped  a second day as the dollar advanced against other currencies on growing speculation that the Federal Reserve will raise interest rates as soon as next month....