The Trump administration awarded $500 million in contracts for Venezuelan oil sales to two firms with a history of bribery and corruption.

WTI crude oil rallies above $62.20 resistance, targeting previous tops at $64.75 and $66.49 with bullish momentum intact. Winter storm disrupts U.S. crude production, sending Gulf Coast exports to zero before rebounding as supply tightens.

Crude oil price edged higher on Wednesday as weather disruptions and a weaker US dollar bolster the asset. At the time of writing, Brent oil was trading at $66.62 as the bulls gather enough momentum to break the resistance at $66.

LONDON (Reuters) -BP said it expects upstream production to rise in the third quarter, reversing earlier guidance for a slight decline, but flagged weak oil trading performance in a trading update ahead of results due on November 4. The oil major guided ...

Trading house Trafigura sold a cargo of Venezuelan oil to a Spanish refiner, while rival Vitol prepared to export Venezuelan fuel oil as shipments accelerate from the OPEC nation under a U.S.-backed $2 billion oil supply deal following the capture of President Nicolas Maduro,

European energy giant Shell (SHEL) on Thursday said that it expects to report higher oil and gas production in the fourth quarter while flagging that its oil trading performance significantly worsened as crude prices dropped. Oil trading results for the ...

Oil prices fell below $60 per barrel recently due to a combination of oversupply and weak demand. Global oil inventories are rising, putting downward pressure on prices. At the same time, both OPEC+ and U.S. production are increasing amid relatively stable ...

Oil price moves aren't random, and sharp reversals and stalls are often driven by options positioning and mechanical hedging flows, not news or fundamentals.

The global trading arm of Abu Dhabi National Oil Co (ADNOC) is leasing fuel oil storage in Singapore for the first time, five market sources said, part of the United Arab Emirates-backed oil and gas producer's plans to boost trade volumes in Asia.

The update comes at a time when the oil market is lurching into an oversupply that could make for challenging trading conditions in the months ahead. Image by Stanley Yeh via iStock Shell Plc said its oil trading performance worsened in the fourth quarter ...

President Donald Trump has signed an executive order that would impose a tariff on any goods from countries that sell or provide oil to Cuba, a move that puts pressure on Mexico