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by Benoît PELEGRIN Agence France-Presse LONDON, United Kingdom (AFP) – Oil prices jumped above $80 this week for the first time in almost three years, handing a major boost to producers — but fuelling more inflationary pain for consumers, analysts say. The price of European benchmark Brent North Sea crude for delivery in November hit $80.75 per barrel on Tuesday, attaining the highest level since October 2018, but edged lower on Wednesday. The market has […]
by Julien MIVIELLE Agence France-Presse PARIS, France (AFP) — Already under pressure due to climate change, the world’s top listed oil firms suffered historic losses in 2020 as the Covid-19 pandemic sent demand and prices tumbling. The oil majors — BP, Chevron, ExxonMobil, Shell and Total — suffered $77 billion in losses for the year. Shell CEO Ben van Beurden called 2020 an extraordinary year. Total’s Patrick Pouyanne said: “All of us will remember 2020 […]
Singapore (AFP)—Oil prices recovered in Asia on Monday after a steep fall in the previous session, with US crude back above $30 a barrel as traders mulled the impact of a potential freeze by key producers. Oil spiked sharply last week after major exporters held talks on a potential agreement to reduce a global supply glut that has dragged prices to their lowest levels in nearly 13 years this month. Saudi Arabia and Russia, […]
(Reuters) — A CSX Corp train carrying crude oil derailed and burst into flames in downtown Lynchburg, Virginia on Wednesday (April 30), spilling oil into the James River and forcing the evacuation of hundreds. CSX said 15 cars derailed at 2:30 p.m. EDT on a train traveling from Chicago to Virginia. Photos and video footage from the scene showed high flames and a large plume of black smoke. Officials said there were no injuries, but some 300 to 350 people in […]
