International

Bahri’s net profit soars 134% in first quarter despite COVID-19 challenges

Bahri, a global leader in logistics and transportation, on Wednesday reported strong growth in net profit during the first quarter of 2020 despite challenges posed by the global COVID-19 pandemic. The increase in quarterly earnings was driven by a significant improvement in the performance of the company’s business units resulting from a rise in freight rates and strong demand for oil transportation.

Oil Extends Recovery From Selloff But Angst Over Glut Lingers

Oil extended its recovery from Monday’s plunge below zero but remained under intense pressure from a swelling global supply glut.

Ships, trains, caves: Oil traders chase storage space in world awash with fuel

Oil traders are struggling to find enough ships, railcars, caverns and pipelines to store fuel as more conventional storage facilities fill up amid abundant supply and plummeting demand due to the coronavirus crisis.

Oil Jumps in Early Asia Trading After Two Days of Huge Selloffs

Oil surged 10% in early Asia trading after two days of historic routs.

BP’s CHPC supercomputer mobilized to assist in coronavirus research

BP is joining forces with the US government, universities, and the world’s largest technology companies by providing access to its supercomputer to help researchers halt the spread of COVID-19.

How an Epic Gamble Exposed the Rot Inside an Oil Empire

The rise and fall of legendary oil trading house Hin Leong: $800 million in hidden losses

US oil prices crash below $0 a barrel. Global stocks are mixed

US oil prices crashed Monday to a record low as the market continues to be roiled by an epic collapse in demand caused by the coronavirus pandemic

Saudis to sell 600,000 bbl of oil a day to the U.S. in April

Saudi Arabia is set to sell about 600,000 barrels a day of crude to the U.S. in April, the highest volume in a year, according to a Saudi industry official familiar with allocations to American refiners.