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Market Currents: Short-covering supports crude oil amid producer meeting hopes

One hundred and thirty-nine years after Emile Berliner invented the microphone, and a strong nonfarm payrolls report has amplified the weekly gain for crude into the weekend, at least for now. Let’s...

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Brazil’s Silva denounces detention in corruption probe

The once-immensely popular president, who governed from 2003 to 2010, angrily denounced the Friday morning raid on his home by police to detain him as part of a campaign to sully his image, that of his...

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Brazil’s Marcelo Odebrecht sentenced to more than 19 years

A federal judge on Tuesday sentenced the former president of the country's largest construction company to more than 19 years in prison for involvement in the massive corruption scheme at Brazil's...

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Brazil judge releases phone taps between pres., ex-pres.

The judge heading the sprawling investigation into corruption at Brazil's state oil company on Wednesday released recordings of phone taps of former President Luiz Inacio Lula da Silva, which he said...

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Brazil’s Petrobras reports $10.2 billion quarterly loss

Petrobras has been at the center of a sprawling corruption scandal that has ensnared some of Brazil's most powerful lawmakers and business executives.

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Market Currents: Oil heading lower on higher oil inventories

Two hundred and twenty-two years after Josiah G. Pierson patented the rivet machine, and the oil market remains as riveting as ever. (I’m here all week, folks). After yesterday’s API report gave a...

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Iowa corn feeds Brazil’s fuel tanks as demand spurs import surge

Like many Midwest distillers, Plymouth’s Merrill, Iowa, plant was built a decade ago for a U.S. market that was importing ethanol to satisfy laws mandating increased use of renewable fuels.

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Drillers could double project investment decisions in 2017, Wood Mac says

Major oil companies could venture back into the ocean depths this year. Energy research firm Wood Mackenzie believes drillers will double the number of final investment decisions this year compared to...

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At OTC, Brazil touts reforms in hopes drillers will invest

Plagued by recent corruption scandals, Brazil is working to lure oil companies to new exploration contracts, offering the most offshore acreage in its history and promising to lower local content...

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Petrobras, Shell fire up pre-salt oil field off Brazil

A first-of-its-kind vessel owned by Petrobras and Shell has begun pumping oil off Brazil in one of the world’s most lucrative deep-water basins. Shell said Friday the companies fired up their first...

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