Oil

U.S. oil prices are falling, poised to enter a bear-market as lower Saudi Arabian prices and signs of strong supply join a deluge of oil and refined products that has been sending oil lower for weeks.

Hedge funds have turned very bearish towards both crude and refined products over the last two months amid signs of an oversupply of gasoline.

Oil prices steadied on Friday amid short-covering after a week-long selloff but were on track to end the month about 15 percent lower on persistent glut concerns, with the biggest decline seen for U.S. crude in a year.

Oil prices steadied on Friday amid short-covering after a week-long selloff but were on track to end the month about 15 percent lower on persistent glut concerns, with the biggest decline seen for U.S. crude in a year.

Dow component Chevron reported a 2Q loss of $0.78 per share. Wall Street was expecting a profit of $0.32. Revenue for the company came in at $29.28 billion, topping the estimate for $28.54 billion

Dow component Chevron reported a 2Q loss of $0.78 per share. Wall Street was expecting a profit of $0.32. Revenue for the company came in at $29.28 billion, topping the estimate for $28.54 billion

Exxon Mobil, the world's largest publicly traded oil producer, said on Friday its quarterly profit tumbled 59 percent due to the slump in crude prices.

Exxon Mobil, the world's largest publicly traded oil producer, said on Friday its quarterly profit tumbled 59 percent due to the slump in crude prices.

Crude oil prices hovered near three-month lows on Thursday, as unexpected growth in U.S. inventories kept downward pressure on the market, while the weaker dollar provided some support.

Crude oil prices hovered near three-month lows on Thursday, as unexpected growth in U.S. inventories kept downward pressure on the market, while the weaker dollar provided some support.

U.S. oil producer ConocoPhillips reported a bigger-than-expected quarterly loss and cut its 2016 budget for the third time this year amid a crude oil slump that has lasted for two years.

Baker Hughes reported a bigger-than-expected quarterly loss, hurt by lower drilling activity and pricing,

Royal Dutch Shell reported a more than 70 percent fall in quarterly profit on Thursday, well below analyst estimates, blaming weak oil prices, poor refining profits and higher charges resulting from its $54 billion acquisition of BG Group.

Royal Dutch Shell reported a more than 70 percent fall in quarterly profit on Thursday, well below analyst estimates, blaming weak oil prices, poor refining profits and higher charges resulting from its $54 billion acquisition of BG Group.

Oil prices tumbled 2 percent on Wednesday, hitting two-month lows, after a surprise build in U.S. crude and gasoline inventories despite the peak summer driving season as refiners cut production amid faltering demand and profits.

Oil prices dipped on Tuesday, with U.S. crude hitting three-month lows, as oversupply concerns weighed on the petroleum complex ahead of data likely to show unseasonably high gasoline stocks despite the peak U.S. summer driving period.

Oil prices dipped on Tuesday, with U.S. crude hitting three-month lows, as oversupply concerns weighed on the petroleum complex ahead of data likely to show unseasonably high gasoline stocks despite the peak U.S. summer driving period.