Oil ends lower after Russia agrees to cease-fire on Ukraine’s energy infrastructure
Oil futures finished with a loss on Tuesday as Russia’s...
Oil futures finished with a loss on Tuesday as Russia’s temporary cease-fire on Ukraine’s energy infrastructure lifted the possibility that the U.S. will ease sanctions on the flow of crude from Moscow.
Oil prices gave up early gains on growing tensions in the Middle East following U.S. attacks on Iran-backed Houthi rebels in Yemen over the weekend that threatened to disrupt crude flow in the oil-rich region.
West Texas Intermediate crude for April delivery declined by 68 cents, or 1%, to settle at $66.90 a barrel on the New York Mercantile Exchange after ending Monday 0.6% higher.
May Brent crude, the global benchmark, fell 51 cents, or 0.7%, at $70.56 a barrel on ICE Futures Europe.
April gasoline shed 0.6% to $2.17 a gallon, while April heating oil lost 0.4% to $2.19 a gallon.
Natural gas for April delivery settled at $4.05 per million British thermal units, up nearly 0.9%.
Dow loses 260 points, S&P 500 and Nasdaq fall sharply ahead of Fed rate decision
U.S. stocks finished lower on Tuesday, with technology...
U.S. stocks finished lower on Tuesday, with technology companies dragging down the market ahead of the Federal Reserve's interest-rate decision on Wednesday.
According to FactSet data, the Dow Jones Industrial Average was off 260.32 points, or 0.6%, to end at 41,581.31.
The S&P 500 tumbled 60.46 points, or 1.1% to finish at 5,614.66.
The Nasdaq Composite slumped 304.55 points, or 1.7%, ending at 17,504.12.
All three major stock indexes failed to extend their recovery rally into a third day, resuming their sharp selloff on Tuesday despite a batch of stronger-than-expected economic data.
The U.S. central bank is widely expected to hold interest rates steady at a range of 4.25% to 4.50% at the conclusion of its March policy meeting on Wednesday, though policymakers' Summary of Economic Projections should give investors more insight into their outlook for the U.S. economy. The median rate projection in December signaled just two quarter-point rate reductions in 2025.
The Fed will release a policy statement on Wednesday at 2 p.m. Eastern time, followed by Chair Jerome Powell's press conference at 2:30 p.m.
Chevron Buys 15.4MM Shares of Hess Stock on Open Market
Chevron Corp. has been busily buying up nearly 5% of Hess Corp.’s...
Chevron Corp. has been busily buying up nearly 5% of Hess Corp.’s outstanding common stock at prevailing market prices as the major continues to wait to wrap up its $55 billion acquisition of the independent E&P.
According to a Securities and Exchange Commission filing, Chevron purchased 15.38 million Hess shares between January and March 2025. From January through March 17, Hess stock traded between about $135 and $151 per share.
The purchases were made at prices that represent a discount to the price of shares of Hess common stock “implied in the exchange ratio set forth in the Merger Agreement entered into between Chevron and Hess on October 22, 2023.” The purchases also reflect Chevron’s confidence in the consummation of the pending acquisition of Hess, the company said.
Trump and Putin to talk dividing “assets” and ending Russia-Ukraine war
President Trump and Russia’s Vladimir Putin are expected ...
President Trump and Russia’s Vladimir Putin are expected to speak today to further the goal of ending Russia’s war with Ukraine. Trump said the two would discuss land and power plants as part of “dividing up certain assets.” The conversation between the two leaders comes after Trump publicly clashed with Ukrainian President Volodymyr Zelensky in the Oval Office, and Ukraine agreed to a US-backed plan for a 30-day ceasefire if Russia signed on. Trump said he thinks “we have a very good chance” of ending the war, which began when Russia invaded Ukraine three years ago.
The ceasefire between Israel and Hamas appears to have ...
The ceasefire between Israel and Hamas appears to have collapsed as Israel carried out airstrikes in the Gaza Strip that Palestinian authorities say killed more than 300 people. The strikes were the heaviest fighting since the two sides agreed to a ceasefire in January. Israel’s Prime Minister Benjamin Netanyahu said he ordered the strikes after Hamas refused Israel’s demands to make changes to the ceasefire agreement and free the remaining hostages in Gaza, saying Israel would now “act against Hamas with increasing military strength.” The White House said it supported Israel’s actions. However, a senior Hamas official said the attacks amounted to “a death sentence” for the remaining hostages, per the Associated Press. However, there were not immediate reports of retaliatory attacks by Hamas, suggesting it might still be hoping to resume the ceasefire.
