Oil slips as little impact seen from EU sanctions on Russia
Oil prices settled slightly lower on Monday as the latest European sanctions on Russian...
Oil prices settled slightly lower on Monday as the latest European sanctions on Russian oil were expected to have minimal impact on supplies, but losses were curbed by investors weighing a potential drop in diesel supplies.
Brent crude futures settled down 7 cents, or 0.1%, to $69.21 a barrel. U.S. West Texas Intermediate crude settled down 14 cents, or 0.2%, to $67.20.
The European Union approved on Friday the 18th package of sanctions against Russia over its war in Ukraine, which also targeted India's Nayara Energy, an exporter of oil products refined from Russian crude.
"The market right now thinks that supply will still make it to market in one way, shape or another. There is not too much concern," said John Kilduff, a partner at Again Capital in New York.
Kremlin spokesperson Dmitry Peskov said on Friday that Russia had built up a certain immunity to Western sanctions.
The EU sanctions followed U.S. President Donald Trump's threats last week to impose sanctions on buyers of Russian exports unless Russia agrees to a peace deal within 50 days.
Dow ends lower, S&P and Nasdaq close at records after stocks pare gains late
U.S. stocks ended mostly higher on Monday, with tech...
U.S. stocks ended mostly higher on Monday, with tech stocks leading the gains as investors looked ahead to earnings from major tech companies, including Tesla and Google’s parent Alphabet, due later this week.
The Dow Jones Industrial Average went down 19.12 points or 0.04% to end at 44,323.07, marking back-to-back losses, according to the Dow Jones Market Data.
The S&P 500went up 8.81 points or 0.1% to end at 6,305.60, a record close. It is the index's 10th record close of the year.
The Nasdaq Composite rose 78.52 points or 0.4% to finish at 20,974.17, also closing at a record and marking its sixth consecutive daily gain. It is the index's 12th record close of the year.
Calif. bill would streamline oil well permitting until 2036
A new legislative proposal in California would tie abandoned well plugging...
A new legislative proposal in California would tie abandoned well plugging to new well drilling at a two-to-one ratio until 2036 and conditionally remove requirements for Geologic Energy Management approval of new wells. The measure marks a shift in Gov. Gavin Newsom's attitude toward the oil industry as the state grapples with refinery closures and fuel supply concerns.
U.S. stocks open slightly higher as investors await tech earnings
U.S. stocks kicked off trade Monday with modest gains...
U.S. stocks kicked off trade Monday with modest gains ahead of earnings from crucial tech players later this week as traders also kept an eye on tensions between the White House and the Federal Reserve and continued to monitor trade negotiations.
"Big banks kicked off earnings season on a mostly positive note last week, but tech and AI enthusiasm played a bigger role in helping some of the major indexes tag more record highs," said Chris Larkin, managing director for trading and investing at E-Trade from Morgan Stanley, in a note. The Nasdaq ended Friday at a record, while the S&P 500 notched a record finish on Thursday.
Scott Sheffield Bashes Exxon Mobil After FTC Clears Him
The Federal Trade Commission (FTC) revoked a 2024 decision prohibiting...
The Federal Trade Commission (FTC) revoked a 2024 decision prohibiting former Pioneer Natural Resources CEO Scott Sheffield from holding an Exxon Mobil position.
But after winning the clearance, Sheffield said that “as for the possibility of joining Exxon’s board now, because of actions they have taken in this matter, I am no longer interested.
“Exxon signed a rushed, baseless and illegal order barring me and other Pioneer employees from taking an Exxon board seat. In doing so, they effectively broke the commitment they made to me in their merger agreement with Pioneer, the company I founded and led for over 40 years.”
Sheffield led Pioneer’s merger with Exxon Mobil in 2024 in a $64.5 billion stock and debt assumption deal.
