Oil prices fall as Trump's Aug 1 trade tariff deadline looms
(Reuters) - Oil prices declined on Thursday as U.S. President Donald...
(Reuters) - Oil prices declined on Thursday as U.S. President Donald Trump's August 1 tariff deadline loomed over investors, with uncertainty surrounding countries yet to negotiate a trade deal with the U.S.
Brent crude futures for September expired on Thursday and settled down 71 cents, or 0.97% to $72.53 a barrel. U.S. West Texas Intermediate crude for September settled down 74 cents, or 1.06%, to $69.26. U.S. crude futures fell more than $1 earlier in the session.
Both benchmarks had recorded 1% gains on Wednesday.
Meanwhile, U.S. crude oil production rose to a record 13.49 million barrels per day in May, data from the U.S. Energy Information Administration showed.
U.S. crude output was up 24,000 bpd in May from the prior record in April, the EIA data showed.
U.S. crude oil inventories rose by 7.7 million barrels to 426.7 million barrels in the week ending July 25, driven by lower exports, the EIA said on Wednesday. Analysts had expected a draw of 1.3 million barrels.
Gasoline stocks fell by 2.7 million barrels to 228.4 million barrels, far exceeding forecasts for a draw of 600,000 barrels.
Stocks end mostly lower but book strong July gains
Stocks finished lower Thursday, with the S&P 500...
Stocks finished lower Thursday, with the S&P 500 and Nasdaq Composite turning south after flirting with yet another round of records in the final trading day of the month.
The S&P 500 closed with a loss of 23.51 points, or 0.4%, at 6,339.39.
The Nasdaq Composite shed 7.23 points, or less than 0.1%, to end at 21,122.44.
The Dow Jones Industrial Average suffered a fourth straight fall, finishing with a loss of 330.30 points, or 0.7%, at 44,130.98.
From Twitter: Shell profits slumped 32% in the second quarter
Shell profits slumped 32% in the second...
Shell profits slumped 32% in the second quarter as prices retreated and its oil and gas traders struggled to navigate wild market swings driven by unpredictable newsflow https://t.co/I3ZEWWDI6j
Report: Ransomware attacks on oil, gas firms spike 935%
Ransomware attacks on oil...
Ransomware attacks on oil and gas companies surged 935% from April 2024 to April 2025, driven by increased automation and digitization of industrial control systems, according to a Zscaler report. The report notes that half of all ransomware attacks during this period targeted the US, with 3,671 incidents surpassing the total for the next 14 countries combined.
Five Point Infrastructure is in talks to sell Delaware...
Five Point Infrastructure is in talks to sell Delaware Basin midstream assets to MPLX LP for $2.3 billion.
Five Point portfolio company Northwind Midstream operates a natural gas midstream system focused on sour gas gathering and processing in Lea County, New Mexico.
A sale to MPLX could value Northwind’s assets at over $2 billion, including debt, Bloomberg News reported July 30, noting that a deal is not guaranteed.
Northwind’s portfolio includes over 220 miles of low- and high-pressure pipelines, five compressor stations and a central treating and sequestration hub, according to the company’s website.
Northwind’s system is designed to handle over 400 MMcf/d of natural gas treating capacity. The plant can currently handle 150 MMcf/d of sour gas and is adding another 50 MMcf/d.
