Major U.S. stock indexes fell on Tuesday, with the Dow and S&P...
Major U.S. stock indexes fell on Tuesday, with the Dow and S&P 500 both snapping a 4-session win streak, as economic data showed more signs of a sputtering U.S. economy.The Dow Jones Industrial Average DJIA, -0.59% fell about 198 points, or 0.6%, ending near 33,403, while the S&P 500 index SPX, -0.58% shed 0.6% and the Nasdaq Composite Index COMP, -0.52% fell 0.5%, according to preliminary FactSet data. Investors were eyeing less robust economic data out Tuesday. The number of U.S. job openings in February fell to a 21-month low, while orders for manufactured goods fell for the third time in the past four months. Gold prices GC00, 1.94% were flirting with a return to record territory, trading above $2,000 an ounce.
Study: US Gulf oil, gas more carbon intensive than thought
A new study co-authored by climate scientists at the University of Michigan revealed that Gulf of Mexico...
A new study co-authored by climate scientists at the University of Michigan revealed that Gulf of Mexico oil and natural gas production has a carbon intensity twice that estimated by federal agencies, due to excessive methane pollution. Study co-author Eric Kort noted that most of the methane emissions detected in the Gulf of Mexico were from shallow water oil and gas operations, providing insight to policymakers and agencies for making informed decisions on drilling leases.
Judge rules Willow project construction can proceed
Opponents of ConocoPhillips' Willow oil development on Alaska's North Slope endured a legal setback...
Opponents of ConocoPhillips' Willow oil development on Alaska's North Slope endured a legal setback after US District Court Judge Sharon Gleason denied their requests to stop construction work on the project. The ruling allows ConocoPhillips to proceed with cold-weather construction activities, including mining gravel for a road to the project, but environmental groups say they will continue legal efforts to overturn the project's approval.
Freeport LNG's return drives US LNG exports to a record
US liquefied natural gas exports reached a record 8.52 million short tons in March, as Freeport LNG,...
US liquefied natural gas exports reached a record 8.52 million short tons in March, as Freeport LNG, the No. 2 US LNG exporter, resumed operations after an eight-month outage caused by a fire, data from Refinitiv Eikon show. Europe remained the main destination for US LNG, accounting for 71% of the 108 total cargoes, while Asia and Latin America and the Caribbean took up 17% and 4.5% of shipments, respectively.
Dow, S&P 500 clinch 4-day win streak, energy stocks jump on oil production cuts
The Dow and S&P 500 both closed higher on Monday to kick off April with a 4th straight session...
The Dow and S&P 500 both closed higher on Monday to kick off April with a 4th straight session of gains, after a group of major global oil nations on Sunday announced surprise production cuts. The Dow Jones Industrial Average DJIA, +0.98% climbed about 326 points, or 1% on Monday, to end near 33,600, according to preliminary FactSet data. The S&P 500 index SPX, +0.37% gained 0.4%, while its energy component outperformed with a 4.9% climb. The Nasdaq Composite Index COMP, -0.27% shed 0.3%. Investors piled into energy stocks after the Organization of the Petroleum Exporting Countries and its allies said Sunday they would in May cut production by more than 1 million barrels a day in an effort to support oil-market stability, including with Saudi Arabia slashing its output by 500,000 barrels a day. May WTI oil future contract CLK23, +6.30% climbed more than 6% to trade above $80 a barrel, the biggest daily gain in more than a year. The Energy Select Sector SPDR FundXLE, +4.53% rose 4.6%.
