US Gulf production picks up after pipeline leak fixed
Production has resumed at six US Gulf of Mexico platforms that were shut in after a leak at a booster...
Production has resumed at six US Gulf of Mexico platforms that were shut in after a leak at a booster station in Louisiana forced Shell to close its Mars and Amberjack pipelines. The pipeline outage affected platforms operated by Shell, Chevron and Equinor.
Falling gas prices provide sign inflation is waning
Gasoline prices have fallen below $4 a gallon for the first time since March, contributing to hopes that...
Gasoline prices have fallen below $4 a gallon for the first time since March, contributing to hopes that inflation is slowing. The drop is attributed to fewer concerns that supply might become restricted, although Goldman Sachs analysts say the situation might be affected by an increase in crude oil prices later this year. Meanwhile, OPEC has cut a forecast for growth in global oil demand.
Swelling profits helped shale producers reduce debt loads and bolster their cash reserves in the second...
Swelling profits helped shale producers reduce debt loads and bolster their cash reserves in the second quarter, Bloomberg data show, providing companies with more capital to fund dividends, share buybacks and acquisitions. "Energy companies have come a long way toward repairing and reinforcing their balance sheets and are in a much stronger position today to handle another downturn in commodity prices than they were going into the 2015 or 2020 crashes," said Bloomberg Intelligence analyst Spencer Cutter.
U.S. stocks lose ground as China stirs global slowdown fears
U.S. stocks lost ground early Monday morning, under pressure as weak China data underlined...
U.S. stocks lost ground early Monday morning, under pressure as weak China data underlined concerns over the global growth outlook and investors paused for breath after last week extending a bounce off mid-June lows.
The Dow Jones Industrial Average DJIA, -0.10% fell 54 points, or 0.2%, to 33,708.
The S&P 500 SPX, -0.25% was off 14 points, or 0.3%, at 4,267.
The Nasdaq Composite COMP, -0.22% lost 33 points, or 0.3%, to trade at 13,014.
The S&P 500 advanced 3.3% last week, its fourth straight weekly gain and longest such winning streak since November. The Dow rose 2.9% last week, while the Nasdaq Composite gained 3.1%
Empire State factory index has fallen further into negative territory in August
The numbers: The New York Fed’s Empire State business conditions index, a gauge of...
The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 42.4 points to a negative 31.3 in August, the regional Fed bank said Monday.
This is the second largest monthly decline on record and among the lowest levels in the survey’s history, the regional Fed bank said.
Economists had expected a reading of 5.0, according to a survey by The Wall Street Journal.
Any reading below zero indicates deteriorating conditions
