Mike Wittner – The ICE – The world oil market is in the midst of a massive collapse in demand, driven by...
Bethany Blankley – The Center Square – The push to bring more economic development to the Appalachian region of western Pennsylvania, West...
Nathaniel Bullard – Bloomberg – Gas is the future. On Sunday, Virginia-based utility Dominion Energy Inc announced plans to sell almost all of...
TIME – The U.S. Supreme Court handed another setback to the Keystone XL oil sands pipeline from Canada on Monday by keeping...
Reuters – Canada’s drilling rig count, a bellwether of the oil and gas industry’s growth, has plummeted far below previous records, raising...
Bloomberg – Dominion Energy Inc., one of the largest utilities in America is starting to turn its back on natural gas. Dominion...
By: David Blackmon – Forbes – Drilling? Consolidation? What Drilling? What consolidation? – The highlights of the quarterly mergers and acquisitions tracking report...
By: Sam Meredith – CNBC – Oil giant Royal Dutch Shell said on Tuesday it will write down the value of its assets...
By: Mella McEwen – Midland Reporter-Telegram – For 80 years, the weekly rig count provided by the Baker Hughes service company has...
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(Reuters) - Oil prices gained more than 3% on Tuesday as President Donald Trump ramped up pressure on Russia over its war in Ukraine and on optimism that a trade war between the U.S. and its major trading partners was abating.
Brent crude futures settled $2.47, higher at $72.51 a barrel, while U.S. West Texas Intermediate crude gained $2.50, or 3.75%, to settle up at $69.21. Both contracts settled at their highest since June 20.
On Tuesday, Trump said he would start imposing tariffs and other measures on Russia "10 days from today" if Moscow did not make progress toward ending the war in Ukraine.
"We've amped it up. We have a hard deadline of 10 days," said Phil Flynn, senior analyst with Price Futures Group. "And there's a suggestion that other countries are going to join us."
Also on Tuesday, U.S. Treasury Secretary Scott Bessent said he had told Chinese officials that, given U.S. secondary tariff legislation on sanctioned Russian oil, China could face high tariffs if Beijing continued its Russian oil purchases.
U.S. stocks finished lower on Tuesday, with the S&P 500 and Nasdaq Composite both snapping winning streaks ahead of a pivotal day on Wall Street that will feature the Federal Reserve's interest-rate decision, second-quarter GDP data and key earnings reports from megacap technology firms.
The S&P 500 was off 18.91 points, or 0.3% to end at 6,370.86. The large-cap index snapped its six-day winning streak, according to FactSet data.
The Nasdaq Composite fell 80.29 points, or nearly 0.4% to finish at 21,098.29, ending its four-session winning streak.
The Dow Jones Industrial Average dropped 204.57 points, or nearly 0.5%, ending at 44,632.99.
Earlier in the day, U.S. and Chinese negotiators concluded their latest round of trade talks in Stockholm aimed at extending a tariff truce that is set to expire in mid-August.
But later on, Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer said they would report back to President Donald Trump, who will make the final decision on an extension of the truce.
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Yuka Obayashi and Katya Golubkova | TOKYO (Reuters) -U.S. President Donald Trump said on...
Baker Hughes, Hunt Energy, and Argent LNG are forming a partnership to create a...
By Charles Kennedy for Oilprice.com | Shell and other major energy players have withdrawn...
Merger and acquisition activity in the U.S. upstream oil and gas sector slowed significantly...
by Andreas Exarheas| RIGZONE.COM | Chevron will “consolidate or eliminate some positions” as part of...
The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
The U.S. oil and gas industry is riding a line between productivity and paralysis....
By Felicity Bradstock for Oilprice.com | The United Nations Development Programme (UNDP) and the...
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(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
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