CNBC – Some of the world’s largest oil producers will meet to discuss a historic production cut later this week, with energy...
Wal van Lierop – Forbes – The COVID-19 pandemic has shuttered the world’s economies, overwhelmed healthcare systems and taken loved ones from...
NEW YORK (AP) — In Montana, a father and son running a small oil business are cutting their salaries in half. In...
By: Dylan Goforth – Enid News & Eagle – Gov. Kevin Stitt this week sent a letter to President Donald Trump, urging...
USA TODAY – Former Energy Secretary Rick Perry believes that the oil industry could collapse because of the dramatic decrease in demand...
By Greg Avery – Reporter, Denver Business Journal – Denver-based oil company Whiting Petroleum is seeking Chapter 11 bankruptcy protection, the first of what experts...
Houston Chronicle – Bankruptcy attorneys and restructuring experts are quickly becoming the most popular people in the oil patch. Energy companies are...
Texas Tribune – Two Texas oil companies with large footprints in the West Texas oil patch sent a letter Monday to state...
David Gaffen, (Reuters) The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic...
Bloomberg – The American shale industry shocked the world with its rebound after the 2014-2016 bust, setting records for output that pushed...
Oil futures finished Monday with a gain after President Trump slapped tariffs on Canada, Mexico and China over the weekend, sparking worries over U.S. crude imports. Upside was limited, however, by concerns that a trade war would dent demand.
At a regularly scheduled meeting on Monday, ministers from members of OPEC+ — made up of the Organization of the Petroleum Exporting Countries and its allies — left its existing oil production plans unchanged, even as Trump last month called on the group to lower oil prices.
West Texas Intermediate crude for March delivery rose 63 cents, or 0.9%, to settle at $73.16 a barrel on the New York Mercantile Exchange after trading as high as $75.18.
April Brent crude , the global benchmark, tacked on 29 cents, or 0.4%, to $75.96 a barrel on ICE Futures Europe.
Back on Nymex, March gasoline climbed 2.9% to $2.12 a gallon, while March heating oil gained 2.7% to $2.46 a gallon.
March natural gas surged 10.1% to $3.35 per million British thermal units, after posting a gain of nearly 12% last week.
U.S. stocks ended lower, but recovered from their session lows, after President Trump said on Monday that he would pause imposing new tariffs on Mexico for a month, though tariffs on China and Canada will stil take effect on Tuesday.
The Dow Jones Industrial Average went down 122.75 points or 0.28% to close at 44421.91, according to FactSet data.
The S&P 500 declined 45.96 points or 0.8% to finish at 5,994.57.
The Nasdaq Composite fell 235.49 points or 1.20% to end at 19,391.96.
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