Oil settles up as signs of US-Iran impasse counter economic concerns
(Reuters) - Oil prices settled marginally higher on Monday as signs of...
(Reuters) - Oil prices settled marginally higher on Monday as signs of a breakdown in U.S. talks with Iran over its nuclear program offset a Moody's downgrade of the U.S. sovereign credit rating.
Brent crude futures settled 13 cents higherat $65.54 a barrel, while U.S. West Texas Intermediate crude closed up 20 cents at $62.69 a barrel. Both contracts rose more than 1% last week.
Nuclear talks will lead nowhere if Washington insists that Tehran stop its uranium enrichment activity, Iranian state media quoted Deputy Foreign Minister Majid Takht-Ravanchi as saying on Monday.
That remark dented hopes for an agreement, which would have paved the way for the easing of U.S. sanctions and allowed Iran to raise its oil exports by 300,000 to 400,000 barrels per day, StoneX analyst Alex Hodes said.
"That potential increase looks very unlikely now."
U.S. stocks end higher as investors digest Moody's U.S. credit downgrade
U.S. stocks ended higher on Monday, reversing earlier...
U.S. stocks ended higher on Monday, reversing earlier losses, as investors digested Moody’s decision to downgrade the U.S.’s credit rating from triple-A.
According to Dow Jones Market Data, the Dow Jones Industrial Average was up 137.33 points, or 0.3%, to end at 42792.07 after falling 317 points at its session low.
The S&P 500 increased 5.22 points or less than 0.1% to close at 5963.60.
The Nasdaq Composite added 4.36 points or less than 0.1% to finish at 19,215.46
VIX jumps after Moody’s downgrades U.S. credit rating
The stock market’s "fear gauge" jumped Monday after...
The stock market’s "fear gauge" jumped Monday after Moody’s downgraded the U.S. government’s credit rating.
The CBOE Volatility Index, which trades under the ticker symbol VIX, was up 13% on Monday morning at around 19.50, according to FactSet data, at last check. That’s around the gauge’s long-run average.
“While the Moody’s downgrade may cause a bit of near-term equity market volatility, history shows it does not portend structurally higher interest rates, an imminent recession, or declining stock prices,” Nicholas Colas, co-founder of DataTrek Research, said in a note emailed Monday.
“Rating agencies play a critical role in capital markets, but their decisions about US sovereign debt have never signaled anything useful about future asset prices,” he said.
Diminished availability of premium acreage has a growing number of US...
Diminished availability of premium acreage has a growing number of US shale operators turning to refracturing technology to extract more hydrocarbons from depleted wells in mature shale fields. Innovations like high-pressure liner hangers and hybrid refrac designs are increasing production efficiency, lowering costs and extending the productive life of aging assets.
$15B+ in Biden-era energy grants under DOE scrutiny
At least 179 Biden-era energy grants worth more than $15 billion will...
At least 179 Biden-era energy grants worth more than $15 billion will undergo Energy Department audits to assess compliance with the Trump administration's funding standards, according to a memo from Energy Secretary Chris Wright. Large-scale commercial projects will be prioritized, and grants could face cuts or termination if recipients fail to meet federal criteria or respond promptly to information requests.
