By Chris Baltimore Argus Media – A rising shift to “neat” barrels from cocktail-like crude blends at the Louisiana infrastructure hub at...
Bloomberg – Chesapeake Energy Corp.’s options for dealing with its towering debt load are shriveling as the natural gas driller seeks to auction...
Pittsburgh Business Times – Cabot Oil and Gas Corp. CEO Dan O. Dinges on Friday questioned why other drillers are continuing to...
Chris Casteel The Oklahoman – As Democratic presidential candidates court Oklahomans for votes, some are calling for measures that would sharply curtail...
Reuters – South Korea is on track to overtake Canada as the top buyer of U.S. crude oil in 2020 as a...
Financial Times – Bankruptcy risks in the US shale sector are rising, with weak oil prices and tightening access to credit worsening...
Houston Chronicle – The oil and natural gas industry practice of burning surplus gas from oil wells, or flaring, has reached levels...
By: Jack Money – The Oklahoman – Oklahomans are about to gain access to additional groundwater that can be used for industrial,...
Houston Chronicle — Clayton Williams, a colorful Texas oilman and philanthropist whose 1990 run for governor was derailed after joking about rape...
Casper Star Tribune – One bill up for debate during this year’s legislative session in Wyoming could be a game-changer for the...
(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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Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
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by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
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