Despite recent declines in refining margins and pump prices, US refiners Valero Energy, Marathon Petroleum...
Despite recent declines in refining margins and pump prices, US refiners Valero Energy, Marathon Petroleum and ExxonMobil maintain an optimistic outlook. They anticipate that weakening margins in Asia and Europe, coupled with lower natural gas prices, sustained fuel demand and the upcoming summer driving season, will boost US crack spreads.
Warren Buffett will preside over Berkshire Hathaway’s 59th ...
Warren Buffett will preside over Berkshire Hathaway’s 59th annual shareholders meeting today—an event expected to draw a large crowd to Omaha, Nebraska. Everyone will be watching to see what Buffett has to say about the economy, the state of the banking sector, his big bet on Apple, and his struggling “favorite child,” Geico. Shareholders will also vote on six proposals on climate change, political advocacy, and the firm’s leadership, all of which Buffett opposes.
King Charles III has been crowned at Westminster Abbey in London, in a lavish ceremony not seen for seven decades.
LONDON — Britain’s Charles III was crowned king on Saturday, during an eighth-century ritual in a...
LONDON — Britain’s Charles III was crowned king on Saturday, during an eighth-century ritual in a 21st-century metropolis with a handful of concessions to the modern age but the unabashed pageantry of a fairy tale, unseen since the coronation of Queen Elizabeth II, his mother, in 1953.
US weekly oil & gas rig count falls by the most since February
May 5 (Reuters) -...
May 5 (Reuters) - U.S. energy firms cut the most oil and natural gas rigs in a week since February, energy services firm Baker Hughes Co said in its closely followed report on Friday.
The total North American oil and gas rig count, an early indicator of future output, fell by seven to 748 in the week to May 5.
Despite this week’s rig decline, Baker Hughes said the total count was still up 43 rigs, or 6%, over this time last year.
Oil rigs fell by three to 588 this week, in their biggest weekly decline since March. Gas rigsfell by four to 157, their biggest weekly decline since February.
Stocks closed broadly higher Friday following a positive jobs report
U.S. stocks snapped a four-day losing streak on Friday as a rebound...
U.S. stocks snapped a four-day losing streak on Friday as a rebound in shares of beaten-down regional banks along with sharp gains in shares of Apple Inc. sent the main indexes sharply higher.
The Dow ended the session up around 547 points, or 1.7%, near 33,674, according to preliminary figures, while the S&P 500 jumped 1.9% and the Nasdaq Composite bounced 2.3%.
However, Friday’s gains weren’t enough to wipe out weekly losses for the S&P 500 and Dow, which saw their biggest weekly pullbacks since the week ended March 10, falling 0.8% and 1.2%, respectively, according to preliminary closing data from FactSet. The Nasdaq Composite eked out a marginal weekly gain of 0.1%.
