Colombia’s Energy Minister Irene Vélez-Torres Resigns
Colombia’s mines and energy minister Irene Vélez-Torres resigned from the ministry on July 19, citing...
Colombia’s mines and energy minister Irene Vélez-Torres resigned from the ministry on July 19, citing investigations against her use of power.
The minister’s resignation comes as Colombia’s energy sector struggles to boost investments, hydrocarbon reserves, and production as both its oil and gas reserves are set to run out in less than eight years at current production levels, according to Colombia’s National Hydrocarbon Agency (ANH).
Benchmark U.S. crude oil for August delivery rose 28 cents to $75.63 a barrel Thursday. Brent crudefor September delivery rose 18 cents to $79.64 a barrel.
Wholesale gasoline for August delivery rose 2 cents $2.74 a gallon. August heating oilrose 2 cents to $2.66 a gallon. August natural gas rose 16 cents to $2.76 per 1,000 cubic feet.
Dow posts longest winning streak in nearly 6 years; Nasdaq slumps over 2%
U.S. stocks finished mostly lower Thursday, with the...
U.S. stocks finished mostly lower Thursday, with the Nasdaq and S&P 500 dragged down by disappointing earnings, while the Dow Jones Industrial Average rose for a ninth straight day for its longest winning streak in nearly six years.
The S&P 500 SPX fell 30.85 points, or 0.7%, to close at 4,534.87.
The Dow DJIA rose 163.97 points, or 0.5%, to finish at 35,225.18. The winning streak is its longest since a nine-day run that ended on Sept. 20, 2017, according to Dow Jones Market Data.
The Nasdaq Composite COMP ended at 14,063.31, down 294.71 points, or 2.1%.
The US bought around 825,000 barrels per day of Mexico's heavy...
The US bought around 825,000 barrels per day of Mexico's heavy Maya sour crude in June, the highest volume since November 2015, and is set to import another roughly 770,000 bpd this month,according to data. Rising global demand for sour crudes in the wake of OPEC+ production cuts has heightened interest in Mexico's oil grades, offering the US a strategic advantage due to its geographical proximity to the country.
The severance tax debate has resurfaced in Pennsylvania after...
The severance tax debate has resurfaced in Pennsylvania after the state House approved a resolution directing a nonpartisan committee to examine severance tax structures in other gas-producing states.While advocates argue for the merits of a severance tax on gas production, the American Petroleum Institute of Pennsylvania opposes any additional taxes on the natural gas industry, emphasizing the need for policies that promote economic competitiveness and attract investment.
