Oil approaches one-month highs as investors assess supply, trade war risks
[NEW YORK] Oil prices increased on Thursday as traders...
[NEW YORK] Oil prices increased on Thursday as traders assessed a tightening of crude supplies and new US tariffs and their expected effect on the world’s economy.
Brent crude futures gained 24 cents, or 0.3 per cent, to settle at US$74.03 a barrel. US West Texas Intermediate crude futures rose 27 cents to US$69.92. On Wednesday, oil prices rose about 1 per cent to their highest since February.
Market participants were weighing escalating trade war risks. US President Donald Trump unveiled his plan on Wednesday to implement 25 per cent tariffs on imported cars and light trucks, effective next week, while those on auto parts begin on May 3.
“The biggest headwind for oil right now is the concern about tariffs, which might slow demand,” said Phil Flynn, senior analyst with Price Futures Group.
On Tuesday, Trump imposed new 25 percent tariffs on potential buyers of Venezuelan crude oil.
U.S. stocks end lower as investors weigh Trump tariffs, Friday’s inflation data
U.S. stocks ended lower Thursday, after struggling for...
U.S. stocks ended lower Thursday, after struggling for direction as investors focused on new automobile tariffs and waited on Friday's release of the Federal Reserve's preferred inflation gauge.
The blue chip Dow Jones Industrial Average ended about 155 points, or 0.4%, near 42,229, according to preliminary data.
The S&P 500 closed about 0.3% lower.
The Nasdaq Composite ended down 0.5%.
U.S. auto stocks fell sharply, including shares of Ford Motor Co., General Motors Co. and Stellantis, while those of Tesla Inc. gained.
Private equity firms and lenders are flush with cash for oil and natural...
Private equity firms and lenders are flush with cash for oil and natural gas assets, but deal-making opportunities remain elusive following industry consolidation, according to industry leaders. Sellers, especially in high-demand plays like the Permian Basin, are reluctant to part with inventory, leaving investors to hunt for smaller deals and pursue creative capital deployment strategies.
Tech innovations tackle Texas' produced water problem
Texas is investing heavily in promising solutions to turn the vast volumes...
Texas is investing heavily in promising solutions to turn the vast volumes of produced water from oil and gas operations into a reusable supply to address water shortages, but treatment requires massive amounts of energy. Natura Resources has proposed deploying molten salt nuclear reactors to provide the heat needed for treatment, while Texas Pacific Water Resources is building a gas-powered pilot plant that relies on thermal desalination to purify the brine.
Court sides with Alaska in dispute over ANWR leases
Judge Sharon Gleason of the US District Court for the...
Judge Sharon Gleason of the US District Court for the District of Alaska has reversed a Biden administration decision to cancel seven oil and natural gas leases in Arctic National Wildlife Refuge, citing a 2017 tax law that reserves that authority for courts. The ruling, applauded by Alaska Gov. Mike Dunleavy, aligns with President Donald Trump's executive order to reinstate the leases.
