Benchmark U.S. crude oil for December delivery fell 82 cents to $91.79 a barrel Monday. Brent crude for January delivery fell 65 cents to $97.92 a barrel.
Wholesale gasoline for December delivery fell 8 cents to $2.65 a gallon. December heating oilfell 13 cents to $3.78 a gallon. December natural gasrose 54 cents to $6.94 per 1,000 cubic feet.
Berkshire Hathaway Could Boost Earnings after Occidental Accounting Change
Warren Buffett's Berkshire Hathaway Inc could soon see a boost to its bottom line after changing its accounting for its big stake in Occidental Petroleum Corp.
In its quarterly report on Saturday, Berkshire said it adopted the equity method of accounting for its 20.9% stake in Occidental, which is worth more than $14 billion.
Berkshire plans, starting in the fourth quarter, to report its share of the Houston-based company's results with its own, with a one-quarter lag.
Dow ends up more than 400 points as midterm elections loom
U.S. stocks closed higher Monday, with the blue-chip gauge Dow...
U.S. stocks closed higher Monday, with the blue-chip gauge Dow Jones Industrial Average leading the way up ahead of midterm elections. The Dow DJIA, +1.31% climbed around 426 points, or 1.3%, while the S&P 500 SPX, +0.96% gained 1% and the technology-laden Nasdaq Composite COMP, 0.85% rose 0.9%, according to preliminary FactSet data. Americans will vote Tuesday in midterm elections that are being closely watched as Democrats and Republicans battle for control of Congress.
Iranian Oil Pipeline Catches Fire As Mass Protests Continue
A fire erupted at an oil pipeline in the southwest of Iran this weekend in an incident authorities are...
A fire erupted at an oil pipeline in the southwest of Iran this weekend in an incident authorities are still investigating amid continued anti-government protests and clashes in the country following the death of Mahsa Amini, who was arrested by the morality police.
According to Iranian media and videos shared on Twitter, an oil pipeline in the southwestern Iranian port city of Bandar Mahshahr caught fire on Sunday, the Jerusalem Post reported, noting that neither the regime nor semiofficial media in Iran had reported that sabotage may have caused the fire.
October brought yet another record in Oklahoma’s...
October brought yet another record in Oklahoma’s tax collections to the state treasury.
State Treasurer Randy McDaniel reported the receipts for the past 12 months topped the previous record high of $17 billion by more than $200 million. Part of it came from oil and gas gross production taxes which saw revenue increase 92%.
Just for October alone, gross production taxes on oil and natural gas total $197.7 million, an increase of $91.9 million, or 86.9 percent.
