Oil prices dip to settle at 3-week low on US and China economic concerns
(Reuters) - Oil prices eased on Friday and settled at...
(Reuters) - Oil prices eased on Friday and settled at a three-week low as traders worried about negative economic news from the U.S. and China and signs of growing supply.
Losses were limited by optimism U.S. trade deals could boost global economic growth and oil demand in the future.
Brent crude futures fell 74 cents, or 1.1%, to settle at $68.44, while U.S. West Texas Intermediate (WTI) crude fell 87 cents, or 1.3%, to settle at $65.16.
Those were the lowest settlement levels for Brent since July 4 and WTI since June 30. For the week, Brent was down approximately 1%, with WTI down around 3%.
In China, the world's second-largest economy, fiscal revenue declined 0.3% in the first six months compared to the same period a year earlier, the finance ministry said, maintaining the rate of decline seen between January and May.
Dow ends up over 200 points, S&P 500 and Nasdaq close at record highs again
The U.S. stock market ended higher Friday, with the S&P...
The U.S. stock market ended higher Friday, with the S&P 500 finishing the week by notching a fifth straight record peak.
The S&P 500 closed 25.29 points higher, or 0.4%, at 6,388.64.
The Nasdaq Composite increased 50.36 points, or 0.2%, to end at 21,108.32 points, also scoring a fresh record high.
The Dow Jones Industrial Average gained 208.01 points, or 0.5%, to finish at 44,901.92.
The market closed on an upbeat note as investors weighed remarks that the president of the European Commission posted Friday on X about a “good call” with President Donald Trump ahead of a meeting in Scotland on Sunday to discuss trade relations.
All three major U.S. equities benchmarks rose on the week, with the S&P 500 and technology-heavy Nasdaq each booking back-to-back weekly gains while the Dow snapped back-to-back weekly declines, according to Dow Jones Market Data. The S&P 500 climbed 1.5%, while the Nasdaq saw a weekly rise of 1% and the Dow advanced 1.3% for the week.
Chord Marketing Non-Op Gas Assets in Marcellus Core
Chord Energy is gauging market interest for non-operated...
Chord Energy is gauging market interest for non-operated Marcellus Shale interests it acquired from Enerplus last year.
Chord is working with investment bank and advisory Moelis & Co. to market the Marcellus package in northeast Pennsylvania, sources told Hart Energy under the condition of anonymity.
The legacy Enerplus assets include approximately 33,000 net acres in the Marcellus dry gas play. Net production from the Marcellus assets averaged 128.5 MMcf/d in the first quarter, Chord said.
Expand Energy, one of Appalachia’s largest bellwether producers, serves as the operator for most of the Marcellus assets, according to multiple sources.
Based on recent Marcellus transactions, Chord’s non-op package could potentially fetch around $500 million in a sale, according to an Energy Advisors Group (EAG) analysis.
Merger would create a new transcontinental US railroad
A single megarailway might soon connect the land of Wawa to In-N-Out...
A single megarailway might soon connect the land of Wawa to In-N-Out country. The biggest freight railroad in the country, Union Pacific, and fellow rail giant Norfolk Southernconfirmed reports yesterday that they are in advanced talks to form America’s first ocean-to-ocean railway.
Union Pacific says that merging into a $200 billion behemoth would make shipping goods between the Eastern and Western US more efficient, as they wouldn’t have to be transferred between tracks run by different companies.
However, a deal would likely face regulatory hurdles as well as potential opposition from labor unions and companies that ship their goods by rail, who are concerned that it would diminish competition and increase freight prices.
Hulk Hogan died at 71. The Hall of Fame wrestler ...
Hulk Hogan died at 71. The Hall of Fame wrestler died of cardiac arrest yesterday about two months after undergoing spinal fusion surgery. Considered the greatest professional wrestler of all time, Hogan, whose real name was Terry Bollea, signed with the WWE (then the WWF) in 1983, going on to win six championships. He also had a prolific acting career, playing the role of “Thunderlips” in Rocky III and appearing as himself in countless films and TV shows. In 2015, he was briefly dropped by WWE following reports that he had used racial slurs in a leaked sex tape. A year later, he was awarded $115 million after suing Gawker Media, which had published a snippet of the leaked tape, for invasion of privacy. Hogan also spoke at the 2024 Republican National Convention, where he endorsed President Trump before ripping his shirt off.
The US and Israel recalled their teams from Gaza ceasefire talks, accusing Hamas of not negotiating in good faith. In a joint statement, several human rights groups warned of “mass starvation” across the territory due to Israel’s restrictions on aid.
The FCC formally approved Skydance’s $8 billion merger with Paramount, putting David Ellison in charge of CBS, Paramount Pictures, and other media properties.
Thailand allegedly launched airstrikes on Cambodian military targets as tensions escalate over a longstanding border dispute.
Lyft announced it will allow users to block specific drivers or “favorite” them to increase the chances of getting matched for a ride.
