Oil is up for a third straight session as traders weigh impact of tariffs and sanctions
Oil futures finished higher for a third straight session...
Oil futures finished higher for a third straight session on Tuesday, with U.S. and global prices marking their highest settlement in two weeks, as traders weighed the supply and demand impacts of President Donald’s Trump’s tariff strategy and sanctions on Iran and Russia.
West Texas Intermediate crude for March delivery rose $1, or 1.4%, to settle at $73.32 a barrel on the New York Mercantile Exchange.
April Brent crude the global benchmark, climbed $1.13, or 1.5%, to $77 a barrel on ICE Futures Europe. Front-month prices settled at their highest since Jan. 28
March gasoline tacked on 2.1% to $2.15 a gallon, while March heating oil added 2.6% to $2.51 a gallon.
Natural gasfor March delivery settled at $3.52 per million British thermal units, up 2.2%.
U.S. stocks finish mostly higher ahead of Wednesday's CPI inflation report
U.S. stocks finished mostly higher on Tuesday, as investors...
U.S. stocks finished mostly higher on Tuesday, as investors digested remarks from Federal Reserve Chair Jerome Powell suggesting little urgency for further interest-rate cuts and awaited the January CPI report due out Wednesday morning.
The Dow Jones Industrial Average rose 123.24 points, or 0.3% to finish at 44,593.65, according to FactSet data.
The S&P 500 ended nearly flat, at 6,068.50.
The Nasdaq Composite fell 70.41 points, or 0.4%, ending at 19,643.86.
Longer-term Treasury yields surged on Tuesday as investors reacted to Powell's first day of testimony before the Senate Committee on Banking, Housing and Urban Affairs.
The yield on the 10-year Treasury advanced 4.4 basis points to end at 4.536%, while the 30-year rate rose 4 basis points to 4.749%. Both were at their highest levels since Feb. 3, according to Dow Jones Market Data.
A new jobs report by the Energy Workforce & Technology...
A new jobs report by the Energy Workforce & Technology Council suggests Oklahoma lost nearly 1,600 jobs in the energy services sector in the past few months.
The decline of the jobs also reflected an overall downward adjustment of more than 7,300 positions compared to December 2024 across the nation.
Based on preliminary data from the Bureau of Labor Statistics (BLS) and analysis conducted by EWTC, total jobs in the sector were reported at 630,087.
Oklahoma fell from 49,546 in December 2024 to 47,950 in January, according to the Energy Workforce and Technology Council. The loss of energy jobs in Texas was far greater, falling from 317,266 in December to 307,042 last month.
Energy Transfer Signs First Deal to Supply Data Center with NatGas
Energy Transfer LP (ET) has signed its first commercial arrangement...
Energy Transfer LP (ET) has signed its first commercial arrangement to supply natural gas directly to a data center.
ET entered into a long-term agreement to provide natural gas to Denver-based CloudBurst Data Centers Inc.’s flagship AI-focused development in Central Texas, the companies said Feb. 10. Under the agreement, Energy Transfer’s Oasis Pipeline LP will provide up to 450,000 MMBtu/d of firm natural gas supply to CloudBurst’s Next-Gen Data Center campus outside of San Marcos, Texas.
The agreement is subject to CloudBurst reaching a final investment decision (FID) with its customer. CloudBurst expects to reach FID later this year with the facility operational in third-quarter 2026.
Trump scales back enforcement of law against bribing foreign...
Trump scales back enforcement of law against bribing foreign officials. It’s probably still not a good idea to go around bribing people, but President Trump signed an executive order pausing enforcement of the Foreign Corrupt Practices Act, saying it puts American companies at a disadvantage. The law, dating back to 1977, makes it illegal for US companies to bribe foreign government officials to score or keep business. The order directs the Justice Department to come up with revised enforcement guidelines, with the White House saying that the current rules bar US companies from behavior that’s common among international competitors.
Hamas said it would delay a hostage release scheduled to take place on Saturday “until further notice” after accusing Israel of violating their ceasefire deal. Meanwhile, President Trump said that Palestinians would have no right of return under his plans for US ownership and redevelopment of Gaza.
The Justice Department told prosecutors to drop the public corruption case against NYC mayor Eric Adams.
Jerome Powell will testify before Congress today and tomorrow for a semiannual update on the Fed.
A federal judge ruled that the Trump administration hadn’t fully complied with an order to unfreeze federal funds, saying the original order barred the administration’s halt of billions of dollars in National Institutes of Health grants.
Hyatt agreed to buy Playa Hotels for $2.6 billion to bulk up its all-inclusive offerings.
