Oil ends week higher as investors take stock of Fed rate cut
Oil prices settled lower on Friday but recorded a second straight week...
Oil prices settled lower on Friday but recorded a second straight week of gains, garnering support from a U.S. interest rate cut and a dip in U.S. supply.
Brent futures settled down 39 cents, or 0.52%, at $74.49 a barrel. U.S. WTI crude futures settled down 3 cents, or 0.4%, to $71.92.
Signs of a slowing economy in major commodity consumer China gave prices a ceiling. However, both benchmarks settled up more than 4% for the week.
Prices have recovered after Brent fell below $69 for the first time in nearly three years on Sept. 10.
Dow rises to record high as stocks book weekly gains after Fed rate cut
The Dow Jones Industrial Average closed modestly higher...
The Dow Jones Industrial Average closed modestly higher Friday to notch a fresh record high, as major U.S. stock benchmarks booked weekly gains in the wake of the Federal Reserve’s large interest-rate cut on Wednesday.
The Dow Jonesrose 38.17 points,or 0.1%, to close at 42,063.36.
The S&P 500slipped 11.09 points, or 0.2%, to finish at 5,702.55.
The Nasdaq Compositefell 65.66 points, or 0.4%, to end at 17,948.32.
For the week, the Dow rose 1.6%, the S&P 500 climbed 1.4% and the technology-heavy Nasdaq advanced 1.5%. All three benchmarks logged back-to-back weekly gains and are now up in September.
The Dow has a monthly gain of 1.2%, while the S&P 500 has risen 1% so far this month, and the Nasdaq has climbed by 1.3% this month to date.
EQT CEO: LNG demand could drive gas output recovery
Natural gas prices will stay below $3 per million British thermal unit...
Natural gas prices will stay below $3 per million British thermal unit in the near term, but rising demand could prompt producers to restore output next year, EQT CEO Toby Rice predicted at the Gastech conference. Highlighting the importance of gas for LNG exports and power generation, Rice emphasized that market forces, not politics, should decide the energy mix.
Vitol sees Asia leading demand for new US LNG supply
The wave of new US liquefied natural gas supply set to hit markets by...
The wave of new US liquefied natural gas supply set to hit markets by 2028 will likely flow primarily to Asia rather than Europe, Vitol CEO Russell Hardy predicted. New applications in shipping and transportation will fuel LNG demand growth, particularly in China and India, where LNG-powered trucks are rapidly gaining market share.
Israel and Hezbollah trade strikes as the possibility of a wider war increases
Shortly after 37 people in Lebanon were killed and thousands of others...
Shortly after 37 people in Lebanon were killed and thousands of others injured by exploding pagers and walkie-talkies in attacks attributed to Israel, Hezbollah leader Hassan Nasrallah vowed retribution and said the aggression amounted to a “declaration of war.” While Nasrallah spoke, two sonic booms echoed across Beirut in an apparent show of force by Israel. Nasrallah said that Hezbollah, which has repeatedly fired rockets into northern Israel in support of Hamas, will continue attacking until the war in Gaza ends. Experts are worried that the escalating exchanges of rockets and gunfire between Israel and Hezbollah could pull in their respective allies, the US and Iran.
