Oil climbs 2% to 2-week high on geopolitical tensions
Oil prices climbed about 2% on Tuesday to a two-week...
Oil prices climbed about 2% on Tuesday to a two-week high as persistent geopolitical tensions between Russia and Ukraine, and the U.S. and Iran, looked set to keep sanctions on both OPEC+ members, Russia and Iran, in place for longer.
Brent crude futures rose $1, or 1.5%, to settle at $65.63 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 89 cents, or 1.4%, to close at $63.41.
"Risk premium has ramped up this week as the prospect of a Russia/Ukraine ceasefire as well as an Iranian nuclear deal now appear to have been pushed back for weeks if not months," analysts at energy advisory firm Ritterbusch and Associates said in a note.
U.S. stocks end higher, with Nasdaq wiping out 2025 losses
The stock market closed higher Tuesday, with the technology-heavy...
The stock market closed higher Tuesday, with the technology-heavy Nasdaq Composite erasing its 2025 losses to join the S&P 500 in positive territory for the year.
The Dow Jones Industrial Average ended 0.5% higher [+214.16] on Tuesday, while the S&P 500 rose 0.6% [+34.43] and the Nasdaq Composite gained 0.8%, [+156.34] according to preliminary FactSet data. The Nasdaq is now up 0.5% so far in 2025.
The U.S. stock market climbed Tuesday as investors assessed fresh data showing job openings rose more than expected in April. The number of job openings in the U.S. increased to 7.4 million in April, exceeding the 7.1 million forecast by economists polled by the Wall Street Journal.
The Dow advanced for a fourth straight day but came up just shy of totally wiping out its 2025 losses, finishing Tuesday down 0.1% year to date, the preliminary FactSet data show. The S&P 500 booked back-to-back gains on Tuesday, increasing its climb so far in 2025 to 1.5%.
Tejon Treating and Carbon Solutions LLC has completed a significant expansion of its Mongoose amine treating plant and gas gathering network in West Texas, increasing its capacity to 70 million cubic feet per day. This upgrade includes new delivery points and full electrification of the plant, enhancing its ability to process sour gas from Midland basin producers and reduce emissions.
Sempra has secured final federal approval from the Energy Department for its planned Port Arthur liquefied natural gas export facility in Texas. The Biden administration previously paused approvals for new LNG projects pending an assessment of their impact on climate change.
The Department of Energy is to cancel $3.7 billion in grants awarded...
The Department of Energy is to cancel $3.7 billion in grants awarded to clean energy projects such as carbon capture and storage, Energy Secretary Chris Wright has announced. The grants, mostly awarded during President Joe Biden's final months in office, also supported cleaner cement and natural gas.
