Fuel Oil Oil Slumps About 5% as End to Libyan Dispute in Sight
Oil prices settled nearly 5% down on Tuesday at their...
Oil prices settled nearly 5% down on Tuesday at their lowest levels in nearly nine months on signs of a deal to resolve a dispute that has halted Libyan crude production and exports.
Brent crude futures closed down $3.77, or 4.9%, at $73.75 a barrel, their lowest level since Dec. 12. West Texas Intermediate crude futures (WTI) , which did not settle on Monday because of the U.S. Labor Day holiday, fell $3.21, or 4.4%, to $70.34 - also their lowest since December.
Brent closed down 0.3% last week, while WTI settled 1.7% lower.
Libya's legislative bodies have agreed to appoint a new central bank governor within 30 days after U.N.-sponsored talks, a statement signed by representatives of those bodies said on Tuesday.
Dow ends over 600 points lower as stocks suffer worst day since early August
U.S. stocks finished sharply lower on Tuesday, kicking...
U.S. stocks finished sharply lower on Tuesday, kicking off a historically tough month for the market. Investors assessed weak manufacturing data that reignited concerns over an economic slowdown.
According to preliminary data from FactSet, the Dow Jones Industrial Average fell 1.5% to end near 40,936.
The S&P 500 was off 2.1% to finish around 5,529.
The Nasdaq Composite tumbled 3.3%, ending near 17,136.
The three benchmark indexes suffered their worst day since the Aug. 5 market meltdown.
An attack by Yemen’s Houthi rebels targeted an oil tanker in the Red Sea on Monday, authorities said, as a second ship nearby also came under fire. Both attacks were near where crews hope to salvage a tanker loaded with oil and still ablaze after another assault by the group.
US NGL Market Tightens Links to Crude, NatGas Production
The shale boom coalesced the American market...
The shale boom coalesced the American market into an unprecedented shape. Never before have sectors been so closely linked, said an industry expert at an Aug. 28 East Daley Analytics webinar.
“Crude oil, natural gas and NGLs are linked together in ways in which they’ve never been in history,” said Rob Wilson, vice president of analytics at East Daley Analytics. “You cannot just focus on crude or gas.”
Over the last few years, the U.S. has taken the lead in producing all three hydrocarbons for the first time in history.
Russian Strike on Ukrainian City Kills at Least 41
A Russian missile...
A Russian missile strike in the eastern Ukrainian city of Poltava on Tuesday killed at least 41 people and injured another 180, President Volodymyr Zelensky said, in the latest in a series of devastating strikes on Ukrainian cities.
Two ballistic missiles hit a military educational institution in the city, Mr. Zelensky said, as well as a neighboring hospital, trapping people under the rubble. A search and rescue operation was underway.
