Shell to Exit European Home Retail Energy Businesses
Shell said on June 6 that it had decided to exit its home retail energy businesses in Britain, Germany...
Shell said on June 6 that it had decided to exit its home retail energy businesses in Britain, Germany and the Netherlands due to their poor returns.
Shell launched a strategic review of its European retail businesses in January, shortly after Chief Executive Officer Wael Sawan took office.
"That review has now concluded and as a consequence, we intend to exit those businesses. A sales process is already underway, with the intent to reach an agreement with a potential buyer in the coming months," Shell said in a statement.
Benchmark U.S. crude oil for July delivery rose...
Benchmark U.S. crudeoil for July delivery rose 41 cents to $72.15 a barrel Monday. Brent crude for August delivery rose 58 cents to $76.71 a barrel.
Wholesale gasoline for July delivery rose 2 cents $2.52 a gallon. July heating oil rose 2 cents to $2.38 a gallon. July natural gasrose 8 cents to $2.25 per 1,000 cubic feet.
Dow industrials finish down 200 points as stocks close lower
U.S. stocks closed lower on Monday, failing to extend robust...
U.S. stocks closed lower on Monday, failing to extend robust gains from last week, as technology shares pull back from 2023 highs.
The Dow Jones Industrial Average just shy of 200 points on Monday, or 0.6%, ending near 33,562, according to preliminary FactSet data. That was near the session’s low. The S&P 500index shed 0.2%, giving up earlier gains needed to qualify as having exited bear-market territory. The Nasdaq Composite Index ended 0.1% down.
Recent gains have largely come from a small group of technology shares, which have powered the overall stock market higher. Among the group is Apple Inc., which saw shares briefly touch a new intraday trading record on Monday. It lost its grip, however, on those gains in roughly the last hour of trade, ending the session down 1.1%, according to FactSet.
Despite the surge in travel over the long Memorial Day weekend, the national...
Despite the surge in travel over the long Memorial Day weekend, the national average for a gallon decreased by one cent since last week to $3.56 per gallon. In Oklahoma, the gas average is $3.22, down two cents in the last week and $1.04 lower one year ago.
According to new data from the Energy Information Administration (EIA), gas demand decreased from 9.43 to 9.1 million b/d last week. Lower demand has helped to cap increases in pump prices. Meanwhile, total domestic gasoline stocks dropped slightly to 216.1 million bbl. If gas demand declines, drivers will likely see pump prices fall.
Higher gas prices could be ahead after latest Saudi oil production cut
American drivers could be staring another jump in gasoline prices...
American drivers could be staring another jump in gasoline prices in the face and it is coming just as the summer driving season is here.
Saudi Arabia announced another cut in oil production, meaning it will be sending less oil to the global economy. In turn, the move is seen as an effort to prop up sagging crude oil prices.
The latest oil cut of 1 million barrels a day will begin in July as reported by MarketWatch.
