Benchmark U.S. crude oil for June delivery rose 44 cents to $71.99 a barrel Monday. Brent crudefor July delivery rose 41 cents to $75.99 a barrel.
Wholesale gasoline for June delivery rose 7 cents to $2.65 a gallon. June heating oilrose 1 cent to $2.37 a gallon. June natural gasfell 19 cents to $2.40 per 1,000 cubic feet.
Dow ends down over 100 points as Nasdaq notches new 2023 high
U.S. stocks closed mixed Monday as investors monitored the debt-ceiling...
U.S. stocks closed mixed Monday as investors monitored the debt-ceiling showdown in Washington.The S&P 500SPX finished about flat, while the technology-heavy Nasdaq Composite COMP advanced 0.5% and the Dow Jones Industrial AverageDJIA fell 0.4%, according to preliminary data from FactSet. President Joe Biden and House Speaker Kevin McCarthy were scheduled to meet at 5:30 p.m. Eastern Time on Monday to negotiate raising the U.S. debt ceiling. Treasury Secretary Janet Yellen has warned that the U.S. could run out of cash to pay all of its bills as soon as June 1 if Congress doesn’t lift the country’s borrowing limit.
Chord Acquires Williston Basin Acreage in $375 Million Deal
Chord Energy Corp. has strengthened its position in the Williston Basin with an agreement to...
Chord Energy Corp. has strengthened its position in the Williston Basin with an agreement to acquire core acreage from Exxon Mobil Corp. subsidiary XTO Energy Inc. and affiliates for $375 million cash.
The acquisition was announced on May 22 as Chord sheds non-core acreage outside the basin.
The nearly one-year-old company, formed by a merger of Whiting Petroleum and Oasis Petroleum in 2022, will add about 62,000 acres—of which about three-quarters is undeveloped—within or adjacent to its near-term development program, the company said in a news release.
Oil majors offer a reality check on the energy transition
The world is not on track to achieve net-zero emissions...
The world is not on track to achieve net-zero emissions by 2050, the risk of stranded oil and natural gas assets is overblown and profitability remains a key driver of renewable project investment, ExxonMobil and Shell said in recent statements, debunking prevalent myths surrounding the energy transition. Their comments shed light on the realities of the ongoing energy transition and underscore the need for a more nuanced understanding of the energy landscape, writes energy policy analyst David Blackmon.
With Bakhmut in Ruins, Ukraine Shifts Focus to City’s Outskirts
Russian forces are engaged in “mopping up” operations to clear the remaining Ukrainian soldiers from...
Russian forces are engaged in “mopping up” operations to clear the remaining Ukrainian soldiers from the ruins of Bakhmut, a senior Ukrainian official said on Monday, as Kyiv’s military commanders seek to shift the focus from their apparent loss of the city to the battle for its outskirts.
The commander of Ukraine’s ground forces, Gen. Oleksandr Syrsky, conceded over the weekend that only a small contingent of Ukrainian soldiers is now inside Bakhmut, a tacit acknowledgment that Russia had prevailed in its nearly yearlong campaign to seize the city.
