Swelling profits helped shale producers reduce debt loads and bolster their cash reserves in the second...
Swelling profits helped shale producers reduce debt loads and bolster their cash reserves in the second quarter, Bloomberg data show, providing companies with more capital to fund dividends, share buybacks and acquisitions. "Energy companies have come a long way toward repairing and reinforcing their balance sheets and are in a much stronger position today to handle another downturn in commodity prices than they were going into the 2015 or 2020 crashes," said Bloomberg Intelligence analyst Spencer Cutter.
U.S. stocks lose ground as China stirs global slowdown fears
U.S. stocks lost ground early Monday morning, under pressure as weak China data underlined...
U.S. stocks lost ground early Monday morning, under pressure as weak China data underlined concerns over the global growth outlook and investors paused for breath after last week extending a bounce off mid-June lows.
The Dow Jones Industrial Average DJIA, -0.10% fell 54 points, or 0.2%, to 33,708.
The S&P 500 SPX, -0.25% was off 14 points, or 0.3%, at 4,267.
The Nasdaq Composite COMP, -0.22% lost 33 points, or 0.3%, to trade at 13,014.
The S&P 500 advanced 3.3% last week, its fourth straight weekly gain and longest such winning streak since November. The Dow rose 2.9% last week, while the Nasdaq Composite gained 3.1%
Empire State factory index has fallen further into negative territory in August
The numbers: The New York Fed’s Empire State business conditions index, a gauge of...
The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 42.4 points to a negative 31.3 in August, the regional Fed bank said Monday.
This is the second largest monthly decline on record and among the lowest levels in the survey’s history, the regional Fed bank said.
Economists had expected a reading of 5.0, according to a survey by The Wall Street Journal.
Any reading below zero indicates deteriorating conditions
Petrobras Cuts Refinery Diesel Prices Again, Puts Amazon Basin Potash Rights On Sale
Brazilian state-run Petroleo Brasileiro (NYSE: ...
Brazilian state-run Petroleo Brasileiro (NYSE: PBR), also known as Petrobras, will lower refinery gate diesel prices by almost 4% from today, marking the second cut in a week after a drop in international prices.
The company said it would cut diesel prices to 5.19 reais ($1.01) from 5.41 reais, while gasoline prices were kept unchanged.
Brazil's Petroleo Brasileiro (NYSE: PBR), also known as Petrobras, said it has begun looking for bidders for its potassium mining rights in the Amazon basin.
The asset is composed of eight mining concessions, four mining requests already granted, and 22 requests for research that are still pending authorization, a total of 34 mining titles.
Permian Basin oil permit issuance up over 20% in July
The total number of drilling permits issued for the Permian Basin during July increased to 1,526 –...
The total number of drilling permits issued for the Permian Basin during July increased to 1,526 – up 273 or nearly 22% – driven by the rising price of West Texas Intermediate crude. The Basin now accounts for some 40% of all permits issued in the US, while the Texas Eagle Ford shale play makes up 13%, Evercore analysts wrote in a note.
