Oil settles down 7% after Iran attacks US military base in Qatar, not tankers
(Reuters) - Oil prices settled down more than 7% on Monday,...
(Reuters) - Oil prices settled down more than 7% on Monday, losing more than $5 a barrel after Iran took no action to disrupt oil and gas tanker traffic through the Strait of Hormuz, but instead attacked a U.S. military base in Qatar in retaliation for U.S. attacks on its nuclear facilities.
Brent crude futures closed down $5.53, or 7.2%, at $71.48 a barrel, while U.S. West Texas Intermediate crude (WTI) eased $5.33, or 7.2%, to $68.51.
Brent's 7.2% drop was the steepest since August 2022. The benchmark traded in a $10 range, the widest since July 2022.
Both benchmarks were down nearly 9% in after-hours trading.
"Oil flows for now aren't the primary target and are likely not to be impacted, I think it's going to be military retaliation on U.S. bases and/or trying to hit more of the Israeli civilian targets," said John Kilduff, a partner at Again Capital.
Oil fell sharply after Iran retaliated against U.S. airstrikes on its main nuclear sites with a missile attack on the Al Udeid U.S. airbase in Qatar, the largest U.S. military installation in the Middle East. No U.S. personnel were killed or injured in Iran's attack, two U.S. officials told Reuters.
U.S. stocks end on strong gains as investors brush off Iran's retaliatory strike
U.S. stocks ended higher after volatile swings on Monday,...
U.S. stocks ended higher after volatile swings on Monday, after Iran launched missiles at a U.S. military base in Qatar — though reports said Iran gave advanced warnings. At the same time, no U.S. personnel were killed or injured in the attack.
The Dow Jones Industrial Average went up 374.96 points or 0.9% to end at 42,581.78 for back-to-back gains, according to the Dow Jones Market Data.
The S&P 500 rose 57.33 points or 1% to finish at 6,025.17, snapping a three-day losing streak.
The Nasdaq Composite gained 183.56 points or 0.9% to close at 19,630.97.
Thunder win N.B.A. championship in Game 7 against Pacers
OKLAHOMA CITY — The Oklahoma City Thunder are now authors of one of...
OKLAHOMA CITY — The Oklahoma City Thunder are now authors of one of the greatest seasons in NBA history after narrowly avoiding a stunning upset with the opponent’s best player first hobbled, then seriously injured.
The Thunder won the franchise’s second championship — and first since it moved to Oklahoma City from Seattle in 2008 and rebranded from the SuperSonics to the Thunder — by capturing Game 7 of the NBA Finals over the Indiana Pacers 103-91 on Sunday.
RRC Orders Blackbuck's Disposal Well to Close Over Earthquake Fears
The Texas Railroad Commission (RRC) revoked the permit of a Delaware...
The Texas Railroad Commission (RRC) revoked the permit of a Delaware Basin water disposal well last week, following a three-year battle with Blackbuck Resources, the well’s owner.
The revocation came after the commission called for an emergency suspension of the well’s operations on May 13, after a record 5.4-magnitude earthquake for the region struck West Texas 10 days earlier, according to a Houston Chronicle report.
The May 13 order forced Blackbuck to halt operations for at least 15 days, after which the company closed the site. The latest order permanently closes the site. Blackbuck can appeal the decision in a state court.
Dangerous temperatures are expected to blanket the eastern US this week, with new records anticipated from Illinois to Maine. Ninety-eight major cities are expected to see dangerous levels of heat this week, with the mercury easily topping 100 degrees Fahrenheit in Memphis, Baltimore, Pittsburgh, and Burlington, VT. Temperatures in New York and New England will be about 20 degrees above average, though humidity will make things feel even hotter.
