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Elliott Investment Management, a prominent activist investor, has recently acquired a $1 billion stake in Phillips 66, a major player in the...
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Story Credit: Andreas Exarheas |RigZone.com|The U.S. Energy Information Administration (EIA) increased its Henry Hub price forecasts for 2023 and 2024 in its...
The Biden Administration on Tuesday announced the successful sale of oil and gas drilling rights in Wyoming, generating $3.4 million. This sale...
The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, are currently considering deepening their oil production cuts....
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By: Reuters – Venezuela is currently producing some 850,000 barrels per day (bpd) of oil and hopes to soon reach 1 million...
Oil futures finished Monday with a gain after President Trump slapped tariffs on Canada, Mexico and China over the weekend, sparking worries over U.S. crude imports. Upside was limited, however, by concerns that a trade war would dent demand.
At a regularly scheduled meeting on Monday, ministers from members of OPEC+ — made up of the Organization of the Petroleum Exporting Countries and its allies — left its existing oil production plans unchanged, even as Trump last month called on the group to lower oil prices.
West Texas Intermediate crude for March delivery rose 63 cents, or 0.9%, to settle at $73.16 a barrel on the New York Mercantile Exchange after trading as high as $75.18.
April Brent crude , the global benchmark, tacked on 29 cents, or 0.4%, to $75.96 a barrel on ICE Futures Europe.
Back on Nymex, March gasoline climbed 2.9% to $2.12 a gallon, while March heating oil gained 2.7% to $2.46 a gallon.
March natural gas surged 10.1% to $3.35 per million British thermal units, after posting a gain of nearly 12% last week.
U.S. stocks ended lower, but recovered from their session lows, after President Trump said on Monday that he would pause imposing new tariffs on Mexico for a month, though tariffs on China and Canada will stil take effect on Tuesday.
The Dow Jones Industrial Average went down 122.75 points or 0.28% to close at 44421.91, according to FactSet data.
The S&P 500 declined 45.96 points or 0.8% to finish at 5,994.57.
The Nasdaq Composite fell 235.49 points or 1.20% to end at 19,391.96.
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