Crude oil prices rebounded today with gains for the day including a $2...
Crude oil prices rebounded today with gains for the day including a $2 jump for crude oil. The nearly 3% gain in crude oil came about due to increased optimism over oil demand and U.S. debt ceiling negotiations, which also drove the stock market higher.
West Texas Intermediate crude rose $1.97 a barrel or 2.8% to $72.83 on the New York Mercantile Exchange.
Global benchmark Brent crude gained $2.05 or 2.7% and closed at $76.96 on ICE Futures Europe.
June natural gas fell 1 cent to $2.37 per 1,000 cubic feet.
Dow finishes up 400 points on optimism over debt-ceiling talks
U.S. stocks ended sharply higher Wednesday, as investors appeared...
U.S. stocks ended sharply higher Wednesday, as investors appeared encouraged by President Joe Biden’s remarks concerning the debt-ceiling debate. The Dow Jones Industrial Average DJIA closed around 400 points, or 1.2%, higher, while the S&P 500SPX, climbed 1.2% and the technology-heavy Nasdaq CompositeCOMP gained 1.3%, according to preliminary data from FactSet. “I’m confident that we’ll get the agreement on the budget, and America will not default,” Biden said Wednesday during a brief speech at the White House. Treasury Secretary Janet Yellen has warned the U.S. could run out of cash as soon as June 1 if Congress fails to raise the debt ceiling.
Canada’s Baytex Energy Corp. continues to make progress toward closing its acquisition of Eagle...
Canada’s Baytex Energy Corp. continues to make progress toward closing its acquisition of Eagle Ford E&P Ranger Oil Corp.
Baytex reported on May 15 that shareholders had approved the deal, a cash and stock transaction valued at $2.5 billion. Baytex said that the holders of 95.45% of shares voted in favor of the purchase, according to a press release.
Baytex said the merger is expected to close late in the second quarter of 2023 or early in the third quarter, subject to the satisfaction of customary closing conditions, including receipt of requisite regulatory approvals and Ranger shareholder approval.
Osaka Gas USA Corp. is expanding its solar footprint in North America, having agreed to purchase a 350-megawatt...
Osaka Gas USA Corp. is expanding its solar footprint in North America, having agreed to purchase a 350-megawatt solar project in Texas from European Energy subsidiary EE North America.
The sale is part of EE North America’s long-term growth strategy as the company works to become a “leading global force in promoting the green transition,” EE North America CEO Lorena Ciciriello said in a news release May 16.
Osaka, which focuses on power generation as well as LNG liquefaction and shale gas development, will take over development the solar project. It is expected to start operations in 2025, according to the news release.
US stock futures rise early Wednesday, as investors await an update on the progress...
US stock futures rise early Wednesday, as investors await an update on the progress of talks between congressional leaders and President Joe Biden on the US debt ceiling.Check out the latest market moves.
Earnings on deck: Cisco, Target, and Deutsche Bank, all reporting.
