Oil prices climb on hurricane impact ahead of U.S. rate decision
Oil prices rose on Monday as the ongoing impact of Hurricane Francine on output in the...
Oil prices rose on Monday as the ongoing impact of Hurricane Francine on output in the U.S. Gulf of Mexico offset persistent Chinese demand concerns ahead of this week's U.S. Federal Reserve interest rate cut decision.
Brent crude futures for November settled at $72.75 a barrel, up $1.14, or 1.59%. U.S. crude futures for October settled at $70.09, up $1.44, or 2.1%.
"We've still got the remnants of the storm," said Matt Smith, lead oil analyst at Kpler. "The impact is more on the production side than on refining. Therefore, it leans a little bit bullish."
More than 12% of crude production and 16% of natural gas output in the U.S. Gulf of Mexico remained offline in the aftermath of Hurricane Francine, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) said on Monday.
Apollo to Buy $1B Stake in BP’s Trans Adriatic Pipeline
BP agreed to sell its 20% stake in the Trans...
BP agreed to sell its 20% stake in the Trans Adriatic Pipeline AG (TAP) to Apollo-managed funds in a $1 billion transaction.
Apollo will purchase the non-controlling interest from BP subsidiary BP Pipelines TAP Ltd. Upon completion of the deal, BP will remain the controlling shareholder of BP Pipelines TAP.
TAP is a Swiss joint venture owned by BP (20%), SOCAR (20%), Snam (20%), Fluxys (20%) and Enagás (20%).
Dow closes at record high as expectations grow for jumbo Fed interest-rate cut
U.S. stocks ended mixed on Monday, as traders’ expectations...
U.S. stocks ended mixed on Monday, as traders’ expectations for the Federal Reserve to deliver a 50-basis-point rate cut on Wednesday continued to grow.
The Dow Jones Industrial Average ended roughly 0.6% higher to a new record close, according to preliminary closing data from FactSet.
California snow advisory for Sierra Nevada is earliest in 20 years
California issued its earliest snow advisory in the past 20 years with...
California issued its earliest snow advisory in the past 20 years with an alert early this week for residents in the Sierra Nevada, according to the National Weather Service.
From Sunday to Monday, areas of the Sierra Nevada above 8,000 feet can expect some snow as a trough, a region of low atmospheric pressure, brings between a 35% to 65% probability of 2 inches of snow or more.
Legislator wants driver’s card for undocumented immigrant workers in Oklahoma
In a move that could affect the Oklahoma energy industry, an Oklahoma...
In a move that could affect the Oklahoma energy industry, an Oklahoma City legislator plans to try again to create a law to force working immigrants to obtain a license to drive in the state legally.
Sen. Michael Brooks, a Democrat, announced he will refile legislation for the 2025 legislative session. His move comes after a report by Gov. Kevin Stitt’s Oklahoma State Work Permits and Visas Task Force also recommended that the state issue a “driver’s privilege card” for undocumented immigrants.
