Oil prices settle up at 2-week high as US, China ease tariffs
(Reuters) - Oil prices rose about 1.5% to settle at a...
(Reuters) - Oil prices rose about 1.5% to settle at a two-week high on Monday, after the U.S. and China agreed to temporarily slash tariffs, raising hopes of an end to the trade war between the world's two biggest economies.
Brent crude futures rose $1.05, or 1.6%, to $64.96 a barrel. U.S. West Texas Intermediate (WTI) crude gained 93 cents, or 1.5%, to settle at $61.95.
Both benchmarks notched their highest settlements since April 28.
U.S. stocks end sharply higher as U.S.-China trade tension eases
U.S. stocks traded sharply higher on Monday after the...
U.S. stocks traded sharply higher on Monday after the U.S. and China reached a deal to slash tariffs on each other for 90 days.
The Dow Jones Industrial Average went up 1,160.72 points or 2.8%, ending at 42,410.10.
The S&P 500 gained 184.28 points or 3.3% to finish at 58,444.19
The Nasdaq Composite rose 779.43 points or 4.4% to close at 18,708.34 for its fourth straight daily gain, exiting bear-market territory. Highlights:
🟢 The Dow exploded 1,000 points in pre-market trading, and the rally never waned. Both the Dow and the S&P 500 are nearly back to even for the year, while the Nasdaq clawed its way out of bear market territory.
🟢 Bonds tumbled while yields soared as the market pushed the timing for the Fed to cut interest rates back from July to September.
🟢 Gold sank as traders passed right on by the go-to investment for safety and sprinted straight toward equities.
🟢 Crude popped on the hopes of stronger economic growth for both the US and China now that the two countries are finally engaging in trade discussions.
WhiteHawk Buys PHX Minerals for $187MM, Expands into Midcontinent
WhiteHawk Energy has agreed to acquire PHX Minerals in a deal valuing...
WhiteHawk Energy has agreed to acquire PHX Minerals in a deal valuing PHX at $187 million, including net debt.
WhiteHawk Income Corp. will acquire PHX for $4.35 per share, the companies said after markets closed on Thursday
WhiteHawk will add PHX’s portfolio of 1.8 million gross unit acres of natural gas mineral and royalty assets. The deal includes significant holdings in the Haynesville Shale and expands WhiteHawk into the Midcontinent SCOOP-STACK plays.
WhiteHawk owns a minerals and royalties portfolio of 1.3 million gross unit acres in the Marcellus and Haynesville shales.
The combination will yield a company with 3.1 million gross unit acres and cash flowing from 10,163 producing wells. The pro forma company will also have 368 wells in progress, 330 permitted locations and 7,250 undeveloped locations.
Breaking overnight: not the global economy. After talks in Switzerland...
Breaking overnight: not the global economy. After talks in Switzerland this weekend, the US and China agreed to a large reduction in tariffs on each other. The US is lowering its tariffs on China from 145% to 30%, while China is lowering its tariffs on the US from 125% to 10%. The new tariff rates will be in effect for 90 days while the two sides continue talking.
Fresh consumer data will drop: The April consumer price...
Fresh consumer data will drop: The April consumer price index report comes out on Tuesday, providing an early look at inflation in the post-Liberation Day-tariff era. Thursday will offer a gut check on if/how Americans are shopping: April retail sales numbers will be released, plus the world’s biggest retailer, Walmart, reports earnings.
Pope Leo XIV will likely still need to file US income tax returns, the Washington Post says.
Apple users who were snooped on by Siri from 2014 through 2024 can get a piece of a class action lawsuit.
Kosmos 482, the Soviet-era spacecraft turned space junk, returned to Earth and plunged into the Indian Ocean, according to Russian and European officials.
The jockey of Kentucky Derby-winner Sovereignty, Junior Alvarado, was fined over $60,000 for hitting the horse with his riding crop too many times during the race.
