Backdrop of halted energy trade looms over US-China talks
Just as Beijing and Washington gear up for trade talks next week, new...
Just as Beijing and Washington gear up for trade talks next week, new data show that China imported virtually no US crude oil, liquefied natural gas and coal in June, a sharp drop from a year ago when purchases topped $800 million. The collapse in fossil fuel trade sets the stage for upcoming negotiations, where energy flows and sanctioned oil purchases are likely to figure prominently.
Oil prices dip to settle at 3-week low on US and China economic concerns
(Reuters) - Oil prices eased on Friday and settled at...
(Reuters) - Oil prices eased on Friday and settled at a three-week low as traders worried about negative economic news from the U.S. and China and signs of growing supply.
Losses were limited by optimism U.S. trade deals could boost global economic growth and oil demand in the future.
Brent crude futures fell 74 cents, or 1.1%, to settle at $68.44, while U.S. West Texas Intermediate (WTI) crude fell 87 cents, or 1.3%, to settle at $65.16.
Those were the lowest settlement levels for Brent since July 4 and WTI since June 30. For the week, Brent was down approximately 1%, with WTI down around 3%.
In China, the world's second-largest economy, fiscal revenue declined 0.3% in the first six months compared to the same period a year earlier, the finance ministry said, maintaining the rate of decline seen between January and May.
Dow ends up over 200 points, S&P 500 and Nasdaq close at record highs again
The U.S. stock market ended higher Friday, with the S&P...
The U.S. stock market ended higher Friday, with the S&P 500 finishing the week by notching a fifth straight record peak.
The S&P 500 closed 25.29 points higher, or 0.4%, at 6,388.64.
The Nasdaq Composite increased 50.36 points, or 0.2%, to end at 21,108.32 points, also scoring a fresh record high.
The Dow Jones Industrial Average gained 208.01 points, or 0.5%, to finish at 44,901.92.
The market closed on an upbeat note as investors weighed remarks that the president of the European Commission posted Friday on X about a “good call” with President Donald Trump ahead of a meeting in Scotland on Sunday to discuss trade relations.
All three major U.S. equities benchmarks rose on the week, with the S&P 500 and technology-heavy Nasdaq each booking back-to-back weekly gains while the Dow snapped back-to-back weekly declines, according to Dow Jones Market Data. The S&P 500 climbed 1.5%, while the Nasdaq saw a weekly rise of 1% and the Dow advanced 1.3% for the week.
Chord Marketing Non-Op Gas Assets in Marcellus Core
Chord Energy is gauging market interest for non-operated...
Chord Energy is gauging market interest for non-operated Marcellus Shale interests it acquired from Enerplus last year.
Chord is working with investment bank and advisory Moelis & Co. to market the Marcellus package in northeast Pennsylvania, sources told Hart Energy under the condition of anonymity.
The legacy Enerplus assets include approximately 33,000 net acres in the Marcellus dry gas play. Net production from the Marcellus assets averaged 128.5 MMcf/d in the first quarter, Chord said.
Expand Energy, one of Appalachia’s largest bellwether producers, serves as the operator for most of the Marcellus assets, according to multiple sources.
Based on recent Marcellus transactions, Chord’s non-op package could potentially fetch around $500 million in a sale, according to an Energy Advisors Group (EAG) analysis.
Merger would create a new transcontinental US railroad
A single megarailway might soon connect the land of Wawa to In-N-Out...
A single megarailway might soon connect the land of Wawa to In-N-Out country. The biggest freight railroad in the country, Union Pacific, and fellow rail giant Norfolk Southernconfirmed reports yesterday that they are in advanced talks to form America’s first ocean-to-ocean railway.
Union Pacific says that merging into a $200 billion behemoth would make shipping goods between the Eastern and Western US more efficient, as they wouldn’t have to be transferred between tracks run by different companies.
However, a deal would likely face regulatory hurdles as well as potential opposition from labor unions and companies that ship their goods by rail, who are concerned that it would diminish competition and increase freight prices.
