Stocks closed lower on Thursday, with the Dow ending below the 40,000...
Stocks closed lower on Thursday, with the Dow ending below the 40,000 threshold, which it crossed earlier in the session for the first time in history.
The Dow Jones Industrial Average shed about 38 points, or 0.1%, ending near 39,869, according to preliminary data.
The S&P 500 Index fell 11 points, or 0.2%, closing near 5,297.
The Nasdaq Composite Index lost 44 points, or 0.3%, finishing around 16,698.
EIA: US oil output from shale regions to rise in June
Output gains in the Permian Basin and Eagle Ford Shale will lift US oil...
Output gains in the Permian Basin and Eagle Ford Shale will lift US oil production from major shale formations to 9.85 million barrels per day in June, the highest level since December, the Energy Information Administration has predicted. Conversely, shale gas production is expected to decline to 99.2 Bcf/d in June, the lowest in five months.
Cheniere nears operations at Corpus Christi Stage 3
Cheniere Energy is advancing construction on its Corpus Christi Stage...
Cheniere Energy is advancing construction on its Corpus Christi Stage 3 project, aiming for the first liquefied natural gas shipment by the end of the year and full operation of all seven trains by 2026. Additionally, the company is working toward regulatory approvals for midscale trains eight and nine at Corpus Christi, with plans to reach final investment decisions on them in 2025.
North Korean-Iranian Military Cooperation Raises Alarm in the West
Iran and North Korea have a long history of working together to advance...
Iran and North Korea have a long history of working together to advance their respective military arsenals. The visit of a North Korean delegation to Tehran last month only served to increase suspicions.
Increased trade efforts between the two heavily sanctioned countries have raised concerns that they could share advanced missile and nuclear technology.
Coming at a time when Tehran and Pyongyang are playing a central role in heightened global tensions, the prospect of one pariah state in possession of nuclear weapons and intercontinental missiles, North Korea, aiding another accused of seeking those capabilities, Iran, has heightened fears in Western capitals.
Trump Wants the IEA to Refocus on Fossil Fuels and Energy Security
If Donald Trump wins the presidential election, he is expected to push...
If Donald Trump wins the presidential election, he is expected to push the International Energy Agency (IEA), for which the United States provides about a quarter of the funding, back to energy security and fossil fuel supply, Reuters reported on Thursday, quoting sources with knowledge of the matter. [if !supportLineBreakNewLine] [endif]
The Paris-based IEA was created to ensure the security of supply to developed economies in the aftermath of the Arab oil embargo in the 1970s.
In recent years, however, the agency has shifted from this purpose to endorsing the net-zero by 2050 goal and is advocating for a major change in the global energy system to include more electric vehicles (EVs), renewable power supply, hydrogen, and all other low-carbon energy sources. The IEA has even infamously said that no new oil and gas developments would be needed if the world stands a chance of reaching net zero by 2050.🤦♂️
