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The U.S. Federal Reserve is due to review policy next on July 30-31, when investors expect it to keep rates unchanged, though there have been indications that a cut will happen at the September meeting. News that President Biden decided on Sunday to abandon his re-election bid was not a major factor for oil markets. He has endorsed Vice …
Oil Prices Stable After Biden Exit While Rate Outlook Remains in Focus Read More »
(Reuters) – Oil prices steadied on Thursday as investors wrestled with mixed signals about crude demand, with concerns about an economic slowdown in the U.S. contending with rising expectations the Federal Reserve would soon cut interest rates. Brent futures settled at $85.11 a barrel, rising 3 cents, while U.S. West Texas Intermediate (WTI) crude fell …
Oil Prices Steady as U.S. Rate-Cut Hopes Contend with Economic Slowdown Signals Read More »
A federal court in Alaska overturned on Tuesday night an oil and gas lease sale that had been mandated by the Biden administration’s signature climate law as part of a political compromise, on grounds that the U.S. government violated the law when holding the sale. This ruling affects a lease sale held in December 2022 …
U.S. Court Overturns Alaska Oil Lease Sale in a Win for Environmentalists Read More »
(Reuters) – Oil prices were steady on Wednesday, with global benchmark Brent hovering near the one-month low it hit in the prior session, as signs of weakening demand growth in China clashed with the prospect of declining U.S. oil stockpiles. Brent crude oil futures was down by 4 cents to $83.69 a barrel by 0315 …
Oil Prices Steady as Declining U.S. Inventories Offset Slowing China Demand Read More »
(Reuters) – U.S. pipeline operator Energy Transfer and fuel distributor Sunoco on Tuesday said they would form a joint venture combining their crude oil and produced water-gathering assets in the Permian Basin. Dallas-based Sunoco is an affiliate of Energy Transfer, which billionaire Kelcy Warren controls. The joint venture, formed on July 1, is expected to be immediately …
Energy Transfer, Sunoco Form Joint Venture of Permian Crude Businesses Read More »
(Reuters) – Oil prices fell for a second day on Monday as the dollar gained ground amid political uncertainty in the U.S. following an attack on U.S. presidential candidate Donald Trump while investors eyed the progress of talks for a Gaza ceasefire. Brent crude futures fell 55 cents, or 0.7%, to $84.48 a barrel by …
Summary U.S. consumer sentiment fell in July Producer price index rose 0.2% in June U.S. active oil rig count fell by one to 478 this week NEW YORK, July 12 (Reuters) – Oil futures prices settled slightly lower on Friday as investors weighed weaker U.S. consumer sentiment against mounting hopes for a Federal Reserve rate …
Oil Prices Settle Down after Data Shows Weaker U.S. Consumer Sentiment Read More »
(Reuters) – Oil prices rose on Friday amid signs of easing inflationary pressures in the United States, the world’s biggest oil consumer, though Brent crude was still set for a weekly decline. Brent crude futures were up 52 cents, or 0.6%, to $85.92 a barrel at 1051 GMT. U.S. West Texas Intermediate crude futures were …
Storm left 85% of city without power, including mayor’s house Residents told to stay home after three deaths are reported Bloomberg The majority of Houston remained without power in Tropical Storm Beryl’s wake, and authorities warned the blackout could last days even as heat builds across the battered region. Beryl left the nation’s fourth-largest city …
Most of Houston Loses Power as Hurricane Beryl Delivers Latest Blow Read More »
(Reuters) – A double whammy of record heat and hurricanes should test U.S. refiners’ resilience in coming weeks, raising the risk of extremely volatile fuel prices in the middle of the peak travel season, analysts said. The Atlantic hurricane season from June through November is an annual threat for U.S. refineries. Half of the country’s …
Record U.S. Summer Heat, Hurricanes Could Roil Fuel Prices as Oil Refiners Sweat Read More »
