Oil prices rise on refocused attention on tightening global supplies

Oil prices snapped back Tuesday as recent moves to soak up excess global supply—led by OPEC, as well as outages in Iran and Venezuela as a result of U.S. sanctions— buoyed prices. “Market participants are focusing on the tight supply situation again,” Commerzbank analysts said in a daily research note. U.S. futures prices on Monday had marked their lowest settlement […]

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Oil finishes with a loss, but U.S. prices mark sharpest weekly rise in a month

Crude-oil futures finished lower on Friday, with U.S. prices pulling back after four days of consecutive gains that prompted crude to tally its best weekly gain in about a month, amid growing signs of tightening global supplies. April West Texas Intermediate crude CLJ9, -0.29% shed 9 cents, or 0.2%, to settle at $58.52 a barrel on the New York Mercantile Exchange, […]

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Oil prices track stocks lower after U.S.-North Korea inaction, weak Chinese data

Oil prices slipped modestly Thursday, tugged down by weaker Chinese economic data and lower stock-market action after U.S.-North Korea nuclear talks ended without a deal. Prices gained Wednesday after Saudi Arabia affirmed its commitment to reducing output, then got an added boost after data revealed an unexpected weekly drop in U.S. crude supplies — the first decline in six weeks. […]

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Oil heads for weekly rise of about 5% as U.S.-China trade talks progress, crude supplies tighten

Oil futures gained Friday, buoyed by signs of tighter global supplies and progress in trade talks between the U.S. and China, padding what will be a substantial weekly advance led by international benchmark Brent. The market was also optimistic in regard to progress in this week’s trade talks between the U.S. and China, which can influence demand for energy from […]

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Kentucky coal plant to close, despite objections from Trump and McConnell

FRANKFORT, Ky. (AP) — A federal utility board voted Thursday to close a coal-fired power plant in Kentucky, despite objections from President Donald Trump and U.S. Senate Majority Leader Mitch McConnell, in a move the board says will save its more than 10 million customers $320 million. The Tennessee Valley Authority voted to retire the remaining coal-fired unit at the […]

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Oil and gas stocks in broad rally; crude prices jump on reports of supply cuts

Shares of oil and gas companies were broadly higher Wednesday, as reports of supply cuts and optimism on U.S.-China trade talks helped fuel a rally in crude oil prices. The energy sector was the best performing of the S&P 500’s 11 key sectors, with the SPDR Energy Select Sector ETF XLE, +1.73% climbing 1.7% with all 30 equity components gaining […]

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API data reportedly show an unexpected weekly decline in U.S. crude supply

The American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 998,000 barrels for the week ended Feb. 8, according to sources. The API also reportedly showed that gasoline stockpiles rose by 746,000 barrels, while distillate inventories declined by 2.5 million barrels. Inventory data from the Energy Information Administration will be released Wednesday. On average, analysts surveyed by […]

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As vague as it is, Green New Deal could have very real impact on Corporate America. Here’s why

The “Green New Deal” plan is short on specifics, but it still could be meaningful for a number of industries and their investors. New York Democratic Rep. Alexandria Ocasio-Cortez and Massachusetts Democratic Sen. Ed Markey on Thursday rolled out a nonbinding resolution that calls for the U.S. to generate 100% of its electricity from zero-emission sources in 10 years. The […]

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