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Tag Archives: crude prices

Stocks end mixed as crude oil dives and safety stocks fall

NEW YORK (AP) — U.S. stocks swerved between gains and losses Thursday and wound up with a muddled finish as the price of oil plunged. Investors also sold utility and phone company stocks. They have favored those companies all year, especially in the wake of Britain’s vote to leave the European Union last month. Stocks started higher, building on gains ...

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US energy secretary sees oil market coming into balance

Ernest Moniz, Energy Department, oil glut

BEIJING (AP) — The U.S. energy secretary said Friday he sees the global oil market coming into balance over the next year as rising demand catches up with a two-year-old supply glut that depressed prices. Ernest Moniz said supplies should be adequate after the market comes into balance. He said Saudi Arabia has made clear it will maintain spare production ...

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US stocks waver; health care gains but energy companies fall

stocks

NEW YORK (AP) — U.S. stocks are wavering in subdued trading Wednesday afternoon ahead of Britain’s vote on whether to leave the European Union. Health care stocks rose but energy companies fell in tandem with the price of oil. Technology companies slipped following weak reports from Adobe and HP. KEEPING SCORE: The Dow Jones industrial average slipped 7 points to ...

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Oil price unlikely to rise much further, global agency says

oil overflow barrel

LONDON (AP) — The price of oil is unlikely to rise much further after rallying almost 90 percent since January, as the global market shows signs of stabilizing, the International Energy Agency said Tuesday. The Paris-based agency, which advises the world’s top oil consuming nations, nudged up its estimate for global oil demand this year in its monthly report. It ...

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Ahead of meeting, OPEC seems close to riding out price slump

OPEC

VIENNA (AP) — OPEC is not yet in safe harbor. But ahead of a top-level meeting, the 13-nation oil cartel appears close to weathering the storm of slumping crude prices that threatened to bankrupt some members and called into question its relevance. After touching a 13-year low early this year, the price of oil has moved steadily upward to its ...

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Exxon, Chevron shareholders reject climate resolutions

Exxon annual meeting

DALLAS (AP) — Shareholders at Exxon Mobil and Chevron rejected resolutions backed by environmentalists that would have pushed the companies to take stronger stands in favor of limiting climate change. Environmentalists took solace, however, that some of their ideas gained considerable support. At Chevron Corp., a resolution asking for an annual report each year on how climate-change policies will affect ...

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Kuwait oil unions end 3-day strike over government cutbacks

KUWAIT CITY (AP) — Oil unions in Kuwait ended a three-day strike over government cutbacks, authorities said Wednesday, though it remained unclear what concessions may have been granted to the workers amid low global crude prices. The state-run Kuwait News Agency reported that the unions ended the strike by praising the country’s ruling emir, Sheikh Sabah Al Ahmad Al Sabah, ...

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Oil meeting in Qatar collapses without freeze as Iran absent

Oil meeting in Qatar collapses without freeze as Iran absent

DOHA, Qatar (AP) — A meeting of oil-rich countries in Qatar that had been expected to boost crude prices by freezing production fell apart Sunday as Iran stayed home and vowed to increase its output despite threats by Saudi Arabia. Oil prices, which hit a 12-year low in January by dipping under $30 a barrel, had risen above $40 in ...

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Stocks eke out modest gains as focus turns to US earnings

Stocks eke out modest gains as focus turns to US earnings

NEW YORK (AP) — U.S. stocks were steadily higher in early trading Tuesday, as investors worked through the first batch of earnings from the first quarter of the year. KEEPING SCORE: The Dow Jones industrial average rose 42 points, or 0.3 percent, to 17,600 as of 10:09 a.m. Eastern. The Standard & Poor’s 500 index rose two points, or 0.1 ...

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