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Brent steady above $86 as market awaits Fed statement

Increasing price of oil concept as an gasolene drum spilling petroleum with the black liquid shaped as an upward stock market graph arrow as a metaphor for rising costs of fuel on a white background.

TOKYO, Oct 29- Brent oil prices held steady above $86 a barrel on Wednesday as investors awaited guidance from the Federal Reserve on U.S. monetary policy later in the day and after industry data on U.S. inventories came in more or less as expected. Investors were also awaiting data on closely-watched stockpiles from the U.S. government’s Energy Information Administration due ...

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Hess 3rd-qtr net tops Street as Bakken production surges

hess

Oct 29- Oil and gas producer Hess Corp posted a better-than-expected quarterly profit on Wednesday as production jumped in North Dakota’s Bakken shale formation. Net income surged to $1 billion, or $3.31 per share, in the third quarter from $420 million, or $1.23 per share, in the year-ago period. Excluding recent asset sales and other one-time items, the company posted ...

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Susser Petroleum now trading under Sunoco symbol

Sunoco LP udate

Susser Petroleum Partners announced Monday it has changed its name to Sunoco LP, opening the door to the possibility of changes at local Stripes convenience stores. The company said in a statement it would begin trading on the New York Stock Exchange under the symbol “SUN.” The partnership completes the first dropdown of Mid-Atlantic Convenience Stores, LLC, from Energy Transfer ...

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GOP Senate takeover could boost sagging energy stocks

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NEW YORK – Investors stung by plunging oil prices and energy stocks may find relief right around the corner: A Republican-led U.S. Senate could well jump-start energy-friendly policies that would shore up the beaten-down sector. Political oddsmakers say Republicans should win the Senate in next week’s mid-term elections. Although major reforms on big issues like taxes or immigration are thought ...

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Oil slips below $80, energy stocks fall

NEW YORK — The price of oil fell below $80 a barrel Monday morning and investors resumed their retreat from energy stocks. Mounting evidence of rising supplies and weak demand continues to sour investors on prospects for crude oil and the companies that produce it. Goldman Sachs was the latest Wall Street bank to lower its forecast for crude prices, ...

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Plan to use BP funds for convention center opposed

BIRMINGHAM, Ala. — An environmental group filed suit Thursday to block a decision that would let Alabama use nearly $60 million in Gulf oil spill funds to build a beachfront convention center. The Gulf Restoration Network sued the Interior Department and other federal agencies in Washington claiming the money should go to restore wetlands and other parts of the Gulf ...

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Brent slips towards $84 on sharp rise in U.S. crude stocks

SINGAPORE, Oct 23 – Brent crude fell for a second session running on Thursday, hitting a one-week low just above $84 a barrel as a sharp rise in crude inventories in top oil consumer the United States reinforced oversupply concerns. U.S. crude inventories surged by 7.1 million barrels last week to 377.68 million barrels, more than double the 2.7-million-barrel increase ...

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Natural gas prices may not climb with exports

FORT WORTH — Promoting the economic benefits of expanded liquefied natural gas exports, state and energy officials said selling gas overseas does not mean prices here will automatically climb. Texas Railroad Commission Chairman Christi Craddick said Tuesday at a panel discussion in Fort Worth that LNG exports could generate as much as $86 billion in net benefits to the U.S. ...

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