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Tag Archives: global energy markets

US stocks gain in morning trading as crude oil rises

NEW YORK (AP) — Stocks rose on Wall Street Monday morning, led by gains in energy companies as the price of crude oil increased sharply. Marathon Oil jumped 6 percent and offshore driller Transocean rose 5 percent. Major U.S. stock indexes have fallen for three weeks in a row. KEEPING SCORE: The Dow Jones industrial average rose 125 points, or 0.7 ...

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Oil tanker laden with North Dakota crude reaches Netherlands

North Dakota crude reached the Netherlands at the Port of Rotterdam. The Bakken crude shipment, sold by Hess Corp. is the first light crude to be shipped out from the U.S. since the oil export ban was lifted last December. (Image: Bart via Flickr)

BISMARCK, N.D. (AP) — A petroleum tanker laden with 175,000 barrels of North Dakota crude was being offloaded in Europe on Wednesday, the first such overseas shipment of the state’s oil since Congress lifted a 40-year ban on crude exports in December. North Dakota’s congressional delegation and industry officials hailed Hess Corp.’s shipment as a milestone that could open more markets in ...

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Iran’s parliament approves $97 billion budget

TEHRAN, Iran (AP) — Iran’s official IRNA news agency is reporting that the country’s parliament has approved a $97 billion budget for the current year. The Tuesday report says that the new budget allows the government to set the price of oil at $40 a barrel and to export 2.25 million barrels per day. Iran says it has increased its ...

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Cramer – America’s energy abundance fuels freedom in the Middle East

The night lights of the United States as seen from outer space. (Image: NASA)

WASHINGTON, D.C. – Congressman Kevin Cramer made the following comments after media reports disclosed Swiss commodities house Trafigura will begin shipping American crude oil to Israel in the near future. This action comes after the United States released its ban on exporting crude oil as part of the Consolidated Appropriations Act passed in December.  Cramer has long been an advocate in Congress ...

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A month after raising rates, Fed faces darker global economy

WASHINGTON — Since the Federal Reserve raised interest rates from record lows last month, the global picture has darkened. Stock markets have plunged. Oil prices have skidded. China’s leaders have struggled to steer the world’s second-biggest economy. All of which raised a delicate question: Did the Fed err in raising rates for the first time in nearly a decade? Don’t ...

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Exxon says oil and gas will still dominate energy in 2040

permian basin

DALLAS — The way oil giant Exxon Mobil sees it, the global energy landscape won’t be radically different in 2040 than it is today. Oil and gas will remain king, accounting for an even slightly larger share of the energy supply. Coal will fall behind natural gas to become the third-largest source of energy. Exxon forecasts that emerging renewables such ...

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BP to cut 4,000 jobs amid oil price plunge

LONDON — Oil company BP is cutting some 4,000 jobs in exploration and production over the next two years amid sharp drops in the price of crude. The cuts in BP’s upstream business globally will include the loss of some 600 jobs in the North Sea. The cost-cutting announced Tuesday comes as the price of oil dropped to a 12 ...

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