LONDON (AP) — A bounce-back in oil prices helped European stock markets to recover their poise Thursday following an earlier retreat when concerns over the state of U.S. consumer spending weighed on shares. KEEPING SCORE: In Europe, France’s CAC 40 was up 0.9 percent to 4,355 while Germany’s DAX rose 0.9 percent to 10,067. The FTSE 100 index of leading ...

PARIS (AP) — The International Energy Agency said Thursday that higher than expected Iranian oil production has helped stabilize the global oil market by offsetting concerns generated by wildfires in Canada and violence in Nigeria. In its monthly report, the Paris-based IEA said global oil output rose to 32.7 million barrels a day in April, a figure boosted by Iran ...

WASHINGTON — The oil industry’s top lobbyist says a new law allowing U.S. crude exports helps explain why oil prices have not spiked despite heightened tensions between two of the world’s big oil-producing countries, Iran and Saudi Arabia. The president and chief executive of the American Petroleum Institute, Jack Gerard, says the 3-week-old law lifting a 40-year ban on crude ...

WASHINGTON – Senate Democrats on Tuesday laid out a list of demands they seek before making any deal to end the 40-year-old ban on crude oil exports in the wide-ranging government funding bill. With oil prices falling to nearly seven-year lows of less than $40 a barrel, producers are desperate to open crude sales to global markets. They say lifting ...

While the recent Iran deal has some concerned that the already flooded oil market will soon be spilling over tank tops and causing prices to trickle down with it, Forbes contributor Joel Moser has some encouraging insight into why the deal, thanks in part to the Bakken, won’t harm long-term investments. While the obvious outcome of the deal is a ...

SEOUL – Oil prices dipped slightly on Friday as the U.S. dollar edged up from its overnight lows, while forecast higher production by U.S. shale oil producers this year added to lingering worries over demand. U.S. crude futures for July shed 7 cents to $60.38 a barrel as of 0009 GMT after closing up 53 cents in the previous session. ...

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Strong growth in demand for refined fuels such as gasoline and diesel is helping to rebalance the global oil market, according to most observers. “Recent oil market strength … stems partly from unexpectedly strong oil demand growth,” the International Energy Agency explained in its June ...

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – U.S. shale producers are the new “swing producers” in the oil market, as many analysts have noted, but the status of swing producer is hugely misunderstood. It is often portrayed as if it confers power and control. In fact, it often means the opposite. The ...

NEW YORK – Nearly half of all U.S. oil and gas company executives expect Brent crude oil prices to remain below $60 a barrel this year, and a third believe price volatility will extend into 2016, according to a KPMG survey released Wednesday. The survey, which canvassed nearly 200 U.S. senior energy executives, comes amid an oil industry slowdown caused ...

NEW YORK — U.S. stocks are closing modestly lower, continuing a downward trajectory from the day before. The Dow Jones industrial average fell 77 points, or 0.4 percent, to 17,698 Wednesday. The Dow slumped 200 points on Tuesday. The Standard & Poor’s 500 index lost eight points, or 0.4 percent, to 2,059. The Nasdaq composite declined 20 points, also 0.4 ...