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Tag Archives: oil and gas prices

Applications for US jobless aid rise from 4-decade low

In this Wednesday, March 30, 2016, photo, job recruiters work their booths at a job fair in Pittsburgh. On Thursday, April 28, 2016, the Labor Department reports on the number of people who applied for unemployment benefits in the previous week. (AP Photo/Keith Srakocic)

WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits climbed last week, but remained near the lowest level in four decades, a sign that the slumping economy isn’t boosting layoffs. THE NUMBERS: The Labor Department says weekly applications for unemployment aid rose 9,000 to a seasonally adjusted 257,000. Applications fell in the previous week to the lowest since ...

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US stocks edge mostly higher as oil prices bounce back

U.S. stock indexes edged mostly higher in early trading Friday as rising oil prices pushed energy companies higher. Technology companies were the biggest laggards as Microsoft and Google parent Alphabet declined on disappointing earnings. Investors pored through the latest batch of earnings from big companies, including McDonald’s, American Airlines Group and General Electric. KEEPING SCORE: The Dow Jones industrial average ...

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Colorado’s economy seeing slower growth, reports say

Sunrise over Denver, Colorado. (Image: Jeff Turner via Flickr)

DENVER (AP) — Colorado’s depressed energy sector has led to a dip in estimated tax collections, meaning lawmakers will have to continue wrangling over tax refunds and paying for roads and schools this legislative session, according to revenue forecasts released Friday by legislative and administration analysts. Colorado will balance its books next fiscal year, as it must under the state ...

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Economist: U.S. recession unlikely until early 2019

Consumers and businesses won’t have to grapple with another recession until 2019 and a major downturn is unlikely for at least another 15 years, a Manchester, N.H.-based economist said Friday in Colorado Springs. A weakening dollar, an economic recovery in Europe and stronger growth late next year in China will trigger better economic conditions nationwide in 2016, particularly for businesses ...

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Utica: Drillers take hits from stock prices


Thanks to low commodity prices, drillers and investors in the oil and gas industry have taken several negative hits, and those hits are certainly visible when it comes to drillers in the Utica Shale formation. On Friday during a second-quarter earnings call, Magnum Hunter Resources Corp. CEO Gary Evans explained that there is a dramatic prices difference in oil and ...

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North Dakota loses lowest jobless rate as oil prices slide

BISMARCK, N.D. — For the first time in more than six years, North Dakota doesn’t have the lowest unemployment rate in the nation, due in part to sliding oil drilling activity spurred by low crude prices. U.S. Bureau of Labor Statistics data released Friday show North Dakota’s jobless rate in February was 2.9 percent, up from 2.8 percent in January. ...

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Company evaluating energy-market effect on proposed cracker

Brazilian conglomerate Odebrecht is assessing how the global collapse in crude oil and natural gas prices could affect the engineering and operation of the petrochemical complex it is considering building in Wood County. In November 2013, the company announced the Appalachian Shale Cracker Enterprise, or Project ASCENT. Through the project, the company hopes to build an ethylene cracker plant, three ...

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