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Tag Archives: crude oil

Oil, gas companies lead early decline in stocks

NEW YORK — Stocks were moderately lower Monday morning as the price of oil took another tumble amid renewed concerns about the Chinese and U.S. economies. KEEPING SCORE: The Dow Jones industrial average lost 56 points, or 0.3 percent, to 16,411 as of 11:25 a.m. Eastern. The Standard & Poor’s 500 index lost seven points, or 0.4 percent, to 1,931 ...

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US stocks rise as energy stocks bounce back

US stocks rise as energy stocks bounce back from big loss

NEW YORK — U.S. stocks are climbing Thursday, led by big gains in energy companies as the prices of crude oil and natural gas recover from steep plunges the day before. Telecom stocks also rose after Verizon reported strong fourth-quarter results. KEEPING SCORE: The Dow Jones industrial average added 146 points, or 0.9 percent, to 15,912 as of 11:23 a.m. ...

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Stocks rise a day after plunge, oil prices slide

US stocks rise a day after sharp plunge, lifted by job gains

NEW YORK — Stocks are inching upward Friday morning as investors were encouraged by continuing job growth in the U.S. The market is coming off its worst day in more than three months. KEEPING SCORE: The Dow Jones industrial average gained 38 points, or 0.2 percent, to 16,551 as of 10:15 a.m. Eastern time. The Dow lost 392 points the ...

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Oil industry exec: US crude exports help keep prices low

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 ...

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Oil proceeds went into personal accounts, Nigerian president says

LAGOS – Nigerian authorities have seen documents suggesting the proceeds from past crude oil sales were diverted to personal accounts rather than reaching government coffers, President Muhammadu Buhari said on Wednesday. Buhari, who took office in May after being elected on an anti-corruption ticket, said funds were “looted illegally”. He could not provide more details, since various cases were being taken ...

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Crude oil prices drop more than 1 percent as weak outlook prevails

SINGAPORE (Reuters) – Crude oil futures fell around half a dollar early on Wednesday as the market remained under pressure from slowing demand and high supplies, while forecasts that a cold snap in Europe and the United States would be short-lived also hurt prices. Crude prices have plunged by two-thirds since mid-2014 as soaring output from the Organization of the ...

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OPEC’s market share to shrink by 2020 as rivals keep pumping despite oil’s collapse

LONDON – Global demand for OPEC’s crude will be lower in 2020 than next year as supply from rivals proves more resilient than expected, potentially fueling a debate on the merits of its strategy to let prices fall to hurt other producers. The Organization of the Petroleum Exporting Countries, which a year ago refused to cut supply to retain market ...

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