France will restart a shuttered pipeline to send natural gas to energy-strapped Germany, Reuters reported. The formerly east-west pipeline will deliver about...
WALL STREET JOURNAL – STORY BY Benoît Morenne. Sitio Royalties Corp. and Brigham Minerals Inc. have reached a deal to merge to form one of...
By: Reuters – The Kremlin on Monday blamed the West for triggering the worst European gas supply crisis ever and warned the...
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KYIV, Ukraine (AP) — Energy problems plagued Ukraine and Europe as much of the Russian-occupied region that’s home to a largely crippled...
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By: Reuters – A Texas family which owns 70,000 acres in the Permian basin is exploring options including a sale, putting up...
HOUSTON, (Reuters) – Exxon Mobil Corp (XOM.N) and Shell Plc (SHEL.L) on Thursday confirmed the sale of their California oil joint-venture Aera to German asset manager...
G7 finance ministers are set to meet on Friday to thrash out a US-led plan to cap Russian crude oil prices. Officials...
MOSCOW (Reuters) -Ravil Maganov, the chairman of Russia’s second-largest oil producer Lukoil, died on Thursday after falling from a hospital window in...
U.S. stock and bond investors face a big employment report this week, after returning from the Labor Day weekend to kick off September trading.
The U.S. jobs report, scheduled to be released Friday, will be “huge” from a market’s perspective, said Victoria Fernandez, chief market strategist at Crossmark Global Investments, in an interview. She said the report on jobs growth and the unemployment rate in August, has the potential to move stocks and bonds.
July employment data, released in early August, had rocked the stock market as it was softer than Wall Street expected and showed the unemployment rate rose to 4.3%. However, U.S. stocks have bounced back from their recent slump, with the Dow Jones Industrial Average logging a fresh record high Friday while the S&P 500 ended 0.3% below its all-time peak notched July 16.
“The overall economy continues to look pretty strong,” said Bob Elliott, co-founder, chief executive officer, and chief investment officer of Unlimited Funds, by phone. But “the jury is still out on whether we’re going to get a ‘no landing,’ a soft landing, or a hard landing.”
Oil prices retreated on Friday as investors weighed expectations of a rise in OPEC+ supply starting in October, alongside dwindling hopes of a hefty U.S. interest rate cut next month, following data showing strong consumer spending.
Brent crude futures for October delivery, which expire on Friday, settled $1.14 lower, or 1.43%, at $78.80 a barrel, marking a decline of 0.3% for the week and 2.4% for the month.
U.S. West Texas Intermediate crude futures settled down $2.36, or 3.11%, to $73.55, a drop of 1.7% in the week and a 3.6% decline in August.
The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, is set to proceed with a planned oil output hike from October, as the Libyan outages and pledged cuts by some members to compensate for overproduction counter the impact of sluggish demand, six sources from the producer group told Reuters.
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