Hellenic Shipping News – The embattled, but resilient Permian Basin quickly evolved from a glut of oil to a glut of excess...
Reuters – Oil prices steadied on Monday as news that China planned to ship large volumes of U.S. crude in August and...
By Katie Watkins – Houston Public Media – Oil and gas producers in Texas are set to face fewer regulations on greenhouse...
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By Saeed Ashar and Rania El Gamal – Reuters – State oil giant Saudi Aramco’s profit plunged 73% in the second quarter...
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By: Mark Jaffe – The Colorado Sun – The Colorado Oil and Gas Conservation Commission on Tuesday raised the tax it levies...
All three major stock indexes closed higher for the second time in six sessions on Thursday, fueled by weekly jobless claims that gave investors hope the U.S. labor market can continue to hold up.
Thursday's data was "soothing concerns over a U.S. economic recession,'' according to senior markets economist James Reilly at Capital Economics.
The Dow Jones Industrial Average finished up by 683.04 points, or 1.8%, at 39,446.49, based on preliminary data.
The S&P 500 closed up by 119.81 points, or 2.3%, at 5,319.31. On a percentage basis, it was the index's best day since Nov. 30, 2022.
The Nasdaq Composite closed up by 464.22 points, or 2.9%, at 16,660.02
The numbers: The number of Americans who applied for unemployment benefits last week sank to 233,000 and receded from nearly one year, suggesting layoffs remain quite low and that the labor market is still in good shape.
New claims fell by 17,000 in the seven days that ended Aug. 3 from 250,000 in the prior week, the government said Thursday. The latest reading marks a one-month low.
Economists polled by the Wall Street Journal had forecast new claims to total 240,000, based on seasonally adjusted figures.
A surge in new claims at the end of July appeared to stem mostly from people in Texas being unable to work after Hurricane Beryl.
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