Oil prices hit multi-week highs amid US-China trade talks
(Reuters) Oil prices hit multi-week highs on Monday,...
(Reuters) Oil prices hit multi-week highs on Monday, buoyed by a weaker U.S. dollar. Investors awaited news from U.S.-China trade talks in London hoping that a deal could boost the global economic outlook and fuel demand.
Brent crude futures settled 57 cents higher, or 0.9%, to $67.04 a barrel. During the session, the benchmark rose to $67.12 a barrel, the highest since April 28.
U.S. West Texas Intermediate crude rose 71 cents, or 1.1%, to $65.29. The contract reached $65.38 a barrel during the session, the highest since April 4.
A weaker U.S. dollar gave some support to oil prices, as the dollar index (.DXY) dropped 0.3%, making oil cheaper for holders of other currencies.
Last week, Brent rose 4%, and WTI gained 6.2% as the prospect of a U.S.-China trade deal boosted some investors' risk appetite.
U.S. stocks end mostly higher as investors still waiting for details on U.S.-China trade talks
U.S. stocks ended mostly higher on Monday as investors...
U.S. stocks ended mostly higher on Monday as investors continued to wait for details about the trade talks between the U.S. and China that kicked off Monday in London. As of market close, no new information was available.
The Dow Jones Industrial Average closed flat on Monday, turning red minutes before the market close while still off session lows. “Investors were originally looking to book some profits after last week’s gains, but optimism continues to show through around the U.S.-China trade talk,” according to Jeff Schulze, head of economic and market strategy at ClearBridge Investments.
The Dow went down 1.11 points or 0.003% to end at 42,761.76, according to the Dow Jones Market Data.
The S&P 500 went up 5.52 points or 0.1% to finish at 6,005.88 for back-to-back gains;
The Nasdaq Composite rose 61.28 points or 0.31% to close at 19,591.24, logging back-to-back gains.
Permian Basin drillers see peak output as prices fall
Recent developments indicate a shift in the US oil industry, with executives...
Recent developments indicate a shift in the US oil industry, with executives and investors focusing on slowing domestic growth and potential limits to shale production expansion. This shift in sentiment comes as rising costs and maturing wells challenge the previous assumptions of continuous output increases.
Kinder Morgan is investing heavily in natural gas infrastructure, with...
Kinder Morgan is investing heavily in natural gas infrastructure, with projects including the $1.7 billion Trident Intrastate project and a $450 million expansion of the Gulf Coast Express pipeline. "Some might call it the golden age of pipeline construction because it is a time to build. ... It's not just talk out of Washington, it's actual action," says the firm's Executive Vice President of Public Affairs Allen Fore.
Trade talks between the US and China begin in London today
Each side is bringing its wish list. American trade officials will press...
Each side is bringing its wish list. American trade officials will press their Chinese counterparts to ease export controls on rare earth minerals and the magnets containing them. For its part, China wants the US to lift recent restrictions on its ability to buy jet engines and other technology products. US Treasury Secretary Scott Bessent will lead the American side. The negotiations aim to build on the progress made between the two countries in Geneva in May, when they agreed to a 90-day pause on some of the aggressive tariffs they had imposed on each other this year. The talks are expected to run through Friday.
