Oil prices gain, recouping some of last week's 7% loss
Oil prices rose on Monday, recouping some of last week's more than 7%...
Oil prices rose on Monday, recouping some of last week's more than 7% decline. Fighting in the Middle East has not let up, and the expectation of retaliatory Israeli attacks on Iran worries markets about supply from the region.
Brent crude December futures settled up $1.23 at $74.29 a barrel, while U.S. West Texas Intermediate crude December futures closed up $1.35 at $70.04 a barrel.
Brent settled more than 7% lower last week, while WTI lost around 8%. Those were the contracts' most significant weekly declines since Sept. 2, due to slowing economic growth in China and falling risk premiums in the Middle East.
Israeli forces besieged hospitals and shelters for displaced people in the northern Gaza Strip on Monday as they stepped up operations against Palestinian militants, medics said. Israel also carried out targeted strikes on sites belonging to Hezbollah's financial arm in Lebanon.
Dow snaps 3-day winning streak, U.S. stocks mostly fall as Treasury yields climb
U.S. stocks closed mostly lower on Monday, as 10- and...
U.S. stocks closed mostly lower on Monday, as 10- and 30-year Treasury yields ended at almost three-month closing highs.
The Dow Jones Industrial Average fell 344.31 points, or 0.8%, to end at 42,931.60, snapping a three-day winning streak, according to the FactSet data. The index logged its largest one-day point and percentage decline since October 7, 2024.
The S&P 500 shed 10.69 points, or 0.2%, to finish at 5,853.98.
The Nasdaq Composite gained 50.45 points, or 0.3%, to close at 18,540.00
Energy Dept. offers $3B loan guarantees for SAF plants
The US Department of Energy...
The US Department of Energy has committed $3 billion in loan guarantees to boost two companies producing sustainable aviation fuel. Montana Renewables could receive up to $1.44 billion to expand its facility in Great Falls, Mont., which means biofuel from leftover oil and grease, while Gevo could get a $1.46 billion loan guarantee to build a new refinery in Lake Preston, S.D., that would make SAF from corn ethanol.
LNG shipping rates drop on increased tanker availability
As new tankers hit the seas faster than new liquefied natural gas supplies,...
As new tankers hit the seas faster than new liquefied natural gas supplies, short-term shipping rates have declined to their lowest seasonal level since at least 2018, according to shipbroker Fearnleys A/S, offering a rare reprieve for consumers grappling with high energy costs. However, upcoming LNG export capacity additions are expected to tighten the freight market from 2026 onward, Energy Aspects analysts predict.
US investigating leak of classified documents on social media
Top-secret documents showing Israel’s plans to attack Iran were ...
Top-secret documents showing Israel’s plans to attack Iran were posted on the messaging app Telegram on Friday, prompting the US to investigate how that classified information got out. The reports, prepared by the National Geospatial-Intelligence Agency, were posted on Telegram and on X by the pro-Iran site Middle East Spectator, which said it received them from an anonymous source. The investigation aims to find whether the documents were intentionally leaked by someone internal to the US intelligence community or if they were hacked, per the AP. House Speaker Mike Johnson called the intelligence breach “very concerning.”
