Colombia's president presses Ecopetrol to exit US fracking
Colombian President Gustavo Petro has directed state oil company Ecopetrol...
Colombian President Gustavo Petro has directed state oil company Ecopetrol to sell its US fracking operations, including its newly extended joint venture with Occidental Petroleum in the Permian Basin, and reinvest the money in clean energy. The decision disrupts Ecopetrol and Oxy's plan to invest more than $880 million in 91 new oil Permian wells.
Intensity Infrastructure Partners is holding an open season until March...
Intensity Infrastructure Partners is holding an open season until March 7 to gauge customer interest in a 126-mile, 1.5 Bcf/d natural gas pipeline in the Bakken Shale, from western North Dakota to southern McLean County. As the region's associated gas volumes surge, analysts warn that insufficient takeaway capacity could bottleneck oil production growth.
Industrial giant Honeywell splits in three. The US conglomerate will separate its aerospace...
Industrial giant Honeywell splits in three. The US conglomerate will separate its aerospace division from its automation group and spin off its advanced materials business in a move similar to the one GE announced in 2021. It’s a win for activist investor Elliott Investment Management, which called for a breakup last year in light of Honeywell’s dragging share price. GE’s tripartite separation has been deemed a success, with its three separate businesses now worth about four times more together than GE was in 2022, the Wall Street Journal reported. Honeywell’s split leaves the US with precious few industrial conglomerates left.
AMC Theatres hiked the monthly fee for Stubs A-List by a few bucks, but will allow subscribers to see an extra movie each week.
Roblox stock fell after the company reported disappointing bookings, adding more unease to the gaming industry following EA’s recent forecast trim.
YouTube is now advertising on TikTok, hoping to convince the app’s creators to defect to the Google-owned platform while TikTok’s US status is in limbo.
All Quiksilver, Billabong, and Volcom stores will close in the US after their operator filed for bankruptcy, in what would have been a devastating blow to your 7th-grade friend group.
Oil ends at lowest price of the year on rising U.S. supplies, tariff disputes
U.S. and global oil futures declined on Thursday as a...
U.S. and global oil futures declined on Thursday as a hefty rise in last week's U.S. supplies and uncertainty surrounding tariff disputes helped to weaken the outlook for crude demand, prompting prices to settle at their lowest levels of the year.
Prices found little support from an increase in Saudi Arabia's crude prices for Asian buyers, which implied strength in crude demand from the region.
-- West Texas Intermediate crude CL00 for March delivery CL.1 CLH25 fell 42 cents, or 0.6%, to settle at $70.61 a barrel on the New York Mercantile Exchange.
-- April Brent crude BRN00 BRNJ25, the global benchmark, lost 32 cents, or 0.4%, to end at $74.29 a barrel on ICE Futures Europe. Brent and WTI crude marked fresh settlement lows for the year.
-- March gasoline RBH25 added 1.2% to $2.07 a gallon, while March heating oil HOH25 rose 0.6% to $2.40 a gallon.
-- Natural gas for March delivery NGH25 settled at $3.41 per million British thermal units, up 1.4%.
Dow ends lower while S&P 500 and Nasdaq gain ahead of Amazon earnings
The blue-chip Dow closed lower on Thursday, but stocks...
The blue-chip Dow closed lower on Thursday, but stocks still were on pace to post weekly gains as a chaotic week on the tariff front was winding down.
The Dow Jones shed about 125 points, or 0.3%, closing near 44,747, according to preliminary data
The S&P 500 index finished up 0.4%
The Nasdaq Composite Index closed 0.5% higher
Trade war jitters led to a rough start to the week after President Trump announced 25% tariffs on Mexico and Canada over the weekend, but implemented a pause on Monday.
China still saw a new 10% trade tariff.
For the week so far, the Dow was up 0.5%, the S&P 500 0.7% higher and the Nasdaq was up 0.8%.
