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%.
Nearly 2 million federal workers have until tonight to either return...
Nearly 2 million federal workers have until tonight to either return to the office or accept a buyout offer from the Trump administration. At least 20,000 federal employees have already accepted the package, which provides eight months of salary through Sept. 30. The figure is below the White House's target of 5% to 10% acceptance—though it may rise by the end of the day—and critics have raised questions about its feasibility.
Burgum orders review of monuments for energy potential
Under an order issued by...
Under an order issued by Interior Secretary Doug Burgum, Interior Department staff have until Feb. 18 to review 157 national monuments across 33 states for potential boundary revisions that could open them to oil and natural gas drilling and mining. Utah's Bears Ears and Grand Staircase-Escalante National Monuments, rich in coal, oil, gas and uranium, are among the likely targets, although presidential authority to alter monument boundaries remains uncertain and is being debated in court.
Alliance Resource Partners Adds More Mineral Interests in 4Q
Alliance Resource Partners closed more oil and gas mineral interest...
Alliance Resource Partners closed more oil and gas mineral interest acquisitions in fourth-quarter 2024, adding to portfolio that includes the Midland, Delaware, Anadarko and Williston basins, the company said in its earnings report.
Alliance said that it closed $9.6 million in acquisitions in the quarter and recorded full year oil and gas royalty volumes of 3.4 MMboe—up 9.6% year-over-year. The company didn’t specify where the interests were acquired.
As of December, Alliance reported owning69,372 net royalty acres, with 53% of its interests in the Midland and Delaware.
