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Today: March 31, 2025
Today: March 31, 2025
Laura Sanicola

Laura Sanicola

Staff Writer

Latest From Laura Sanicola

Uncategorized

Oil falls as US rate hike fears subside, China demand weighs

Oil prices fell slightly on Thursday, with Brent crude holding close to January highs, as speculation about another U.S. interest rate hike faded following inflation data and OPEC remained positive on the oil demand outlook. Both benchmarks have been on a sustained rally since June, with WTI trading at its highest this year on Thursday and Brent hitting its highest price since January. Brent crude fell 72 cents to $83.68 a barrel at 11:55 a.m. EDT (1555 GMT). West Texas Intermediate crude (WTI) was down 46 cents at $87.09, after falling by $1 earlier in the

Oil falls as US rate hike fears subside, China demand weighs
Uncategorized

Oil settles lower as US rate hike fears subside, China demand weighs

Oil prices settled lower on Thursday, with Brent crude holding close to January highs, as speculation about another U.S. interest rate hike faded following inflation data and OPEC remained positive on the oil demand outlook. Both benchmarks have been on a sustained rally since June, with West Texas Intermediate crude (WTI) trading on Thursday at its highest this year and Brent hitting its highest price since January. Brent crude fell $1.15, or 1.3%, to settle at $86.40 a barrel while WTI settled down $1.58, or 1.9%, at $82.82. Oil prices have been boosted in recent days

Oil settles lower as US rate hike fears subside, China demand weighs
Economy|Finance|News|World

Oil rises on tightening crude supply

Oil rose in early Asian trade on Wednesday, supported by tightening global crude supply ahead of a panel meeting of OPEC+ ministers.

Oil rises on tightening crude supply
Business|Economy|Finance|US

US gasoline prices could fall to $3 a gallon on oil selloff, rising stocks

U.S. gasoline prices are heading south and may hit $3 a gallon in many places in coming weeks with crude oil futures down $10 a barrel over economic fears and eroding

US gasoline prices could fall to $3 a gallon on oil selloff, rising stocks
Business

Analysis-Diesel release valve: China poised to save West from shortages again

As the northern hemisphere heads into winter, the U.S. and European oil sectors are counting on rising exports from Chinese refineries to ease tight global supplies of

Analysis-Diesel release valve: China poised to save West from shortages again
Business|Economy|News

US oil refiners crank out diesel, further squeezing margins for gasoline

U.S. oil refiners have cranked up output of diesel, heating oil and jet fuel for winter but are struggling to turn a profit because

US oil refiners crank out diesel, further squeezing margins for gasoline
Americas|Business|Economy|Finance|World

Oil traders race to negotiate deals after US eases Venezuela sanctions

Global energy traders are emerging as early buyers of Venezuela's stocks of crude and fuel oil following last week's

Oil traders race to negotiate deals after US eases Venezuela sanctions
Economy|Finance|MidEast|News|US|World

Oil settles down, posts weekly loss as geopolitical risk premium ebbs

Oil prices settled more than 2% lower on Friday as supply concerns driven by Middle East tensions eased, while jobs data raised expectations the U.S.

Oil settles down, posts weekly loss as geopolitical risk premium ebbs
Business|Environment|Technology|US

Analysis-US drive to make green jet fuel with ethanol stalled by CO2 pipeline foes

The U.S. drive to develop sustainable aviation fuel (SAF) using ethanol could be slowed because of growing opposition to proposed pipelines

Analysis-US drive to make green jet fuel with ethanol stalled by CO2 pipeline foes
Business|Economy|Finance

Oil settles lower ahead of OPEC+ decision

Oil fell

Oil settles lower ahead of OPEC+ decision
Business|Economy|Finance

Elliott takes $1 billion stake in US oil refiner Phillips 66, urges board revamp

Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is urging the U.S. oil refiner and pipeline operator to revamp its

Elliott takes $1 billion stake in US oil refiner Phillips 66, urges board revamp
Environment|Science|World

How electric vehicles are accelerating the end of the oil age

There is plenty of hand-wringing on display at the COP28 climate conference in Dubai about the slow pace of reducing the consumption of fossil fuels to fight climate

How electric vehicles are accelerating the end of the oil age
Business|Economy|Finance|MidEast|News|World

Oil rises on Red Sea tensions, US stock builds weigh

Global oil benchmark Brent hovered near $80 a barrel on Wednesday as investors worried about global trade disruption and tensions in the Middle East following attacks on

Oil rises on Red Sea tensions, US stock builds weigh
Business|Economy|News|US

Oil, gas lobby group warns against US slowing down LNG approvals

The head of the main U.S. oil and gas lobby group said on Wednesday that if U.S. regulators slow down or stop approving liquefied natural gas exports, they

Oil, gas lobby group warns against US slowing down LNG approvals
Business|Economy|Finance

Oil prices settle higher global demand forecasts, US crude stock draw

Oil prices settled higher on Thursday after the International Energy Agency (IEA) joined producer group OPEC in forecasting strong growth in global oil demand and as cold

Oil prices settle higher global demand forecasts, US crude stock draw
Business|Economy|Finance|US

Weaker fuel prices, outages to hit US refiners' fourth quarter profits

U.S. oil refiners are expected to report another quarter of lower earnings versus year-ago levels due to weaker fuel prices and after a proliferation of plant outages,

Weaker fuel prices, outages to hit US refiners' fourth quarter profits
Business|Economy|Finance|Stock Markets|US

US oil refiners beat Wall Street bets, expect demand to grow in 2024

Major U.S. fuelmakers beat Wall Street's earnings expectations in the fourth quarter on strong refining margins and operating performance, and they predicted profits

US oil refiners beat Wall Street bets, expect demand to grow in 2024
Asia|Business|Economy|Finance|Stock Markets|US

Oil prices fall on sticky inflation, bigger-than-expected US crude stock build

Oil prices fell in early Asian trade on Wednesday after a U.S. industry group reported crude stocks rose more than expected last week and as investors reined in

Oil prices fall on sticky inflation, bigger-than-expected US crude stock build
Business|Economy|Finance|US

Analysis-US refinery M&A stalls as buyers shun aging assets, uncertain future

The U.S. oil industry saw nearly $200 billion in upstream deals last year, but the refining sector missed out despite plenty of

Analysis-US refinery M&A stalls as buyers shun aging assets, uncertain future
Business|Economy|Finance

US diesel exports to Europe dip on plummeting refining output

A slump in U.S. refining activity and disruptions to global trade have tightened diesel supplies in recent weeks, dampening

US diesel exports to Europe dip on plummeting refining output
MidEast|News|World

Oil prices rise as Gaza deaths complicate ceasefire talks

Oil prices rose on Friday and were set to end the week modestly higher as talks over a potential ceasefire in Gaza were further complicated by the deaths of more than 100

Oil prices rise as Gaza deaths complicate ceasefire talks
Business|Economy|Environment|US

Chevron idles two US Midwest biodiesel plants as profits slip

Chevron has indefinitely idled two biodiesel production facilities in the U.S. Midwest, the company confirmed on Friday, citing poor market conditions.

Chevron idles two US Midwest biodiesel plants as profits slip
Business|Economy|Finance|News|US

US considers selling Northeast gasoline reserve in 2024 in draft bill

The United States may sell its 1 million barrel Northeast gasoline reserve in fiscal year 2024, according to the draft text of a funding bill released on Sunday.

US considers selling Northeast gasoline reserve in 2024 in draft bill
Business|Economy|Finance|Stock Markets|World

Oil fell slightly as China growth worries clash with output cuts

Oil prices fell slightly on Wednesday as concerns about demand growth in China, the world's biggest crude importer, clashed with signs of supply tightness amid output

Oil fell slightly as China growth worries clash with output cuts
Business|Economy|News|US|World

US pump prices set to climb on Russian refinery outages

Gasoline prices for U.S. motorists could jump by as much as 15 cents a gallon, with global fuel supplies tighter after Ukraine's recent attacks on Russian

US pump prices set to climb on Russian refinery outages

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