Rate Cut Euphoria Fades as Oil Prices Jump 3.5% – OilPrice.com
U.S. futures started the week with a modest gain, with small caps leading the way. Last week’s gains were fueled by investor enthusiasm after Fed Chairman Jerome Powell’s dovish tone at Jackson Hole, which spurred investors to buy stocks, but the momentum has since faded. As of 8 a.m. ET, S&P 500 futures were up […]
Oil prices rise with no Gaza ceasefire in sight – Investing.com
Investing.com — Oil prices rose in Asian markets on Monday, continuing a rebound from the previous day’s trading as media reports showed no progress towards a ceasefire between Israel and Hamas and hostilities continued in the region. Oil markets also rose on optimism about lower U.S. interest rates after Federal Reserve Chairman Jerome Powell’s comments […]
Graham: Israel should threaten to ‘blow up’ Iran’s oil refineries if hostages don’t come home
Senator Lindsey Graham (R-Israel) has recommended that Israel threaten to “blow up” Iranian oil refineries if the remaining hostages held by Hamas in the October 7 terror attacks are not released immediately. Appearing on CNN’s “State of the Union,” Graham was asked to comment on reports that the Israeli military had preemptively destroyed thousands of […]
Oil Buying Opportunity May Have Arrived Citi – OilPrice.com
Oil prices have fallen, with Brent crude trading at around $77 a barrel, leading some market analysts to see a short-term buying opportunity. Despite a recent easing in geopolitical tensions, this price pressure is likely a precursor to a rebound, according to an Aug. 21 Citi Research report seen by Investing.com. The recent price decline […]
Pentagon blasts Houthis for striking oil tanker, creating 'environmental disaster'
The US Defense Department on Thursday slammed Houthi rebels for causing an “environmental disaster” by attacking an oil tanker in the Red Sea, after a merchant ship carrying 1 million barrels of crude oil burst into flames. Deputy Defence Ministry spokeswoman Sabrina Singh told reporters that Wednesday’s Houthi attack on the merchant ship Sounion threatened […]
Greek Oil Tanker Drifting and Ablaze After Red Sea Attacks
DUBAI, United Arab Emirates (AP) — A Greek-flagged oil tanker sailing in the Red Sea came under repeated attack Wednesday in attacks suspected to be carried out by Yemen’s Houthi rebels, leaving the ship “out of command” and adrift on fire, the British military said. The most serious attack in the Red Sea in recent […]
NY weighs charging oil firms billions of dollars to fuel new climate change fund
Governor Kathy Hawkle Decide now Whether to approve a controversial bill that would force oil, natural gas and coal companies to pay billions of dollars to the state for contributing to climate change. Supporters liken the plan — a proposed Climate Change Superfund — to the federal Superfund program that has sought to hold polluters […]
Oil Prices on Course for a Weekly Gain as Economic Optimism Returns – OilPrice.com
Crude oil prices are on track to post a weekly gain early today as optimism returned to the oil market following several better-than-expected reports on the US economy. One of them was a report of retail sales in July, which rose 1% compared to the expected 0.3% increase, Reuters reported. ReportedThe increase was more notable […]
Climate disaster survivors urge Merrick Garland, DOJ to prosecute Big Oil
Survivors of “climate disaster” are calling on federal prosecutors to take fossil fuel companies to court. More than 1,000 signatories on ThursdayletterDepartment of Justice employees have experienced wildfires, floods, and heat waves caused or exacerbated by the burning of fossil fuels. Big oil companies “have known the dangers of burning fossil fuels since the 1950s,” […]
Four Georgia men arrested for stealing cooking oil in bulk: Police
Four men were arrested in Cartersville, Georgia, after allegedly stealing large quantities of cooking oil from multiple businesses, police said. According to Cartersville Police, four suspects, Carlos Laguna, 41, of Buford, Freddy Valencia Aguirre, 36, of Tucker, Luis Gaitan Obando, 41, of DeKalb County, and Yuniel Elius Aguirre Polanco, 24, of Atlanta, are suspected of […]