Latest Oil and gas industry News

S&P 500, Nasdaq close at record highs as earnings roll in

Apr. 23, 2019 7:54 PM EDT

The S&P 500 hit an all-time high Tuesday, marking the stock market's complete recovery from a nosedive at the end of last year. The benchmark index's previous record was set last September, shortly before the market sank in the fourth quarter amid fears of a recession, an escalating trade war between the U.S....

Oil prices climb in wake of Iranian oil sanctions decision

Apr. 23, 2019 5:55 PM EDT

NEW YORK (AP) — Global oil prices are rising in the wake of President Donald Trump's decision to impose sanctions on nations that import Iranian oil and could eventually climb to levels that would impact American consumers. Analysts said Tuesday that by taking Iranian crude off the market, the price of...

Board faults utility's equipment in fatal 2016 explosion

Apr. 23, 2019 5:02 PM EDT

FALLS CHURCH, Va. (AP) — A gas company's faulty equipment is the most likely cause of an explosion at a suburban Maryland apartment complex that killed seven people in 2016, according to federal report issued Tuesday. The explosion and fire at the Flower Branch apartments in Silver Spring caused a partial...

The Latest: Analysts: Iran sanctions bullish for oil prices

Apr. 23, 2019 10:11 AM EDT

FRANKFURT, Germany (AP) — The Latest on the U.S. move to end Iran sanction exemptions (all times local): 4 p.m. Energy analysts at Raymond James & Associates are warning that U.S. imposition of tougher Iranian oil sanctions is "unambiguously bullish" for the price of oil. The analysts say in a report...

Oil prices spike further after US move on Iran buyers

Apr. 23, 2019 7:56 AM EDT

LONDON (AP) — Oil prices remained near six-month highs Tuesday in the wake of the Trump administration's announcement that it would soon impose sanctions on all buyers of Iranian oil. On Monday, the Trump administration said it would no longer exempt any countries from U.S. sanctions if they continue to...

India to observe US sanctions on Iranian oil

Apr. 23, 2019 7:46 AM EDT

NEW DELHI (AP) — India said Tuesday it will buy crude oil from other major oil producing countries in view of the United States' decision this week to end waivers that allowed it to buy Iranian oil without facing U.S. sanctions. External Affairs Ministry spokesman Raveesh Kumar said the Indian government...

UN panel pays $240M to Kuwait oil firm for Iraq war losses

Apr. 23, 2019 6:14 AM EDT

BERLIN (AP) — A U.N. panel overseeing compensation claims by countries and organizations affected by Iraq's 1990-1991 invasion of Kuwait says it has paid $240 million to the Gulf state's national oil company. The United Nations Compensation Commission said Tuesday that the latest tranche brings to $48.3...

China lashes out at US over Iran oil sanctions move

Apr. 23, 2019 5:21 AM EDT

BEIJING (AP) — Beijing on Tuesday again lashed out at a U.S. decision to impose sanctions on countries that buy Iranian oil, calling it a violation of China's interests that will intensify turmoil in the Middle East and international energy markets. Foreign ministry spokesman Geng Shuang said the U.S. is...

Asian stocks mixed, oil soars on Iran sanctions worries

Apr. 22, 2019 11:35 PM EDT

SINGAPORE (AP) — Asian stocks were mixed on Tuesday while oil prices soared to their highest level since October after the U.S. said it would soon impose sanctions on all buyers of Iranian oil. Japan's Nikkei 225 index lost 0.2% to 22,165.41. The Kospi in South Korea was less than 0.1% higher at 2,217.31...

11 protesters arrested after blocking railroad tracks

Apr. 22, 2019 9:23 PM EDT

PORTLAND, Ore. (AP) — Police arrested 11 protesters who had blocked railroad tracks in Northwest Portland since Sunday and demanded local action in response to climate change. The Oregonian/OregonLive reports the protesters were part of a local chapter of Extinction Rebellion, an environmental activist...