Latest Oil and gas industry News

Stocks move sideways on Wall Street after record-setting day

Apr. 24, 2019 10:35 AM EDT

NEW YORK (AP) — U.S. stocks followed a record-setting day with more subdued trading Wednesday as investors continue digesting a steady flow of corporate earnings and a potential break in the trade war between the U.S. and China. Stocks are essentially stalling and bond prices are rising as investors pull...

Markets Right Now: Stocks open slightly lower on Wall Street

Apr. 24, 2019 9:44 AM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 9:35 a.m. Stocks are opening slightly lower on Wall Street, a day after the S&P 500 surpassed the record high close it set in September. Several companies were making big moves after reporting their quarterly results...

Rehab patients' unpaid work for big companies likely illegal

Apr. 24, 2019 9:22 AM EDT

A nationally renowned drug rehab program in Texas and Louisiana has sent patients struggling with addiction to work for free for some of the biggest companies in America, likely in violation of federal labor law. The Cenikor Foundation has dispatched tens of thousands of patients to work without pay at more than...

Iranian leaders defiant in face of Trump's move on sanctions

Apr. 24, 2019 7:35 AM EDT

TEHRAN, Iran (AP) — Iranian leaders are defiant in the wake of President Donald Trump's decision to impose sanctions on countries that import Iranian oil, vowing to respond to America's move. The U.S. announced the sanctions in November but some countries got temporary waivers that allowed them to import...

China tells US to avoid 'wrong moves' over Iran oil controls

Apr. 24, 2019 5:06 AM EDT

BEIJING (AP) — China has told Washington to avoid "wrong moves" that hurt Chinese interests following a U.S. threat to impose sanctions on buyers of Iranian oil. A foreign ministry spokesman, Geng Shuang, said Wednesday that Beijing opposes the Trump administration's "unilateral sanctions and so-called...

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...