Latest Oil and gas industry News

US stocks skid as industrial and energy companies fall

Jun. 21, 2018 10:32 AM EDT

NEW YORK (AP) — U.S. stocks are lower Thursday as investors again worry about the potential effects of the U.S.-China trade dispute. German automaker Daimler lowered its annual profit forecast, partly because of higher import taxes on U.S. vehicles in China. Industrial companies are taking more losses....

Markets Right Now: Energy and industrial companies dip

Jun. 21, 2018 9:53 AM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 9:35 a.m. U.S. stocks are opening lower as energy companies fall with oil prices and industrial companies slip as investors focus on the U.S.-China trade dispute. Boeing and Caterpillar both fell 1.3 percent Thursday after...

Stocks mostly lower amid caution over US-China tensions

Jun. 21, 2018 8:24 AM EDT

TOKYO (AP) — Global stock markets were mostly lower Thursday amid concern over the trade tensions between the U.S. and China. KEEPING SCORE: France's CAC 40 was down 0.4 percent at 5,349 and Germany's DAX shed 0.7 percent to 12,601 after Daimler warned about its outlook due to Chinese tariffs on its...

East Libya forces say regain control over oil ports

Jun. 21, 2018 6:13 AM EDT

CAIRO (AP) — Libya's self-styled national army in the east says it has regained control over two key oil port terminals after militias attacked them a week ago. Spokesman Ahmed al-Mesmari said on Thursday that the LNA, under the command of Field Marshal Khalifa Hifter, currently controls the Ras Lanuf and...

Asian stocks mostly up despite underlying US-China tension

Jun. 21, 2018 1:45 AM EDT

TOKYO (AP) — Asian stock markets mostly rose Thursday as concern fades over the trade tensions between the U.S. and China. Uncertainty remains, but the original tariff threats made earlier in the week were not followed by material action. KEEPING SCORE: Japan's benchmark Nikkei 225 index rose 0.8 percent...

Clarification: Commerce Secretary-Russian Company story

Jun. 20, 2018 3:36 PM EDT

WASHINGTON (AP) — In stories June 19 and 20, The Associated Press described the Russian company Sibur as a gas producer. The stories should have made clear that Sibur's gas production is only one of its activities. It is a petrochemicals company that produces liquefied petroleum gas as well as chemical...

Asian stocks take breather from trade tension; markets mixed

Jun. 19, 2018 11:26 PM EDT

SINGAPORE (AP) — Asian markets were mixed on Wednesday as traders sidelined tariffs that the U.S. and China have threatened to impose on one another, focusing on positive housing data instead. KEEPING SCORE: Japan's benchmark Nikkei 225 index rose less than 0.1 percent to 22,287.42 and South Korea's Kospi...

After query, Ross shorted stock in Kremlin-tied firm: report

Jun. 19, 2018 9:14 PM EDT

WASHINGTON (AP) — Commerce Secretary Wilbur Ross made a trade betting that the stock in a shipping company with Russian-government ties would fall, a transaction coming just days after he learned of a possible negative news story about his investment in the company. Ross reported on a government form...

Iran rebuffs Trump's call for OPEC to increase oil output

Jun. 19, 2018 4:44 PM EDT

VIENNA (AP) — Iran lashed out Tuesday against U.S. President Donald Trump's call on OPEC to increase oil production and limit global energy prices, saying the cartel "is not an American organization." The OPEC oil ministers began arriving in Vienna on Tuesday ahead of their official meeting Friday, when...

Asian stocks tumble after new Trump tariff threat

Jun. 18, 2018 11:37 PM EDT

BEIJING (AP) — Asian stocks tumbled Tuesday after U.S. President Donald Trump escalated a dispute with Beijing over technology policy by threatening a tariff hike on additional Chinese goods. KEEPING SCORE: The Shanghai Composite Index fell 2.3 percent to 2,953.54 points and Hong Kong's Hang Seng lost 2...