Latest Oil and gas exploration and extraction News

Stocks mixed, oil down as markets await news on Saudi plant

Sep. 17, 2019 6:59 AM EDT

BANGKOK (AP) — World shares were mixed on Tuesday and oil prices eased back pending updates on restoring output at a Saudi Aramco oil processing plant damaged by an attack over the weekend. Chinese benchmarks led declines in Asia after the credit ratings agency Moody's downgraded Hong Kong, citing its...

As illnesses spread, fake vape gear sells on LA streets

Sep. 17, 2019 5:35 AM EDT

LOS ANGELES (AP) — A short walk from police headquarters in the heart of downtown Los Angeles, a cluster of bustling shops are openly selling packaging and hardware that can be used to produce counterfeit marijuana vapes that have infected California's cannabis market. Bootleggers eager to profit off...

Trump rallies backers in New Mexico in bid to turn state red

Sep. 17, 2019 2:34 AM EDT

RIO RANCHO, N.M. (AP) — President Donald Trump made a pocketbook appeal for reelection in the Democratic-leaning state of New Mexico on Monday, telling voters that his energy policies have made the state wealthier and warning that the gains could disappear if the proposal known as the Green New Deal takes...

Asian shares weaker after spike in crude oil rattles market

Sep. 17, 2019 12:48 AM EDT

BANGKOK (AP) — Shares were mostly lower in Asia on Tuesday after an attack on Saudi Arabia's biggest oil processing plant caused crude prices to soar, prompting selling of airlines and other fuel-dependent industries. The U.S. and international benchmarks for crude fell back slightly after vaulting more...

Oil prices jump as attack on Saudi plant jolts supply

Sep. 16, 2019 7:35 PM EDT

Global energy prices spiked more than 14% Monday after a weekend attack on key oil facilities in Saudi Arabia caused the worst disruption to world supplies on record. It was an increase on par with the 1991 Gulf War and analysts said heightened tensions in the Middle East could keep prices elevated for the...

Trump: It looks like Iran hit Saudis, no military option yet

Sep. 16, 2019 6:47 PM EDT

WASHINGTON (AP) — President Donald Trump declared Monday it "looks" like Iran was behind the explosive attack on Saudi Arabian oil facilities. But he stressed that military retaliation was not yet on the table in response to the strike against a key U.S. Mideast ally. Oil prices soared worldwide amid the...

Walz signs order creating Governor's Biofuels Council

Sep. 16, 2019 4:29 PM EDT

PLATO, Minn. (AP) — Gov. Tim Walz is setting up a council to advise him on how to foster the growth of Minnesota's biofuels industry. The Governor's Biofuels Council will have 15 members, including representatives of the agriculture, biofuels and transportation industries, as well as environmental and...

Markets Right Now: Stocks fall as oil prices spike

Sep. 16, 2019 4:12 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing lower Monday as a spike in oil prices raises fresh worries about the strength of the global economy. The U.S. and international benchmarks for crude oil each rose more than 14% after a weekend...

The Latest: Trump says it's 'looking like' Iran is to blame

Sep. 16, 2019 3:59 PM EDT

WASHINGTON (AP) — The Latest on tensions in the Persian Gulf and the fallout after weekend attack on major oil sites in Saudi Arabia (all times local): 3:35 p.m. President Donald Trump says it's "looking like" Iran was responsible for the attacks on key oil installations in Saudi Arabia, but he says he...

With Trump trade war a threat, Fed is set to cut rates again

Sep. 16, 2019 12:38 PM EDT

WASHINGTON (AP) — For a second straight time, the Federal Reserve is set to cut interest rates this week to try to protect the economy from the consequences of a global slowdown and President Donald Trump's trade war with China. After that, no one — not even the Fed itself — seems sure what...