Latest Oil and gas industry News

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...

California governor seeks explanation for high gas prices

Apr. 23, 2019 8:46 PM EDT

SACRAMENTO, Calif. (AP) — California's governor wants to know why gas prices are higher than in the rest of the country, blaming potential "inappropriate industry practices" Tuesday rather than the state's higher taxes and tougher environmental regulations. Democratic Gov. Gavin Newsom asked the California...

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...

Gas pipeline resumes service after sinkhole-related shutdown

Apr. 23, 2019 12:50 PM EDT

HARRISBURG, Pa. (AP) — Service is resuming on a pipeline ferrying natural gas liquids across southern Pennsylvania after a sinkhole in January exposed a portion of the Mariner East 1 pipeline. Texas-based Energy Transfer LP said it resumed service Tuesday, three months after state regulators ordered a...

Small plane's round-the-world flight to begin in Pittsburgh

Apr. 23, 2019 10:58 AM EDT

PITTSBURGH (AP) — When British-born Ross Edmondson decided to take on the challenge of flying around the world in a single-engine aircraft, he decided the best place to start the journey was Pittsburgh. Edmondson, 35, a natural gas project engineer for Shell Oil Co., moved to Pittsburgh in 2012 when the...

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...