Oil Slips Despite Positive Chinese Data as Rate Cut Concerns Weigh on Sentiment
Oil prices were lower in Europe despite upbeat Chinese trade data and heightened tensions in the Middle East after the first fatal attack on Red Sea shipping.
Exxon Files for Arbitration Over Chevron's Deal for Hess
Dispute involving a stake in an oil project in Guyana intensifies, threatening to scuttle Chevron's $53 billion deal to buy Hess.
U.S. Crude Oil Stocks Rose by 1.4 Million Barrels Last Week
U.S. crude oil inventories rose by 1.4 million barrels, edging out expectations for a rise of 1.3 million barrels.
GE Spinoff Vernova Predicts Doubling of Electricity Production
Power-generation firm GE Vernova provided some guidance to investors and analysts. Jefferies analyst Sheila Kahyaoglu reckons each share is worth about $112.
Tullow Oil Profit Plunges
Tullow Oil reported a 78% fall in profit for 2023, hit by impairments and write-offs totaling $435 million, but backed its output guidance for the year ahead.
Chevron Plant Closures Show Clean Fuel's Tough Economics
The biodiesel business has been hurt by falling prices for government-controlled credits.
Saudi-Led Oil Producing Nations Extend Output Cuts
Saudi Arabia, United Arab Emirates, Kuwait, and Algeria all decided to extend their voluntary production cuts through the end of June, instead of easing them at the end of March.
Gunvor Unit to Pay $661 Million After Pleading Guilty in Bribery Scheme
The U.S. Justice Department said that Gunvor SA was charged with conspiring to bribe officials of Ecuador's state-owned oil company in order to obtain contracts to buy oil products.
Plug Power resolves 'going-concern' issue, but latest results underwhelm
The alternative-energy company missed the mark with its annual results.
Global CO2 Emissions Hit Record High in 2023, IEA Says
Declines in Europe and the U.S. were offset by increases in China and India.
(END) Dow Jones Newswires
03-07-24 0715ET
