Citigroup Inc. claims wildcards including war, Middle East tensions, Donald Trump and Kim Jong Un driving crude toward $80 a barrel. According to an article in Bloomberg Markets, “After prices were boosted by OPEC’s output curbs in 2017, the U.S. President has shifted the focus to geopolitical risks, with his pursuit of sanctions on Iran …
Share on FacebookShare on Twitter Stocks fell around the world, with the Dow Jones Industrial Average falling more than 250 points as oil’s renewed plunge toward $30 a barrel in New York rekindled concern that global growth is slowing. Treasuries rose with the yen. The Dow average tumbled as Exxon Mobil Corp. fell after reporting …
The scramble for the safety of U.S. debt is back on. The benchmark 10-year Treasuries yield slid to the lowest in almost 10 months as stocks and oil resumed declines that have dimmed investors’ outlook for global economic growth. The diminished confidence added to doubts about the Federal Reserve’s projected pace for interest-rate increases this …
CGG SA, the troubled French oilfield surveyor, said it will sell as much as 350 million euros ($379 million) of new shares at a 72 percent discount to finance its turnaround plan as a slump in crude prices curbs demand for its services from exploration companies. “This capital increase of 350 million euros will be …
Lawmakers in Washington are pushing a tax break for oil refiners as part of a compromise allowing unfettered crude-oil exports for the first time in 40 years. Sen. Tom Carper, D-Del., proposed a tax credit of up to $3 a barrel to independent refiners that would be harmed if Congress abolishes U.S. crude-export restrictions. A …
OSLO—The International Energy Agency’s executive director said Monday that global oil and gas investments were expected to drop in 2015 and 2016, marking the first two-year spending decline in decades, and he warned of the long-term impact on supply. “We have never seen this in the last 30 years, two consecutive years of investment decline,” …