Oil Weakens Anew in Europe
Oil prices fell 0.5% to session lows in early European action after rather quiet Asian trading.
Saudis to Back OPEC Output Cuts, Despite Tanker Attacks
Saudi Arabia is set to push for OPEC to cut oil output in the second half of the year, as signs of slowing global demand for crude outweigh threats of war and worries about supply disruptions in the Middle East.
Gulf of Oman Tanker Attacks Roil Mideast Oil Market
Days after attacks crippled two fuel tankers in the Gulf of Oman, fewer vessels were leaving ports and daily freight rates for oil supertankers were as much as 50% higher, shipping brokers said, highlighting the new heightened risks of transporting crude through Middle Eastern waters.
Exxon, Chevron, Amazon Targeted by Investors Over Environmental Disclosures
Some of the world's biggest companies are coming under fire from 88 investors with nearly $10 trillion in assets, including HSBC Global Asset Management and the Washington State Investment Board, for not providing standardized environmental disclosures.
Oil Prices Fall on Global Demand Worries
U.S. oil prices settled lower as worries about a reduction in global demand outweighed continued geopolitical uncertainty surrounding Iran.
Keane and C&J Energy Services to Combine
C&J Energy Services and Keane Group have agreed to combine in an all-stock transaction to create a diversified oilfield services company with an equity value of about $756 million.
Oil's Slide Highlights Global-Growth Fears
Oil prices have remained soft this month despite rising geopolitical tensions and threats of supply disruptions, the latest sign that investors fear trade friction will hit global growth and sap demand for crude.
Japan Firms Urge Country to Adopt Renewable Power
Twenty major Japanese companies are calling on the country to source half of its electricity from renewables by 2030.
AGL Energy Drops Takeover Bid for Vocus
Struggling telecommunications provider Vocus Group Ltd. has lost another suitor after AGL Energy Ltd. said it had withdrawn a nonbinding takeover offer and ceased due-diligence work on a bid.
Gulf of Oman Attacks Force Shipping Firms to Tighten Security
Governments and tanker companies are stepping up efforts to protect shipping lanes after tankers were attacked near the Strait of Hormuz, through which more than a third of the world's seaborne oil is shipped.