Trade Impasse Sends Oil Prices Lower
Oil prices dropped Tuesday as concerns mounted over the China-U.S. trade impasse and as Hurricane Dorian rumbled along a path that should keep it from disrupting production in the Gulf of Mexico.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
Aramco Replaces Chairman as IPO Planning Heats Up
Saudi Arabia is removing Energy Minister Khalid al-Falih as chairman of its state-owned oil giant, a surprise shift as plans for an initial public offering accelerate.
Iranian Tanker Prepares to Offload Oil to Syria-Bound Ships
The Iranian oil tanker released from Gibraltar over U.S. objections earlier this month is set to offload its cargo to smaller vessels that will take the crude to Syria, potentially violating the terms of its release, according to people familiar with its plans.
Cheap Gas Revs Up Consumers, Boding Well for U.S. Economy
Drivers hitting the road this Labor Day weekend will enjoy the cheapest gasoline prices in three years, a boon to consumers as fears of recession buffet Wall Street.
U.S. Oil Rig Count Falls by 12 in Latest Week to 20-Month Low
The number of rigs drilling for oil in the U.S. fell by 12 in the past week to 742, a 20-month low, according to oil-field services company Baker Hughes.
Energy Bankruptcies Rise as Investors Lose Taste for Shale
Bankruptcies are rising in the U.S. oil patch as Wall Street's disaffection with shale companies reverberates through the industry.
U.S. Issues Sanctions Over Alleged Fuel Shipments to North Korea
The U.S. placed sanctions on several Taiwanese- and Hong Kong-based firms and associated individuals for allegedly covertly shipping fuel to North Korea in violation of United Nations sanctions.
Mexico's President Under Pressure to Soften His Oil-Industry Stance
Several top officials of President Andrés Manuel López Obrador's government have stepped up efforts in recent weeks to convince the nationalist leader to give private investors a bigger role in Mexico's oil sector.
Aramco Plans Split IPO, Shunning London, Hong Kong
Saudi Aramco is considering a plan to split the world's largest IPO into two stages, debuting a portion of its shares on the Saudi stock exchange later this year and following up with an international offering in 2020 or 2021.