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Tag Archives: U.S. oil production

Emirates airline says profits are up amid lower oil prices

DUBAI, United Arab Emirates (AP) — The Middle East’s biggest airline, Emirates, said Tuesday its profits were up by about 56 percent to $1.9 billion in the last fiscal year largely due to lower oil prices that drove down fuel operating costs. The Dubai government-owned airline said revenue, however, fell in 2015-2016 by four percent to $23.2 billion from $24.2 ...

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Top Bakken news stories – March 19 – April 1

top bakken news stories

Dear readers, happy Friday! Our Top 5 recap took last week off to observe the Easter holiday, but it’s back! To make up for lost time (drum roll, please), we present to you… The Top 8 Bakken News Stories of The Past Two Weeks! Why eight, you ask? Why not, we say. Check out the list below to see what ...

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US stocks are little changed in early trade; oil price rises

NEW YORK — U.S. stocks are wavering between small gains and losses Thursday morning following a sharp sell-off the day before. The price of oil is climbing for the third consecutive day as key oil-producing nations discuss cuts in production. Strong earnings are propelling Facebook and Under Armor higher. KEEPING SCORE: The Dow Jones industrial average was off 22 points, ...

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Oil and gas companies lead an early decline in US stocks

FILE - This Jan. 4, 2010, file photo, shows an entrance to a Wall Street subway station in New York. Strong U.S. jobs data continued to shore up stock markets on Monday, Dec. 7, 2015, as investors welcomed the growing certainty of an interest rate increase from the U.S. Federal Reserve the following week. Meanwhile, oil prices slid again after the OPEC oil cartel's decision to not cut production. (AP Photo/Mark Lennihan, File)

NEW YORK — U.S. stocks are dropping in early trading Monday as investors dump energy companies on lower oil prices. Benchmark U.S. crude is trading near its closing low for the year following a decision by OPEC last week not to cut production. KEEPING SCORE: The Dow Jones industrial average fell 114 points, or 0.4 percent, to 17,729 as of ...

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AAA fuels hopes of $1.99 gasoline

AAA predicts that gasoline prices might fall below two dollars per gallon

Within weeks, the national price of a gallon of gasoline will fall below $2 for the first time since 2009, AAA predicts. Barack Obama’s first term as president was in its infancy the last time gasoline prices were under $2, Balloon Boy had captured the attention of the nation and Michael Jackson was alive. It was also the year in ...

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Oil down on bets OPEC won’t cut output, gasoline rally supports

NEW YORK – Crude futures were down on Tuesday on bets that OPEC will not cut output to stem a supply glut when the world’s biggest oil producers meet this week, although a rally in U.S. gasoline and a weak dollar limited losses on the petroleum complex. Trading has been sluggish ahead of the Organization of the Petroleum Exporting Countries’ ...

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Green investors take note: climate-focused mutual funds dabble in oil

BOSTON – Several of the world’s biggest climate-focused mutual funds have stakes in traditional oil and gas companies mixed in with their solar, wind and clean tech holdings, a potential shock to green investors seeking to avoid fossil fuels altogether. Six of the 20 biggest funds that mention “climate change” or “global warming” in their titles or marketing materials have ...

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Oil rises on Middle East tensions, weaker U.S. dollar

LONDON – Oil prices rose three percent on Tuesday as tensions in the Middle East escalated following the downing of a Russian fighter jet near the Syrian-Turkish border, and a weaker dollar provided an incentive for investors to buy more oil. Brent futures for January were trading at a near two-week high of $46.23 a barrel at 1420 GMT, a ...

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Hedge funds turn very bearish on U.S. crude: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Hedge funds and other money managers had amassed short positions in U.S. crude oil amounting to 154 million barrels by last Tuesday according to data from the U.S. Commodity Futures Trading Commission (CFTC). Short positions have increased more than 70 percent since the middle of ...

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