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Dow positive for 2016, oil closes above $40

Energy stocks rise, oil reaches highest price this year

NEW YORK (AP) — Oil closed above $40 a barrel and another surge in U.S. stocks Thursday turned the Dow Jones industrial average positive for the year and wiped out its losses from a terrible start to 2016. The price of gold and silver and oil jumped, boosting materials and energy companies. The dollar continued to weaken, boosting industrial companies ...

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US stocks edge higher, oil prices drop

us stocks, oil, prices

NEW YORK (AP) — More positive earnings surprises from U.S. companies are helping send stocks higher in early trading. European stocks rose after the European Central Bank announced more stimulus measures and oil prices fell after making gains yesterday. KEEPING SCORE: The Dow Jones industrial average climbed 67 points, or 0.4 percent, to 17,068 as of 10:19 a.m. Eastern time. ...

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EIA forecasts short-term energy outlook

EIA forecasts short-term energy output

The U.S. Energy Information Administration released its short-term energy outlook Tuesday. The report forecasts oil and natural gas production for the next two years. North Sea Brent crude oil prices averaged $32 per barrel, a $1 increase from January prices. Brent crude prices are predicted to average $34 in 2016 and $40 in 2017. The forecast reflects higher –than-expected oil ...

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Oil prices climb third-straight day

Oil prices climb third-straight day

NEW YORK — U.S. stocks rose Thursday as oil prices climbed for the third day in a row while key oil-producing nations discussed cuts in production. Tech and consumer stocks traded higher, led by Amazon and PayPal, while drugmakers fell. Facebook made its biggest leap in two and a half years after it said its profit more than doubled in the ...

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Oil prices edge down as slowing demand adds to high output

SINGAPORE – Crude oil futures came under renewed pressure early on Tuesday as fears of slowing demand added to near-record global production levels, which have already slashed prices by two-thirds since the middle of last year. Front-month U.S. West Texas Intermediate (WTI) futures CLc1 were trading at $36.75 per barrel at 0105 GMT, down 6 cents from Monday’s close. The ...

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Oil up after U.S. crude stocks drop, still close to multi-year lows

Oil up after U.S. crude stocks drop, still close to multi-year lows

LONDON – Oil prices rose on Wednesday, underpinned by an unexpected fall in U.S. crude inventories, but were still close to multi-year lows as supplies remained abundant and as OPEC lowered the demand outlook for its exports. At 1448 GMT, Brent crude futures were up 87 cents at $36.88 a barrel, while West Texas Intermediate (WTI) futures <CLc1> were up ...

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Oil prices have New Mexico producers eyeing cuts

CARLSBAD — With the latest drop in crude oil prices, a decline in gas prices will surely follow. Although cheaper gas may make many consumers happy nationwide, oil and gas producers in Southeast New Mexico are not ecstatic about the news. “It’s not getting any better,” Raye Miller, president of Regeneration Energy Corporation in Artesia said. The decline comes after ...

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Oil falls as spotlight returns to growing glut

NEW YORK – Crude oil futures fell back towards $45 per barrel on Wednesday as the dollar gained and investor focus shifted back to a deep global supply glut. Brent <LCOc1> was down 57 cents at $45.55 a barrel at 1554 GMT, having touched a low of $45.11. The benchmark hit its highest since Nov. 11 at $46.50 on Tuesday ...

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