DIRS.INFO The most relevant business & tech news

☆ Oil prices rise more than 2% after US, Britain strikes in Yemen
▼ + stars: | 2024-01-12 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose more than 2% on Friday as the United States and Britain carried out strikes against Houthi military targets in Yemen in retaliation for attacks by the Iran-backed group on shipping in the Red Sea starting from late last year. The Houthi attacks in the Red Sea have disrupted international commerce on the key route between Europe and Asia, which accounts for about 15% of the world's shipping traffic. Since October, Houthis have attacked commercial vessels in the Red Sea to show support for Palestinian militant group Hamas in its fight against Israel. Shipping giant Maersk said on Thursday it will divert all vessels away from the Red Sea for the foreseeable future, warning customers of further disruptions. The Houthi attacks have been concentrated on the Bab al-Mandab Strait to the southwest of the Arabian Peninsula.

Persons: Joe Biden, Houthis Organizations: Brent, U.S, West Texas, Palestinian, Hamas, Israel . Shipping Locations: Midland , Texas, U.S, United States, Britain, Yemen, Iran, Red, Israel, Australia, Bahrain, Canada, Netherlands, Europe, Asia, Turkey, Mandab, Hormuz, Oman

☆ Giant ape’s extinction solved by new fossil analysis
▼ + stars: | 2024-01-10 | by ( Katie Hunt | ) edition.cnn.com time to read: +6 min

Many of the caves containing Gigantopithecus fossils have been found in Guangxi's distinctive karst landscape. “The early caves at 2 million years old have hundreds of teeth, but the younger caves around the extinction period — there are only 3-4 … teeth,” Westaway said. Isotope analysis of elements such as carbon and oxygen contained in the Gigantopithecus teeth helped the researchers understand how the animal’s diet may have changed over time. Kira Westaway/Macquarie UniversityQuestions remainNo Gigantopithecus fossils from the neck down have ever been found and documented. A November 2019 analysis of proteins found in a Gigantopithecus fossil suggested its closest living relative is the Bornean orangutan.

Persons: King Kong ” —, G.H.R, von Koenigswald, Gigantopithecus, “, ”, Renaud Joannes, Boyau, Yingqi Zhang, Kira Westaway, We’ve, Westaway, Zhang, ” Westaway, Feng Cave, It’s, Wang Wei, Wang Organizations: CNN, colossus, Southern Cross University, Macquarie University, Shandong University’s Institute of Cultural Heritage Locations: Hong Kong, China, Australia, Guangxi, Vietnam, Asia, Shandong, Qingdao, Indonesia, what’s, Bose

☆ Is it time to buy oil stocks? One trader reveals his top picks right now
▼ + stars: | 2024-01-08 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Energy stocks had a tough 2023, but one trader sees some good ways into the sector this year, naming opportunities in both oil and natural gas. Bill Perkins, CEO and head trader at Skylar Capital Management, said he's "mildly bullish" on oil, but identified several opportunities for retail investors. Outlook for oil Oil prices have been volatile over the past few months. Brent crude oil prices were trading around $77.98 a barrel on Friday. Natural gas Elsewhere within the energy space, Perkins also sees some opportunities in natural gas.

Persons: Bill Perkins, Perkins, Goldman Sachs, Jeff Currie, CNBC's, we're underinvested Organizations: Skylar Capital Management, Devon Energy, EOG, Diamondback Energy, Houthi, Brent, . Federal Reserve, Fed Locations: Asia, West Texas, New Mexico, EOG Resources, Red, Sea

☆ Delta beefs up Austin flights in battle for fast-growing airport
▼ + stars: | 2023-12-15 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Delta Air Lines is adding more flights next year at Austin-Bergstrom International Airport, in a bid to gain market share in one of the country's fastest-growing airports. The carrier plans to add 11 nonstop flights from Austin in April, giving it almost 50 peak-day flights, the airline said Friday. Flight additions include Midland-Odessa and McAllen in Texas, as well as Raleigh-Durham in North Carolina, Nashville and Cincinnati. "For us here at Delta, Texas has historically been a white space for opportunity on our network." Delta had a market share of close to 14% in Austin as of September, behind Southwest Airlines ' 40% share and American's 22%, according to airport data.

Persons: Eric Beck, Beck Organizations: Delta Air Lines, Austin, Bergstrom International Airport, American Airlines, IBM, Southwest Airlines Locations: Austin, Midland, Odessa, McAllen, Texas, Raleigh, Durham, North Carolina, Nashville, Cincinnati, Atlanta, Delta , Texas, U.S, Delta

☆ Occidental Petroleum to buy Permian producer CrownRock for $12 billion, raise dividend
▼ + stars: | 2023-12-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Occidental will issue $9.1 billion in debt and about $1.7 billion in common stock to finance the transaction. Occidental Petroleum on Monday agreed to buy CrownRock , a major privately held energy producer that operates in the Permian Basin, for $12 billion. Occidental CEO Vicki Hollub said the company is purchasing CrownRock to increase its scale in the Midland Basin. Occidental is the ninth-largest energy company in the U.S. with a market capitalization of $49.7 billion. Occidental's purchase of CrownRock is the third major deal in the energy sector in less than two months.

Persons: Vicki Hollub, Hollub, CNBC's, CrownRock, Timothy Dunn, Warren Buffett's, Warren Buffett's Berkshire Hathaway, Berkshire Hathaway, Buffett, Carl Icahn, Enverus, Weeks, Hess Organizations: Midland Basin, U.S . Energy Information Administration, U.S, Occidental Petroleum, Occidental, Endeavor Resources, Houston, Lime Rock Partners, Warren Buffett's Berkshire, Anadarko Petroleum, Exxon Mobil, Natural Resources, Chevron, Pioneer, Texas Intermediate, CNBC, Energy Information Administration Locations: Occidental, Midland, Texas, U.S, Warren, Berkshire, CrownRock

☆ FTC Investigates Exxon’s $60 Billion Deal for Pioneer
▼ + stars: | 2023-12-05 | by ( Dave Michaels | Collin Eaton | ) www.wsj.com time to read: 1 min

Exxon’s proposed takeover of Pioneer Natural Resources would make Exxon the largest oil producer in the Permian Basin of West Texas and New Mexico. Photo: Bloomberg NewsU.S. antitrust enforcers are investigating Exxon Mobil’s plan to acquire Pioneer Natural Resources , which would be the largest oil-and-gas deal in two decades, according to securities filings. The Federal Trade Commission has sought additional information from the companies about the deal, a step it takes when reviewing whether a merger could be anticompetitive under U.S. law, Pioneer disclosed in a filing Tuesday. Merger investigations on average take about 10 months to complete, according to data compiled by law firm Dechert.

Persons: Exxon’s Organizations: Pioneer Natural Resources, Exxon, Bloomberg News, Natural Resources, Federal Trade Commission Locations: West Texas, New Mexico

☆ Israel may try to drive Hamas out of its tunnels in Gaza by pumping them full of seawater: WSJ
▼ + stars: | 2023-12-05 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

Israel has a plan to flood Hamas tunnels in Gaza using seawater pumps, per The Wall Street Journal. Israel's military said the tunnel system is used to transport Hamas weapons and militants. Hamas' tunnel system, known as the "metro," is believed to extend some 300 miles. AdvertisementWim Zwijnenburg, who works for PAX, a Netherlands-based peace organization, told the Journal that flooding the tunnels could exacerbate that pollution. He added that hazardous substances stored by Hamas in the tunnels could also seep into the ground.

Persons: —, Israel, Jon Alterman, Wim Zwijnenburg Organizations: Street, Service, Israel, Hamas, Wall Street, Israel Defense Forces, IDF, Center for Strategic, International Studies, Reuters, PAX, Business Locations: Israel, Gaza, Hamas, Netherlands

Lujan Grisham said she'll ask the Legislature to set aside $500 million to underwrite acquisition of treated water. “We're going to turn water — this waste, which is a problem — into a commodity,” Lujan Grisham said at the conference. The state's oil wells draw out far more water than oil, by several multiples, according to oil field regulators. “Creating a state reserve of treated water for renewable energy projects merits serious consideration in the upcoming session,” Wirth said. New Mexico state government is navigating an unprecedented financial windfall from record setting oil production centered in the Permian Basin that extends across southeastern New Mexico and portions of western Texas.

Persons: Michelle Lujan Grisham, Lujan Grisham, she'll, “ We're, ” Lujan Grisham, “, James Kenney, ” Kenney, Peter Wirth of, Peter Wirth of Santa Fe, ” Wirth, Larry Scott, Hobbs Organizations: SANTA FE, —, Democratic, Gov, Dubai, United Arab, Tax, Fund, U.S, Lawmakers, Democratic Party, Republican Locations: SANTA, — New Mexico, United Arab Emirates, Rio, New Mexico, Peter Wirth of Santa, Texas

☆ I lost 100 pounds in a year by making 3 simple changes. Now I'm the active single dad I've always wanted to be.
▼ + stars: | 2023-12-04 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

He made a New Year's resolution to lose weight so that he could become a more active dad. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I'm a tall person, at 6-foot-4, but it wasn't enough of an excuse to weigh between 330 and 340 pounds. In common with a lot of people, my New Year's resolution was to lose weight and get in shape.

Persons: Todd Baker, —, Noah, Macy, I'm, I'd, Baker, he's, I've, it's Organizations: Service, Business Locations: Denver, Bahamas, Arapahoe

BATU PALANO, Indonesia (AP) — Rescuers searching the hazardous slopes of Indonesia's Mount Marapi volcano found more bodies among the climbers caught by a surprise eruption two days ago, raising the number of confirmed and presumed dead to 23. More than 50 climbers were rescued after the initial eruption Sunday, and 11 others were initially confirmed dead. Another eruption Monday spewed a new burst of hot ash as high as 800 meters (2,620 feet) into the air and temporarily halted search operations. The bodies of five climbers have been recovered, and 18 are presumed dead because they were so close to the eruption of hot gases and ash. Marapi spewed thick columns of ash as high as 3,000 meters (9,800 feet) in Sunday's eruption and hot ash clouds spread for several kilometers (miles).

Persons: BATU, ” Mardianto, Marapi, Gobah Cumantiang, Edna Tarigan Organizations: Rescuers, West, Rescue Agency, Indonesia's Center, Volcanology, Associated Press Locations: BATU PALANO, Indonesia, Indonesia's Mount, West Sumatra, Rubai, Jakarta

PADANG, Indonesia (AP) — Indonesia's Mount Marapi erupted with white-and-gray ash plumes Sunday, stranding and injuring climbers and spreading volcanic ash over several villages. About 75 climbers started their way up the nearly 2,900-meter (9,480-foot) mountain on Saturday and became stranded. Political Cartoons View All 1277 ImagesThe eruption sent ash plumes more than 3,000 meters (9,800 feet) into the air and hot ash clouds spread several miles (kilometers). Falling ash blanketed several villages and blocked sunlight, National Disaster Management Agency spokesperson Abdul Muhari said. Authorities distributed masks and urged residents to wear eyeglasses to protect them from volcanic ash, he said.

Persons: Marapi, Ahmad Rifandi, Indonesia’s Volcanology, Hari Agustian, Abdul Muhari, Gobah Cumantiang, Niniek, Mari Yamaguchi Organizations: Hazard Mitigation, Rescue Agency, Disaster Management Agency, Associated Press Locations: PADANG, Indonesia, Marapi, Padang, West Sumatra, Rubai, Jakarta, Tokyo

☆ Scientists Launch Research Effort at COP28 for Congo Rainforest
▼ + stars: | 2023-12-03 | by ( Dec. | At A.M. | ) www.usnews.com time to read: +2 min

By Jake SpringSAO PAULO (Reuters) - Hundreds of scientists at the United Nations COP28 climate summit on Sunday launched a research coalition aimed at correcting a historic lack of information about the Congo River basin and its rainforest, the second largest in the world. The Science Panel for the Congo Basin, backed by the United Nations Sustainable Development Solutions Network, aims to issue a report in 2025 that offers the most detailed scientific assessment to date about the Congo Basin. "Our current knowledge of the functioning of the Congo Basin ecosystem is really very, very limited." The Democratic Republic of the Congo, home to most of the forest, had the second highest rate of tree cover loss in the world last year after Brazil, according to Global Forest Watch. More than 300 scientists are expected to contribute to the Congo report, Tshimanga said.

Persons: Jake Spring, Raphaël Tshimanga, Tshimanga, Barbara Lewis Organizations: Jake Spring SAO PAULO, Reuters, United, Sunday, United Nations Sustainable Development Solutions, University of Kinshasa, Democratic, Global Forest Watch Locations: United Nations, Congo, Democratic Republic of the Congo, Brazil

An agent of the Brazilian Institute for the Environment and Renewable Natural Resources (IBAMA) inspects a tree extracted from the Amazon rainforest, in a sawmill during an operation to combat deforestation, in Placas, Para State, Brazil January 20, 2023. "Our current knowledge of the functioning of the Congo Basin ecosystem is really very, very limited." The Democratic Republic of the Congo, home to most of the forest, had the second highest rate of tree cover loss in the world last year after Brazil, according to Global Forest Watch. The scientific effort is modelled on the Science Panel for the Amazon that in 2021 issued a roughly 1,300 page report summarising the scientific consensus on the Amazon rainforest, the world's largest. More than 300 scientists are expected to contribute to the Congo report, Tshimanga said.

Persons: Ueslei Marcelino, Raphaël Tshimanga, Tshimanga, Jake Spring, Barbara Lewis Organizations: Brazilian Institute for, Environment, Natural Resources, REUTERS, SAO PAULO, United, Sunday, United Nations Sustainable Development Solutions, University of Kinshasa, Democratic, Global Forest Watch, Reuters, Thomson Locations: Placas, Para State, Brazil, United Nations, Congo, Democratic Republic of the Congo

PADANG, Indonesia (AP) — The bodies of 11 climbers were recovered Monday after a furious eruption of the Mount Marapi volcano as Indonesian rescuers searched for at least 22 others reportedly missing. About 75 climbers started their way up the nearly 2,900-meter (9,480-foot) mountain on Saturday and became stranded. West Sumatra’s Search and Rescue Agency head Abdul Malik said rescuers on Monday morning found 11 bodies of climbers as they searched for those who still missing and rescued three others. Political Cartoons View All 1277 Images“The evacuation process of the bodies and survivors are still ongoing,” he said, adding that rescuers are still searching for 22 climbers reportedly still missing. Authorities distributed masks and urged residents to wear eyeglasses to protect them from volcanic ash, he said.

Persons: Marapi, Hari Agustian, Abdul Malik, ”, Ahmad Rifandi, Indonesia’s Volcanology, Abdul Muhari, Gobah Cumantiang Organizations: Sunday, Rescue Agency, Hazard Mitigation, Disaster Management Agency Locations: PADANG, Indonesia, Agam district, West Sumatra, Padang, Marapi, Rubai

Finally Souza, an innkeeper and community leader in Bela Vista do Jaraqui, said he rallied two dozen neighbors to drill a 60-meter well in the heart of the world's largest freshwater basin. With rivers forming the backbone of transportation across the Amazon region, the drought has disrupted access to food and medicine in dozens of cities. The Amazon, the world's largest rainforest, is regarded by scientists as a bulwark against climate change because its dense vegetation absorbs carbon and emits oxygen. The five researchers predicting a 2026 recovery said the effects of the drought could endure even longer if El Nino is prolonged. That would release huge amounts of carbon dioxide, contributing to climate change and wiping out a wealth of plant and animal species found only in the Amazon.

Persons: Bruno Kelly, Raimundo Leite de Souza, Souza, Luiz Inacio Lula da Silva, Michael Coe, we're, El Nino, Coe, El, Philip Fearnside, Henrique Barbosa, Eduardo Taveira, Taveira, Paulo Brando, Brando, Barbosa, Brad Haynes, Jake Spring, Ana Mano, Andre Romani, Suzanne Goldenberg Organizations: REUTERS, Rights, Rio, cobras, United, Reuters, Research Center, National Institute of, Research, University of Maryland, Honda, LG, Positivo, GIANTS, Yale University, Sao Paulo, Thomson Locations: Tefe, Amazonas, Brazil, Rights MANAUS, caimans, Bela Vista, Guyana, Suriname, French Guiana, Venezuela, Colombia, United Nations, U.S, South America, South, Pacific, North America, El Nino, University, Baltimore, Western Europe, Brazil's Amazonas, Manaus, Itacoatiara, Madeira Rivers, Sao Paulo, Sao

"Since then, the United States has turned ambition into action." On the sidelines of the conference, the United States also unveiled new measures to curb emissions of the powerful greenhouse gas methane from oil and gas operations. That awkward coincidence underscores one of COP28's most contentious questions: Can the world's response to climate change involve continuing use of fossil fuels? Harris told the conference that the United States supports phasing out of "unabated coal" use, but she did not mention other fossil fuels. "We're in a context in which we need to reduce production of fossil fuels and ... we need to be on a path of lower consumption.

Persons: Kamala Harris, Joe Biden, Harris, haven't, aren't, Catherine Abreu, John Podesta, Richard Valdmanis, Valerie Volcovici, Sarah McFarlane, Simon Jessop, Katy Daigle, Kevin Liffey, Diane Craft Organizations: Climate Fund, OPEC, United, UAE, Saturday, Exxon Mobil, Saudi Arabia's Aramco, Oil, Climate Initiative, Reuters, Thomson Locations: DUBAI, United States, Dubai, COP26, America, China, Texas, New Mexico, United Arab Emirates, U.S, Saudi, Ukraine

☆ U.S. Oil Land Grab Continues
▼ + stars: | 2023-12-01 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Occidental’s talks to buy CrownRock follow a series of Permian basin deals inked this year. Photo: ANGUS MORDANT/REUTERSIt’s a seller’s market in the U.S. oil patch. Occidental Petroleum is in talks to buy CrownRock, one of the last remaining private companies of scale in the Permian basin, The Wall Street Journal reported on Wednesday. If the deal goes through, it would be the latest in a string of mergers and acquisitions this year, including Exxon Mobil ’s $64.5 billion purchase of Permian giant Pioneer Natural Resources .

Persons: Occidental’s, ANGUS MORDANT Organizations: REUTERS, Occidental Petroleum, Street, Exxon Mobil ’, Natural Resources Locations: U.S

☆ Oil prices fall, extend slide after OPEC+ cuts underwhelm
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: +2 min

An oil pumpjack pulls oil from the Permian Basin oil field in Odessa, Texas, on March 14, 2022. Oil prices fell in early Asian trade on Friday, extended losses after OPEC+ producers agreed to voluntary oil output cuts for the first quarter next year that fell short of market expectations. OPEC+'s output of some 43 million bpd already reflects cuts of about 5 million bpd aimed at supporting prices and stabilizing the market. The total curbs amount to 2.2 million bpd from eight producers, OPEC said in a statement after the meeting. Included in this figure is an extension of the Saudi and Russian voluntary cuts of 1.3 million bpd.

Persons: Alexander Novak Organizations: Brent, . West Texas, OPEC, Saudi Locations: Odessa , Texas, Saudi Arabia, Russia, UAE, Iraq, Kuwait, Kazakhstan, Algeria

Occidental Petroleum Chief Executive Vicki Hollub cut jobs and slashed spending after the company’s last major purchase in 2019. Photo: Nick Oxford/Bloomberg NewsOccidental Petroleum is in talks to buy CrownRock, a major energy producer in the west Texas area of the Permian basin, continuing a frenzy of deal making in the oil patch. A deal for the closely held company, which could be valued well above $10 billion including debt, could come together soon assuming the talks don’t fall apart or another suitor doesn’t prevail, according to people familiar with the matter.

Persons: Vicki Hollub, Nick Oxford, doesn’t Organizations: Occidental Petroleum, Bloomberg News Occidental Petroleum Locations: Texas

☆ I've spent 120 hours on overnight trains. Booking a private cabin is always worth the extra cost — whether it's $200 or $1,000.
▼ + stars: | 2023-11-30 | by ( Joey Hadden | ) www.businessinsider.com time to read: +4 min

On overnight trains, splurging for a private space is worth the price. In private cabins, travelers get a bed, a sink, a vanity, and sometimes a full bathroom. AdvertisementIf you want to sleep on an overnight train, book a private cabin. But when I've booked private cabins on Amtrak and Nightjet, ranging from $200 to $1,000, I've slept better with no disruptions. So I recommend private cabins to all travelers with rolling luggage, a nighttime routine, or a desire to sleep well.

Persons: I've, —, Joey Hadden Organizations: Service, OBB Nightjet, OBB, Amtrak Locations: Berlin, Vienna, Austria, Venice, Italy, Miami

The assessment could become politically divisive as it sets the stage for the next few years of global action in cutting planet-warming emissions. Based on the results, countries may be pressed to set more ambitious climate policies or to contribute more financing to help developing countries adopt clean energy. In September, the United Nations offered an early stocktake assessment that revealed countries were far behind in meeting climate goals. HOW WILL THE STOCKTAKE DRIVE CLIMATE ACTION? What then needs to be decided... what do we then do from here," Dan Jorgensen, Denmark's Global Climate Policy Minister, told Reuters.

Persons: Alex Flores, Claudia Morales, Dan Jorgensen, Kate Abnett, Katy Daigle, Josie Kao Organizations: REUTERS, Rights, United Nations, European Union, Policy, Reuters, Thomson Locations: Lake Titicaca, Bolivia, Rights DUBAI, Dubai, Paris

FORT LAUDERDALE, Fla. (AP) — A busy hurricane season that saw the National Hurricane Center in Miami issue the first-ever tropical storm warning for the coast of California and hurricane warnings as far north as Nova Scotia is coming to a close Thursday night. “The 2023 hurricane season does show that we can get impacts just about everywhere," said Michael Brennan, director of the hurricane center. A year earlier, a strong storm surge during Hurricane Ian resulted in multiple deaths and significant destruction across southwest Florida. She said she's more than relieved hurricane season is ending. “So it's either hurricane season, or you're getting ready for the next hurricane season," he said.

Persons: —, Michael Brennan, Hurricane Lee, Hurricane Otis, ” Brennan, Brennan, Ian, Danielle DeLoach, Nicole, DeLoach, “, they’re, ” DeLoach, they'll, ___ Fischer Organizations: National Hurricane Center, Hurricane, Florida Gulf, U.S . East, Atmospheric Administration, Ocean Locations: FORT LAUDERDALE, Fla, Miami, California, Nova Scotia, Southern California, Florida, Florida Gulf Coast, U.S . East Coast, New England, Mexico, Acapulco, Atlantic, Gulf Coast of Florida, Florida's, Tropic Shores, Daytona Beach Shores

☆ Occidental Petroleum in talks to buy Permian producer CrownRock - WSJ
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 29 (Reuters) - Occidental Petroleum (OXY.N) is in talks to buy CrownRock in a deal that could value the company well above $10 billion including debt, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Occidental did not immediately respond to a Reuters' request for comment on Wednesday, while CrownRock could not be immediately reached. CrownRock owns approximately 86,000 net acres in the northern part of the Midland basin, which is part of the Permian in Texas. Reporting by Shivani Tanna in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Timothy Dunn, CrownRock, Shivani Tanna, Sherry Jacob, Phillips Organizations: Occidental Petroleum, New York Stock Exchange, REUTERS, Wall Street, Reuters, Occidental, CrownRock, Thomson Locations: New York, U.S, Texas, Midland, Bengaluru

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel. U.S. West Texas Intermediate (WTI) crude futures lost 68 cents, or 0.9%, to $74.86. OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday, an OPEC+ source said on Monday. The Middle East crisis had impacted oil prices as investors worried about impacts on supply.

Persons: Angus Mordant, Rebecca Babin, Goldman Sachs, Arathy Somasekhar, Paul Carsten, Florence Tan, Mohi Narayan, Peter Graff, Mark Potter, Tomasz Janowski, Cynthia Osterman, David Gregorio Our Organizations: REUTERS, HOUSTON, Brent, . West Texas, Organization of, Petroleum, Reuters, Saudi, CIBC Private Wealth, ING, OPEC, United, International Energy Agency, Qatar, Hamas, U.S . Commodity Futures Trading Commission, Thomson Locations: Loving County , Texas, U.S, Saudi, Russia, OPEC, Saudi Arabia, United Arab Emirates, Iraq, Turkey, United States, Gaza, Houston, London

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel, while U.S. West Texas Intermediate (WTI) crude futures lost 68 cents, or 0.9%, to $74.86. "We still expect an extension of the unilateral Saudi and Russia cuts through at least the first quarter of 2024," the bank added. Higher crude stockpiles in the United States have also put downward pressure on prices, analysts said. The Middle East crisis had impacted oil prices as investors worried about impacts on supply.

Persons: Angus Mordant, Rebecca Babin, Goldman Sachs, Arathy Somasekhar, Paul Carsten, Florence Tan, Mohi Narayan, Peter Graff, Mark Potter, Tomasz Janowski, Cynthia Osterman Organizations: REUTERS, HOUSTON, Brent, U.S, West Texas, Organization of, Petroleum, Reuters, Saudi, CIBC Private Wealth, ING, OPEC, United, International Energy Agency, Qatar, Hamas, Thomson Locations: Loving County , Texas, U.S, Saudi, Russia, OPEC, Saudi Arabia, United Arab Emirates, Iraq, Turkey, United States, Gaza, Houston, London

Search resuls for: "basin"

25 mentions found