NEW YORKa -Oil settled modestly lower on Friday but secured a weekly gain on a stronger demand outlook and signs of economic recovery in China and the United States that offset concerns about rising COVID-19 infections in other major economies. Brent crude settled down 17 cents, or 0.3%, at $66.77 a barrel.
Investor David Einhorn said on Thursday that prominent venture capitalist Chamath Palihapitiya and entrepreneur Elon Musk threw "jet fuel" on the GameStop Corp (GME) trading frenzy in January when the video retailer's shares rose by 2,000% and later prompted a hearing in U.S. Congress.
U.S. oil producer Continental Resources suffered an oil and gas first-quarter production hit of about 6,000 barrels per day, it said on Tuesday, citing February's savage winter storm. A deep freeze in U.S. central and southern states disrupted power and gas supply and affected oil production, refineries and chemical plants for several weeks.
The following bids, mergers, ** China's Bilibili is in talks to buy a 24% stake in Yoozoo Games as part of a nearly 5 billion yuan deal, two people said, as the online video site aims to tap its legion of young users to grow in the world's top gaming market.
* MOODY'S ON N.AMERICA OIL & GAS SECTOR SAYS RESTRAINED OIL SUPPLY WORLDWIDE SUPPORTS POSITIVE MOMENTUM FOR OIL PRICES THROUGH AT LEAST 2021. * MOODY'S ON N.AMERICA OIL & GAS SECTOR SAYS OIL & GAS CORPORATE DEFAULTS EXPECTED TO DECLINE IN 2021.
Exxon Mobil (XOM) expects to restore its contribution to the U.S. employee retirement savings plan this year and does not plan another major set of layoffs, Chief Executive Darren Woods told employees in a meeting this week. The top U.S. oil producer last year slashed project spending and reduced output as it incurred a historic loss of $22.4 billion.
The Teamsters Union on Monday urged shareholders of oil refiner Marathon Petroleum Corp (MPC) to vote against an approval on executive compensation, arguing that the company provides outsized and unnecessary exit packages for top leaders.
-U.S. oil industry and labor representatives were on the hot seat on Thursday as the administration of President Joe Biden launched a formal review of the federal drilling program to weigh its value to taxpayers against its environmental costs.
Representatives from the oil and gas industry and national climate adviser Gina McCarthy struck a cooperative tone following a meeting on Monday where the two sides discussed how companies can align with the Biden administration's ambitious climate goals. Industry and White House officials after the meeting would not divulge details.
Brazil's real and Turkey's lira
outperformed broader emerging market peers on Thursday,
following interest rate hikes by their respective central banks,
while rising geopolitical tensions ...
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