Energy News Results

  • Copper Slips, Halting Sharp Rebound

    Copper prices fell Friday, signaling a pause in the industrial metal's surge, on mounting concerns that the rally may have been overdone. Copper futures for October delivery slipped about 1% to $6,030 a metric ton on the London Metal Exchange. The drop comes as investors struggle to reconcile signs of a global economic recovery with the surge in coronavirus infections in the U.S., which could deal a setback to manufacturers.

  • Oil Prices Rise on Stronger-Than-Expected Jobs Report

    Oil prices rose Thursday after employment data showed the U.S. economy gained more jobs than expected last month. U.S. crude futures for August delivery added 2.1% to $40.65 a barrel on the New York Mercantile Exchange, closing at their highest level since March 6.. Prices edged higher after Labor Department data showed the U.S. added 4.8 million jobs in June, bringing the unemployment rate down to 11.1%.

  • Oil Prices Rise on Stronger-Than-Expected Jobs Report

    Oil prices rose Thursday after employment data showed the U.S. economy gained more jobs than expected last month. U.S. crude futures for August delivery added 2.1% to $40.65 a barrel on the New York Mercantile Exchange, putting them on target for their highest closing price since March 6.. Prices edged higher after Labor Department data showed the U.S. added 4.8 million jobs in June, bringing the unemployment rate down to 11.1%.

  • Oil Prices Rise on Stronger-Than-Expected Jobs Data

    Oil prices rose Thursday after employment data showed the U.S. economy gained more jobs than expected last month. U.S. crude futures for August delivery added 1.7% to $40.45 a barrel on the New York Mercantile Exchange, putting them on target for their highest closing price since March 6.. Prices edged higher after Labor Department data showed the U.S. added 4.8 million jobs in June, bringing the unemployment rate down to 11.1%.

  • UN FAO: Food Prices Rise for First Time This Year

    Global food prices rose in June for the first time this year, the United Nations' Food and Agriculture Organization said Thursday, suggesting that the sharp declines experienced by food commodities as the coronavirus has hit demand could be easing. The UN FAO's monthly food price index, which tracks a basket of the most common foodstuffs such as grains, vegetable oils and meat, rose 2.4% in June to 93.2. The rise halts four consecutive months of declining food prices, as measured by...

  • Oil Prices Edge Higher After Inventory Data

    Oil prices inched higher Wednesday, continuing a recent rebound after data showed U.S. crude stockpiles fell more than anticipated last week. U.S. crude futures for August delivery were recently up 0.9% at $39.62 a barrel. Prices are near their highest level since early March, buoyed by recovering fuel demand and supply cuts by the Organization of the Petroleum Exporting Countries and allies including Russia.

  • U.S. Crude-Oil Inventories Fall From Record-High

    U.S. inventories of crude oil inventories fell from an all-time-high, but gasoline supplies unexpectedly increased, according to data released Wednesday by the Energy Information Administration. Benchmark U.S. oil prices, which were higher before the data were released, reduced those gains afterward. The Nymex front-month crude contract for August delivery was recently up just 0.1%% at $39.29/ bbl.

  • Rally in Raw Materials Signals Economic Rebound

    Prices for raw materials including oil and copper are surging as the world economy reopens for business, a signal to many investors that global growth is returning more quickly than anticipated. The recent gains come after coronavirus lockdowns dented commodity prices earlier in the year and are a boon for battered producers like copper miner Freeport-McMoRan Inc. and energy giant Exxon Mobil Corp.-- many of which have cut supply in response to industry turmoil.

  • Oil Prices Rise Above $40 on Demand Hopes

    Oil prices climbed Friday, sending U.S. crude above $40 a barrel with traders hopeful that global fuel demand will rebound more quickly than anticipated. U.S. crude futures for delivery in July rose 3.4% to $40.17 a barrel, heading for their highest close since early March. Prices started the year above $60, briefly collapsed below $0 for the first time ever in late April due to a global glut of oil and are now rebounding with drivers returning to the road and producers curtailing...

  • Oil Prices Rise Amid Supply Cuts

    Oil prices climbed Thursday, nearing their highest levels since early March with traders expecting supply cuts to help balance the crude market. U.S. crude futures for delivery in July ended the day up 2.3% at $38.84 a barrel on the New York Mercantile Exchange. Prices have hovered just below $40 recently but have staged a weekslong recovery since briefly dropping below $0 for the first time ever in late April due to a lack of available storage.

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