Oil rises alongside equities, but downbeat OPEC outlook caps gains

Oil rises alongside equities, but downbeat OPEC outlook caps gains
NEW YORK (Reuters) – Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns. FILE PHOTO: A wastewater injection well owned by Parsley Energy operates in the Permian Basin near Midland, Texas U.S. August 23, 2018. REUTERS/Nick Oxford But oil’s gains were capped after the Organization... Read More

PES up against the clock to sell Philadelphia refinery in cash crunch

PES up against the clock to sell Philadelphia refinery in cash crunch
NEW YORK (Reuters) – Finding a buyer for Philadelphia Energy Solutions’ oil refinery has grown urgent as the bankrupt company’s funds dwindle and no signs emerge that it is winning a fight for insurance payouts after a June blaze at the plant, according to court documents and bankruptcy experts. FILE PHOTO: The Philadelphia Energy Solutions oil refinery is shown after... Read More

Oil rises alongside equities, but weak OPEC outlook caps gains

Oil rises alongside equities, but weak OPEC outlook caps gains
NEW YORK (Reuters) – Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns. FILE PHOTO: A wastewater injection well owned by Parsley Energy operates in the Permian Basin near Midland, Texas U.S. August 23, 2018. REUTERS/Nick Oxford But oil’s gains were capped after the Organization... Read More

Oil edges up as recession fears ease but OPEC outlook weighs

Oil edges up as recession fears ease but OPEC outlook weighs
MOSCOW (Reuters) – Crude oil prices rose on Friday, recovering from two days of declines, after data showing a rise in U.S. retail sales helped to ease recession concerns, although a bearish outlook from OPEC capped gains. FILE PHOTO: A wastewater injection well owned by Parsley Energy operates in the Permian Basin near Midland, Texas U.S. August 23, 2018. REUTERS/Nick... Read More

STAR Market tech board offers hope to Chinese venture capitalists

STAR Market tech board offers hope to Chinese venture capitalists
SHANGHAI/HONG KONG (Reuters) – When Chinese venture capital firm New Vision Capital invested in two startups focusing on cloud computing and micro-optics, the plan was to eventually take them public on the Nasdaq exchange. FILE PHOTO – A sign for STAR Market, China’s new Nasdaq-style tech board, is seen after the listing ceremony of the first batch of companies at... Read More

Wall Street struggles for direction as bond yields slide

Wall Street struggles for direction as bond yields slide
NEW YORK (Reuters) – Wall Street seesawed from red to black and back on Thursday as recessionary fears and simmering U.S.-China trade tensions offset upbeat retail sales data. All three major U.S. stock indexes struggled for direction as investors grappled with mixed messages of a strong consumer and dropping U.S. Treasury yields. Walmart Inc beat second-quarter Street estimates and raised... Read More

Oil deepens slide on recession fears, China’s trade threats

Oil deepens slide on recession fears, China’s trade threats
NEW YORK (Reuters) – Oil prices fell more than 1% on Thursday, extending the previous session’s 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories. FILE PHOTO: Drilling rigs operate at sunset in Midland, Texas, U.S., February 13, 2019. REUTERS/Nick Oxford/File Photo In a sign of investor concern that the world’s biggest economy could... Read More