Prices

Oil

Business forecasters boost outlook, predict low oil prices

A business economics group has boosted its outlook for U.S. economic improvement this year and next, particularly for job growth.

The March report from the National Association for Business Economics forecasts more hiring, a lower unemployment rate, a lower inflation rate and more growth in consumer spending in 2015, compared to the group's forecast in December 2014.

Oil

Oil down on Iran talks

Source: 
Reuters

Discussions between Iran and six world powers including the U.S. over its nuclear program were pressuring oil prices early Monday. U.S. benchmark crude was 80 cents lower to $48.07 a barrel in electronic trading on the Nymex, while in London Brent fell 40 cents to $56.01, Reuters reports.

Oil

Oil drop offers opportunities, says Blackstone chief

Source: 
Bloomberg

The slide in oil prices since last June has created “remarkable” opportunities for investments in debt and equities, the head of private equity giant Blackstone Group told Bloomberg.

Oil

North Dakota loses lowest jobless rate as oil prices slide

BISMARCK, N.D. (AP) — North Dakota no longer has the lowest unemployment rate in the nation due in part to sliding oil drilling activity.

The U.S. Bureau of Labor Statistics says North Dakota's jobless rate in February was 2.9 percent, up from 2.8 percent in January.

Oil

Oil ends week higher, stocks lower

NEW YORK (AP) — Oil slid on Friday, although it ended the week higher.

A tough week on the stock market finished quietly, with major indexes notching modest gains, although not nearly enough to make up for the four previous days of losses. It wound up being the second-worst week for the market so far this year.

Oil

Oil retreats as Yemen worries recede

Source: 
Reuters

Oil has started to give back some of its recent gains as fears that the Yemen conflict would affect the supply in the region have receded. U.S. benchmark crude was $1.05 lower to $50.38 a barrel in electronic trading on the Nymex, while in London Brent also fell $1.05 to $58.14, Reuters reports.

Oil

Oil firms making money on hedging bets

Source: 
The Wall Street Journal

Closing out hedging bets early has helped some oil companies reap big financial gains, The Wall Street Journal reports.

Oil

Oil prices jump almost 5 percent as tensions mount in Yemen

The price of oil rose sharply on Thursday as mounting tensions in Yemen got traders worried that the flow of crude from the Persian Gulf region could be disrupted.

Saudi Arabia and other Gulf states launched strikes on key military installations in Yemen. They aim to oust Shiite rebels who forced the country's embattled president to flee.

Oil

Shell cuts staff numbers in North Sea operations

LONDON (AP) — Shell U.K. says it will cut at least 250 staff and contractors in the North Sea, amid sharp drops in the price of oil.

The oil company said Thursday the cuts are part of a range of initiatives it has been pursuing to manage costs and improve competitive performance.

Oil

Oil soars over $50 on Yemen fighting

Source: 
Reuters

The start of a military operation in Yemen by Saudi Arabia and its allies has fueled another climb in oil prices early Thursday. U.S. benchmark crude jumped $2.18 to $51.39 a barrel in electronic trading on the Nymex, while in London Brent zoomed $2.39 higher to $58.87, Reuters reports.

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