Stocks close at a record high as energy sector recovers

NEW YORK (AP) — A slight gain was enough to push the stock market to a record high Friday.

Stocks climbed as a rebound in oil prices pushed energy stocks higher. A report showing faster-than-forecast growth in Europe at the end of last year also boosted investor sentiment.


Oil, global stocks higher on Greek progress, German data

TOKYO (AP) — Oil climbed and global stock markets were higher early Friday as Athens and its European creditors inched toward a deal on renegotiating Greece's bailout and fresh data showed an improvement in Germany's economy. Investors also reacted with optimism regarding an agreement on a cease-fire in Ukraine.

ENERGY: Benchmark U.S. crude was up 56 cents to $51.77 a barrel in electronic trading on the New York Mercantile Exchange. The contract soared $2.37 on Thursday after the CEO of Royal Dutch Shell said he expected crude demand to grow faster than supply this year. Brent crude was up 45 cents at $59.77 a barrel in London.


US market approaches record as energy, tech stocks gain

NEW YORK (AP) — U.S. stocks climbed back close to record levels on Thursday as technology, materials and energy companies all notched big gains. Energy stocks rose as the price of oil rebounded following two days of heavy losses.

Crude rose sharply as the CEO of Royal Dutch Shell said he expects crude demand will grow faster than supply this year. Benchmark U.S. crude jumped $2.37 to close at $51.21 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $2.39 to close at $57.05 in London.


Hudson Institute forum on falling oil prices

Washington, February 13, 2015, 10:30 am

Hudson Institute forum, "Falling Oil Prices: Assessing the Economic, Political, and Geopolitical Impact." 


Private equity firms hit by energy turmoil, but see opportunity

The Economist

Kohlberg, Kravitz, Roberts and the Carlyle Group have joined Apollo Global Management in reporting drastic drops in profit as a result of the slide in oil prices, but private equity firms generally are seeing ripe pickings in the energy sector at the moment because of its drastically reduced asset prices, The Economist reports.


Oil jumps as dollar slides


A two-day fall for oil looks to have come to an end, as prices reversed course early Thursday on news of a weaker dollar and more spending cuts by oil companies. U.S. benchmark crude was $1.34 higher at $50.18 a barrel in electronic trading on the Nymex, while in London Brent gained $1.34 to $56, Reuters reports.


Total writes down value of Canadian, US oil fields amid loss

PARIS (AP) — French energy producer Total wrote down the value of oil and gas fields in Canada and the United States and said it would slash investment after the collapse in market prices led to a net loss of $5.66 billion for the fourth quarter.

Total SA said Thursday its earnings were weighed down by $6.5 billion in charges, mainly against the value of oil sands in Canada and unconventional gas fields in the United States.


Oil, energy stocks drop but overall market little changed

NEW YORK (AP) — U.S. stocks closed effectively flat in quiet trading Wednesday as investors waited to see what the outcome would be of an emergency meeting between Greece and the rest of the eurozone to discuss the country's finances.

Energy stocks were among the biggest decliners as the price of oil fell.

Jindal to leave Louisiana's next governor with budget mess

BATON ROUGE, La. (AP) — Year after year, Louisiana didn't have enough money to cover its expenses, yet Gov. Bobby Jindal refused to roll back income tax cuts or ever-increasing corporate tax breaks. Instead, he raided reserve funds and sold off state property.

Jindal suggested job growth from his economic development wins would replenish those assets once the recession ended. It hasn't — and money from the lucrative oil industry has taken a nose dive with crude prices. Now, the Republican is running out of short-term patches and is struggling to plug a $1.6 billion budget hole just as he tries to build support for a possible 2016 presidential run.


Greek uncertainty obscuring underlying European recovery

BRUSSELS (AP) — With all the noise and uncertainty surrounding Greece over the past couple of weeks, it's been easy to overlook the growing signs of economic recovery in Europe.

A raft of indicators have pointed to a pick-up in activity that puts the 19-country eurozone economy in a position to outperform expectations this year — provided it doesn't stumble into a messy Greek exit from the euro or relations deteriorate between the West and Russia over the conflict in Ukraine.


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