Oil futures surged to a new high for 2023 after inventory levels at the largest U.S. storage hub plummeted toward operational minimums. West Texas Intermediate surged by over 3% to reach a new height of $93.68 per barrel on Wednesday before advancing to $94.43 on Thursday.
Brent international futures were...
EV maker Tesla announced that its Chief Financial Officer Zachary Kirkhorn will be stepping down from his position. Kirkhorn spent 13 years with the company and has served as Tesla’s CFO since 2019.
During Kirkhorn’s time in the position, he helped Tesla go from a $50 billion company to one...
Global hospitality company Hilton Worldwide Holdings Inc raised its full-year adjusted profit forecast on Wednesday. Previously in the range of $5.68 and $5.88 per share, the updated forecast falls in the range of $5.93 and $6.06.
Hilton is expecting a rising travel demand to bolster its earnings. This comes after several...
Oil prices stabilized on Tuesday as China indicated that it would take steps toward providing economic support to its struggling property sector, there helping to restore economic stability to the country.
West Texas Intermediate futures, the U.S. benchmark, continued to hover around $73 per barrel as the Chinese government pressured...
Jobs in the U.S. energy industry grew by 3.8% last year, the Department of Energy confirmed on Wednesday. Energy jobs growth thereby outpaced overall employment growth.
114,000 energy industry jobs were added over the past year, largely spearheaded by the growing clean energy sector which includes solar power, wind, nuclear,...
Oil prices fluctuated on Tuesday as investors continued to monitor the ongoing U.S. debt ceiling negotiations. U.S. House Speaker Kevin McCarthy revealed that while he and President Joe Biden engaged in a production discussion, an agreement between Democrats and Republicans is yet to be reached.
West Texas Intermediate traded near...
Oil edged higher on Wednesday as traders await the latest developments from the U.S. government's debt ceiling discussions. In addition, investors continue to monitor demand coming out of China as well as U.S. stockpile levels.
West Texas Intermediate—the U.S. benchmark—erased earlier losses while rising above the previous session's close. This...
Oil fell below $70 per barrel on Wednesday, extending its losses concerns over an impending recession and sustained banking instability continue to hamper market sentiment.
Crude futures fell in New York to their lowest levels since March, while banking stocks including PacWest Bancorp and Western Alliance Bancorp declined during premarket...
Oil extended its rally on Wednesday as a further decline in U.S. inventories added to the effects of the recent OPEC+ decision to cut output by 1.16 million barrels per day.
West Texas Intermediate was up to more than $81 a barrel after closing at its highest level in...
Oil pushed higher on Wednesday as data from China and India boosted investor outlook. The rise in Chinese factory activity has boosted oil demand from the world's largest crude importer, thereby offsetting concerns about high U.S. oil reserves.
The news was positive in India as well, where domestic refined...