63.8 F
Fort Worth
Monday, September 28, 2020
- Advertisements -
Energy Oil back above $98 after China jitters

Oil back above $98 after China jitters

Other News

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for September delivery rose 31 cents to settle at $41.60 a barrel Monday. Brent crude...

Trump to discuss energy, tour oil rig, raise money in Texas

By DARLENE SUPERVILLE Associated PressWASHINGTON (AP) — President Donald Trump will shift his focus to American energy dominance during a stop in...

Basic Energy Services makes organizational changes

Fort Worth-based Basic Energy Services, Inc. (OTCQX: BASX) in late May announced the implementation of changes to the organizational structure of the...

Texas oil producers were cutting output before Railroad Commission chose not to, Commissioner Christi Craddick says

By Cassandra PollockMay 12, 2020 Texas Railroad Commissioner Christi Craddick on Tuesday doubled down on the agency’s recent decision...
Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

The Associated Press

The price of oil rose above $98 per barrel on Thursday after plunging the day before on concern China’s economic slowdown is deepening.

Benchmark U.S. crude for April delivery was up 11 cents to $98.19 per barrel at 0830 GMT in electronic trading on the New York Mercantile Exchange. A day earlier, the contract fell $2.04 to close at $97.99, its first close below $100 in a month.

Brent crude, used to set prices for international varieties of crude, was down 2 cents to $107.33 on the ICE exchange in London.

A decline in Chinese exports in February has fueled worries the world’s second-largest economy is weakening further. Growth in factory output, investment and retail sales, reported Thursday, was unusually weak.

Oil prices had been falling after spiking last week on fears Russia’s military incursion into the Crimean Peninsula might lead to U.S. and European sanctions on one of the world’s largest energy suppliers.

Providing some support to prices, the Organization of Petroleum Exporting Countries, which accounts for around a third of the world’s oil production, raised slightly its forecast for global crude demand in 2014.

In its monthly oil market report released Wednesday, OPEC estimated the world will consume 91.1 million barrels a day this year, 1.14 million barrels more than in 2013 and 50,000 barrels above the group’s previous forecast released in February.

In other energy futures trading on Nymex:

— Wholesale gasoline shed 0.3 cent to $2.952 a gallon.

— Heating oil declined 0.5 cent to $2.921 a gallon.

— Natural gas lost 2.7 cents to $4.463 per 1,000 cubic feet.

 

- Advertisements -
- Advertisements -

Latest News

Trump’s tax revelation could tarnish image that fueled rise

By JILL COLVIN Associated PressWASHINGTON (AP) — The bombshell revelations that President Donald Trump paid just $750 in federal income taxes the...

Race for Texas House majority has kept the contest for speaker quiet

By Cassandra Pollock, The Texas Tribune Sept. 25, 2020 "Race for Texas House majority...

Deadly microbe water warning lifted for final Texas city

LAKE JACKSON, Texas (AP) — Environmental officials in Texas have lifted a warning for a final Houston-area community to stop using tap...

After Ginsburg’s death, high stakes for Texas’ legal challenge to the Affordable Care Act

By Emma Platoff and Edgar Walters, The Texas Tribune Sept. 25, 2020 "After Ginsburg’s...

How it happened: From law professor to high court in 4 years

By ZEKE MILLER, COLLEEN LONG and MICHAEL BALSAMO Associated PressWASHINGTON (AP) — Four years ago, Amy Coney Barrett was a little-known law...