73.1 F
Fort Worth
Sunday, September 20, 2020
- Advertisements -
Energy Oil slips as US growth lags expectations

Oil slips as US growth lags expectations

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.

NEW YORK (AP) — The price of oil slipped after two days of strong gains Friday as U.S. economic growth was slightly slower than expected.

By midday in New York, benchmark oil for June delivery was down $1.18, or 1.3 percent, to $92.46 a barrel. Oil gained $4.46, or 5 percent, over the two prior days.

U.S. economic growth accelerated to an annual rate of 2.5 percent from January through March from an anemic pace in the previous quarter. But the markets were expecting growth of 3 percent or better.

The U.S. figure follows last week’s report of slower-than-expected growth in China, raising questions about demand in the world’s biggest oil-consuming countries.

Brent crude, which is used to price oil from the North Sea used by many U.S. refiners, was down 80 cents to $102.61 a barrel on the ICE Futures exchange in London.

In other energy futures trading on the Nymex:

— Gasoline fell 1 cent to $2.80 per gallon.

— Heating oil declined 2 cents to $2.86 a gallon.

— Natural gas lost 5 cents to $4.11 per 1,000 cubic feet.

 

- Advertisements -
- Advertisements -

Latest News

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for October delivery rose 81 cents to $40.97 a barrel Thursday. Brent crude oil for...

U.S. Energy Development Corp. announces $8.5 million deal in the Permian Basin

U.S. Energy Development Corporation, an exploration and production firm that provides direct investments in energy, has announced an interest in a horizontal...

Closing prices for crude oil, gold and other commodities

The Associated PressBenchmark U.S. crude oil for October delivery fell 7 cents to $37.26 a barrel Monday. Brent crude oil for November...

OPEC cuts oil demand forecasts, BP sees ‘peak oil’ in 2020s

LONDON (AP) — Developing countries' difficulty in containing the spread of the coronavirus pandemic will keep a lid...

XTO Energy pulls plan for New Mexico natural gas facility

CARLSBAD, N.M. (AP) — A major oil and gas producer in the Permian Basin has withdrawn its application for a permit to...