55.9 F
Fort Worth
Saturday, November 28, 2020
Energy Oil subdued near $93 ahead of new Iran talks

Oil subdued near $93 ahead of new Iran talks

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 oil for...

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 Texas later...

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 company, reducing...

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 to not cut oil production and...
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.

KUALA LUMPUR, Malaysia (AP) — Oil prices were subdued Monday ahead of the resumption of negotiations in Geneva to curb Iran’s nuclear program.

Benchmark U.S. crude for December delivery was down 45 cents to $93.39 a barrel at midafternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract rose 8 cents to close at $93.84 on Friday.

Oil has traded between $93 and $96 a barrel over the past two weeks, and is down from nearly $110 a barrel in early October.

Iran will resume talks this week with six world powers — the U.S., Britain, France, Russia, China and Germany — aimed at resolving a decade-long standoff over Iran’s nuclear program.

Last week’s negotiations failed to reach an agreement but the U.S. administration is hopeful that an initial deal with Iran can be reached in this next round of talks. The countries worry that Tehran is trying to assemble an atomic weapons arsenal. Iran insists it has a right to pursue a nuclear program solely for peaceful energy production and medical research

The powers are offering a gradual rollback of sanctions that have crippled Iran’s economy, raising concerns of an influx of Iranian oil into world markets at a time of already abundant supplies.

Two U.S. administrative officials however, said last week that Iran would get only limited and temporary relief from economic sanctions.

Brent crude, the benchmark for an international variety of crude, shed 40 cents to $108.10 a barrel on the ICE exchange in London.

In other energy futures trading on Nymex:

— Wholesale gasoline fell 0.3 cent to $2.636 a gallon.

— Heating oil was down 0.2 cent to $2.939 a gallon.

— Natural gas rose 3.4 cents to $3.694 per 1,000 cubic feet.

 


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Venezuela judge convicts 6 American oil execs, orders prison

By SCOTT SMITH ASSOCIATED PRESSCARACAS, Venezuela (AP) — Six American oil executives held for three years in Venezuela were found guilty of corruption charges...

JRB Fort Worth chosen for main operating base for C-130J aircraft

Naval Air Station Joint Reserve Base Fort Worth has been selected as a main operating base for eight C-130J aircraft at the 136th Airlift...

Tarrant County DA’s office changing how it handles misdemeanor marijuna cases

The Tarrant County Criminal District Attorney’s Office is changing how it handles misdemeanor marijuana cases. The Tarrant County  Criminal District Attorney’s Office on Monday, Nov....

Arlington selects new police chief from Baltimore department

Col. Al Jones, a 25-year veteran of the Baltimore County Police Department, has been appointed the new police chief of the the City of...

Fort Worth firm acquired by Abilene-based Petrosmith

Abilene-based Petrosmith, a leading provider of production equipment and oilfield tubular goods, has acquired the assets of Wellflex Energy Solutions LLC, an engineering, procurement...