NEW YORK (Reuters) – The last time refining maverick Tom O’Malley bought the oil refinery in Delaware City, Delaware, he doubled his money in two years.
Now he may be vying to do it again.
An investment group led by O’Malley is in talks with Valero Energy Corp <VLO.N>, the top independent U.S. refiner, to buy the assets of the shuttered 210,000-barrel-per-day Delaware City refinery.
NEW YORK (Reuters) – U.S. federal climate legislation may still pass this year even though a Republican who opposes the bill won a seat in the Senate this week, a carbon markets executive said on Thursday.
“Our view is that it’s not dead,” Abyd Karmali, managing director and global head of carbon emissions at Bank of America-Merrill Lynch, told Reuters in an interview.
NEW YORK (Reuters) – Oil rose above $79 a barrel on Tuesday after five sessions of losses as gains in the U.S. stock market boosted prices, outweighing earlier pressure from mild weather and the stronger greenback.
U.S. crude settled at $79.02 a barrel, up $1.02 from Friday’s settlement. The New York Mercantile Exchange was closed on Monday for the Martin Luther King Day holiday.
NEW YORK (Reuters) – Oil prices fell for the fifth straight day on Friday, settling at $78 per barrel as expectations for reduced heating demand in the United States, a stronger dollar and high oil inventories pressured prices.
Mild weather this week has reduced forecasts for fuel consumption, particularly in the United States, the world’s top oil consumer, after a cold snap in many parts of the Northern Hemisphere helped push prices above $80 earlier in January.
NEW YORK (Reuters) – Oil rose nearly 2 percent to top $78 a barrel for the first time in three weeks on Thursday, buoyed by economic optimism that sent Wall Street to a 2009 high.
Oil was also supported by data showing lower U.S. crude oil inventories, traders said.
NEW YORK (Reuters) – Oil rose more than 3 percent to above $76 a barrel on Wednesday in the biggest one-day percentage gain in about five weeks after U.S. inventory data showed crude oil inventories in the world’s top energy consumer fell more than expected.
Commercial crude oil stockpiles fell 4.9 million barrels to 327.5 million barrels last week, according to weekly inventory data from the U.S. Energy Information Administration, far exceeding the 900,000-barrel drop forecast by analysts.
NEW YORK (Reuters) – Oil prices dipped below $70 a barrel for the first time in two months on Thursday, extending losses for a seventh consecutive session, as excess fuel inventories created concerns about weak demand.
U.S. crude for January delivery settled at $70.54 a barrel, down 13 cents, after hitting a low of $69.81. In London, Brent crude settled at $71.86, down 53 cents.
NEW YORK (Reuters) – Oil dropped more than 2 percent to settle below $71 a barrel on Wednesday after government data showed larger-than-expected builds in U.S. refined products due to weak demand in the world’s top consumer.
U.S. crude for January delivery dropped $1.95 to $70.67 a barrel in the sixth consecutive day of losses.
NEW YORK (Reuters) – Oil fell toward $74 a barrel on Monday as low demand for crude oil in the wake of the economic downturn continued to pressure prices, outweighing last week’s strong U.S. job report.
NYMEX crude for January delivery fell $1.34 to $74.13 a barrel by 2:20 p.m. Brent crude dipped 89 cents to $76.63 a barrel.
NEW YORK (Reuters) – U.S. crude futures fell over 2 percent to settle below $77 a barrel on Wednesday, extending losses after U.S. government inventory data showed larger-than-expected builds in crude and gasoline stocks.
Crude oil inventories rose 2.1 million barrels last week, a weekly report from the U.S. Energy Information Administration showed, raising doubts about economic recovery in the world’s top oil consuming nation.