Democrats to submit investigation into oil giant to Justice Department

Democrats have asked the US Department of Justice to investigate large oil companies and their trading groups after congressional investigations concluded that the industry has deceived the public over climate change issues for decades. The three-year investigation was initiated by Democrats on the House Oversight and Accountability Committee, accusing ExxonMobil, Chevron, Shell, British Petroleum, the American Petroleum Association, and the American Chamber of Commerce of participating in a “deceptive and vague PR campaign” while internally admitting that fossil fuels have caused climate change since the 1960s. Senator Sheldon Whi (Sheldon Whi)

環球市場播報May 22 16:24 ET

The global oil market has weakened due to weak demand

Traders and analysts said that the global crude oil spot market is weakening due to weak demand from refineries and sufficient supply, which may mean that indicator crude oil futures are weakening further. This weakness shows that high interest rates and inflation have dampened consumer and industrial demand, especially in regions represented by Europe, while supply from non-OPEC oil producers such as the US is increasing. This could support the OPEC+ argument that production limits will be maintained at the June 1 meeting. Although refiners' crude oil import capacity increased with the end of spring maintenance, demand remained weak. Saxo Bank (Saxo Bank) analyst Ole

環球市場播報May 20 12:13 ET

US WTI crude oil closed 0.76% higher on Thursday, oil prices were supported by falling crude oil inventories

In the early morning of the 17th Beijing time, crude oil futures prices closed higher on Thursday. U.S. crude oil inventories fell for the second week in a row, and US inflation eased somewhat, which supported oil prices. According to data released by the US Energy Information Administration on Wednesday morning, U.S. crude oil inventories fell by 2.5 million barrels last week because refiners processed more crude oil, which indicates that demand may be picking up. West Texas Intermediate (WTI) futures for June delivery on the New York Mercantile Exchange closed up 60 cents, or 0.76%, to close at $79.23 a barrel. The price of Brent crude oil futures for July delivery rose 52 cents, an increase of 0.

環球市場播報May 16 15:07 ET

US WTI crude oil closed 0.79% higher on Wednesday

In the early morning of the 16th Beijing time, U.S. crude oil futures prices closed higher on Wednesday. Crude oil market traders are evaluating factors such as US inflation, prospects for the Federal Reserve to cut interest rates, and domestic crude oil inventories. West Texas Intermediate (WTI) futures for June delivery on the New York Mercantile Exchange closed up $0.61, or 0.79%, to close at $78.63 a barrel. The April US CPI report shows that inflation is cooling down, making the market expect the Federal Reserve to speed up the pace of interest rate cuts in 2024. Retail sales in the US slowed markedly in April, indicating that high interest rates have seriously weakened consumers' spending power. The US Energy Information Administration announced on Wednesday

環球市場播報May 15 15:21 ET

U.S. Energy Corp. (NASDAQ:USEG) Q1 2024 Earnings Call Transcript

Yahoo FinanceMay 13 10:39 ET

US Energy Is Maintained at Buy by EF Hutton

US Energy Is Maintained at Buy by EF Hutton

Dow JonesMay 13 08:00 ET