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The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.
Oil fell after a government report showed swelling US crude inventories and a Federal Reserve official signaled interest rates may remain elevated.
U.S. supermajor Chevron Corp. is acquiring Hess Corp. in a $53 billion megadeal—less than two weeks after Exxon Mobil unveiled a nearly $60 billion Permian Basin acquisition. And experts think the historic run of oil patch consolidation is far from over.
Stocks started the day in the red as the 10-year Treasury yield topped 5%, but finished well off their session lows.
The war between the Islamist group Hamas and Israel represents one of the biggest geopolitical risks to oil markets since Russia's invasion of Ukraine last year. -October 16, 2023 at 10:54 am EDT - MarketScreener