We’re adding to our geopolitical hedge and a struggling health-care stock
We’re adding to our lone oil stock and an out-of-favor medical-technology company.
ConocoPhillips to buy Marathon Oil in $17.1 billion all-stock deal that bolsters shale assets
Saudi Aramco to reportedly sell $10 billion to $20 billion worth of shares in new offering
The reported new offering would come at an opportune time for the kingdom, which is spending heavily on megaprojects while seeing lower oil revenue.
Hess shareholders to vote on Chevron deal as dispute with Exxon over Guyana creates uncertainty
The Chevron-Hess deal was originally slated to close in the first half of 2024, but that timeline has been delayed due to a dispute with Exxon Mobil.
U.S. crude oil gains more than 1% as market looks to OPEC+ meeting on production levels
Oil market analysts are broadly expecting OPEC+ to maintain its current production levels.
Biden’s gasoline sale likely won’t have a major impact on summer pump prices
The Energy Department’s move to sell 1 million barrels of gasoline from the Northeast Gasoline Supply Reserve may not provide much relief at the pump.
Oil prices hit three-month lows, head for weekly loss as summer driving season kicks off
WTI and Brent are on pace for a weekly loss of about 4% and 3%, respectively.
Oil prices bounce back after three-day decline but still on pace for weekly loss
U.S. crude oil is down 2.4% for the week while Brent, the global benchmark, is down 1.8%.
Judge rules Exxon can sue activist shareholder over climate proposal
A federal judge in Texas said Exxon Mobil’s lawsuit to bar a climate change proposal from activist investor Arjuna Capital can proceed.
Former BP exec’s ex-husband gets prison for insider trading after eavesdropping on her calls
A Texas man illicitly bought stock of a company eyed by oil giant BP after hearing his mergers and acquisitions executive wife discuss the deal on calls.