Gas

Buffett and Berkshire added big to their bets on Ally, Occidental, Paramount and Activision. But these other 6 stocks also got a vote of confidence.

Warren Buffett’s Berkshire Hathaway Inc. added to nine stock holdings during the second quarter, reduced holdings of four and sold two outright. That’s according to Berkshire Hathaway’s BRK most recent 13F filing with the Securities and Exchange Commission. The company held 45 stocks with a combined market value of $330.1 billion as of June 30. …

Buffett and Berkshire added big to their bets on Ally, Occidental, Paramount and Activision. But these other 6 stocks also got a vote of confidence. Read More »

Why gas prices are dipping below $4 per for first time in months

The national average price of gasoline fell below $4 per gallon this week for the first time in five months, providing marginal relief for cash-strapped American motorists. The average price per gallon was $3.99 on Tuesday at locations tracked by fuel analysis platform GasBuddy. The firm said falling oil prices are most responsible for the …

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Saudis thumb nose at Biden’s request to boost oil output

President Biden’s trip to Saudi Arabia was deemed a failure by analysts after oil-producing states announced Wednesday that they would boost output by just 100,000 barrels a day starting next month — a drop in the bucket compared to America’s vast energy needs. The Saudi-led Organization of Petroleum Exporting Countries and its allies announced the …

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Occidental Petroleum Bucks Oil Profit Trend With Lower Q2 Profit

Occidental Petroleum reported a net profit of $3.6 billion for the second quarter of the year, down from $4.7 billion for the first quarter, boasting the highest quarterly free cash flow. The adjusted income attributable to shareholders, however, was higher in the second quarter than the first, at $3.2 billion versus $2.1 billion for the …

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Fearing a windfall tax, this oil company is cutting gasoline prices at its pumps.

Windfall taxes on oil companies are the talk around the world as consumers grapple with high energy costs. France’s TotalEnergies TTE, +0.02% is trying to head one off by committing to cut prices. The company said it will cut fuel prices by 20 eurocents a liter compared to global market prices from September to November, …

Fearing a windfall tax, this oil company is cutting gasoline prices at its pumps. Read More »

Russian And Iran Ink $40 Billion Oil And Gas Agreement

Ahead of Russian President Vladimir Putin’s visit to Iran on Tuesday, his second foreign trip since he invaded Ukraine in February, Russian Gazprom and the National Iranian Oil Company have inked a $40-billion agreement for the development of oil and gas fields. Moscow and Tehran signed the $40-billion Memorandum of Understanding (MOU) just ahead of …

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Oil Prices Unmoved By Small Crude, Gasoline Build

The American Petroleum Institute (API) reported a build this week for crude oil of 1.860 million barrels, while analysts predicted a build of 333,000 barrels. The build comes as the Department of Energy released 5 million barrels from the Strategic Petroleum Reserves in Week Ending July 15, to 480.1 million barrels. US crude inventories have …

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Oil spikes as Biden fails to win Saudi pledge to boost output

The price of oil surged to more than $100 a barrel on Monday after President Joe Biden left Saudi Arabia over the weekend without winning a commitment from the kingdom to boost output. Brent crude, the international benchmark, rose by nearly 2.5% to around $103.50 in the early morning hours of Monday while West Texas …

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