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Energy Transfer wins ruling opening Williams deal escape route

Billionaire Kelcy Warren just won a hand in the biggest M&A poker game he’s played in the U.S. oil patch. Eighteen months after Warren’s Energy Transfer Equity began talks to acquire rival pipeline giant Williams Cos., a Delaware judge ruled Friday that the company can back out of the nearly $33 ...

Oil plunges on British vote to leave EU

Oil tumbled with most commodities amid a global flight from risky assets after the U.K. voted to leave the European Union. Whether the rout lasts depends on how world governments deal with the turmoil. Futures dropped 4.9 percent in New York and London, the biggest decline in four months. Global equ ...

Oil down in advance of ‘Brexit’ vote

Oil fell from the highest closing level in more than a week as markets awaited U.S. stockpile data, while the U.K. referendum on membership in the European Union remained too close to call. Futures slid as much as 2.2 percent in New York. U.S. inventories probably fell by 1.5 million barrels last we ...

Can Shell overtake Exxon Mobil as top major?

Royal Dutch Shell Chief Executive Officer Ben Van Beurden spelled out his main goal last week — surpass Exxon Mobil  to become the best-performing oil major. “I am determined to get us to that No. 1 place,” he said after outlining the company’s long-term strategy in London. “I want to create a ...

Oil’s losing streak continues

Oil fell for a sixth day, heading for the longest run of declines since February on speculation that easing global supply disruptions will offset a decline in U.S. crude stockpiles and production. Futures dropped as much as 2 percent in New York, sliding in tandem with industrial metals and global e ...

Iran’s recovery could sputter without cash, wider trade

Iran easily beat expectations with its speed in boosting oil exports after the lifting of sanctions. But without an injection of cash and the easing of remaining trade barriers, the recovery may have run its course. When restrictions on Iran’s oil exports were relieved in January after a nuclear pac ...

Is oil’s bull market already reaching its end?

The oil market just hit a yellow light. Crude’s advance of more than 90 percent from a 12-year low earlier this year has U.S. shale producers starting to return to their drilling rigs, threatening to slow further gains. “The $50-to-$60 a barrel area is the sweet spot,” said Mark Watkins, the Park Ci ...

Crude falls as drillers mover to resume production

Crude slid to its lowest level in a week in New York after U.S. oil explorers deployed more drilling rigs, signaling that companies may be able to revive output at current prices. Futures fell as much as 1.8 percent after dropping 4.2 percent the previous two sessions. Rigs targeting crude in the U. ...

Is $100 oil on the horizon?

Oil investors are buying contracts that will only pay out if crude rises well above $100 a barrel over the next four years — a clear sign some believe today’s bust is sowing the seeds of the next boom. The options deals, which brokers said bear the hallmarks of trades made by hedge funds, appe ...

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