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Energy industry

Secretary of State Mike Pompeo speaks during a news conference on Monday, April 22, 2019, at the Department of State in Washington. (AP Photo/Sait Serkan Gurbuz)
April 23, 2019 - 4:54 pm

Oil prices climb in wake of Iranian oil sanctions decision

NEW YORK (AP) — Global oil prices are rising in the wake of President Donald Trump's decision to impose sanctions on nations that import Iranian oil and could eventually climb to levels that would impact American consumers. Analysts said Tuesday that by taking Iranian crude off the market, the...
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April 23, 2019 - 5:13 am

UN panel pays $240M to Kuwait oil firm for Iraq war losses

BERLIN (AP) — A U.N. panel overseeing compensation claims by countries and organizations affected by Iraq's 1990-1991 invasion of Kuwait says it has paid $240 million to the Gulf state's national oil company. The United Nations Compensation Commission said Tuesday that the latest tranche brings to...
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An investor finishes his meal at a stock brokerage in Beijing on Tuesday, April 23, 2019. Asian stocks were mixed on Tuesday while oil prices soared to their highest level since October after the U.S. said it would soon impose sanctions on all buyers of Iranian oil. (AP Photo/Ng Han Guan)
April 23, 2019 - 4:06 am

World stocks mixed, oil soars on Iran sanctions fears

SINGAPORE (AP) — World stocks were mixed on Tuesday ahead of the release of U.S. housing data and more earnings reports. Oil prices soared to their highest level since October on supply fears, after the Trump administration said it would soon impose sanctions on all buyers of Iranian oil. Markets...
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FILE- This Oct. 3, 2018, file photo shows a Tesla emblem at the Auto show in Paris. Tesla CEO Elon Musk appears poised to transform the company’s electric cars into driverless vehicles in a risky bid to realize a bold vision that he has been floating for years. The technology required to make that quantum leap is scheduled to be shown off to Tesla investors Monday, April 22, 2019, at the company’s Palo Alto, Calif., headquarters. (AP Photo/Christophe Ena, File)
April 22, 2019 - 6:56 pm

Tesla CEO plans to hand the car keys to robots next year

SAN FRANCISCO (AP) — Tesla CEO Elon Musk expects to start converting the company's electric cars into fully self-driving vehicles next year as part of an audacious plan to create a network of robotic taxis to compete against Uber and other ride-hailing services. The vision sketched out Monday...
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Secretary of State Mike Pompeo speaks during a news conference on Monday, April 22, 2019, at the Department of State in Washington. (AP Photo/Sait Serkan Gurbuz)
April 22, 2019 - 4:58 pm

Iran sanctions send oil prices, supply concerns higher

NEW YORK (AP) — The Trump administration's decision to impose sanctions on countries that buy Iranian oil is raising concerns about global crude supply and sending oil prices to their highest levels since October. Industry experts said Monday that the sanctions could potentially remove up to 1.2...
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FILE - In this April 12, 2019, file photo trader Steven Kaplan works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Monday, April 22. (AP Photo/Richard Drew, File)
April 22, 2019 - 12:43 pm

As oil surges, US stocks drift sideways in another muted day

Major U.S. stock indexes drifted sideways in afternoon trading Monday as a rally in energy companies was mostly held in check by broader declines elsewhere in the market. Energy sector stocks climbed along with the price of crude oil, which surged after the U.S. government moved to further block...
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April 22, 2019 - 11:39 am

Nigeria oil output to decrease 8 percent daily after fire

WARRI, Nigeria (AP) — An oil company in Nigeria is declaring a "force majeure" shutdown after a fire. The temporary closure is expected to cut Nigeria's oil production by about 8 percent per day. Aiteo Oil Exploration and Production Company said the shutdown took place Sunday. The Nembe Creek Trunk...
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Secretary of State Mike Pompeo speaks during a news conference on Monday, April 22, 2019, at the Department of State in Washington. The Trump administration on Monday told five nations — Japan, South Korea, Turkey, China and India — that they will no longer be exempt from U.S. sanctions if they continue to import oil from Iran. (AP Photo/Sait Serkan Gurbuz)
April 22, 2019 - 10:12 am

The Latest: Turkey criticizes US Iran oil sanctions decision

WASHINGTON (AP) — The Latest on U.S. sanctions on countries importing Iranian oil (all times local): 11:07 a.m. Turkish Foreign Minister Mevlut Cavusoglu has criticized the U.S. decision to end sanction waivers for countries importing Iranian oil, saying the move "will not serve regional peace and...
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FILE - In this April 8, 2019, file photo, Secretary of State Mike Pompeo speaks at a news conference to announce the Trump administration's plan to designate Iran's Revolutionary Guard a "foreign terrorist organization," at the U.S. State Department in Washington. The Trump administration is poised to tell five nations, including allies Japan, South Korea and Turkey, that they will no longer be exempt from U.S. sanctions if they continue to import oil from Iran. U.S. officials say Pompeo plans to announce on Monday, April 22, that the administration will not renew sanctions waivers for the five countries when they expire on May 2. (AP Photo/Patrick Semansky, File)
April 22, 2019 - 8:19 am

US won't renew sanctions waivers for importing Iranian oil

WASHINGTON (AP) — The Trump administration on Monday told five nations — Japan, South Korea, Turkey, China and India — that they will no longer be exempt from U.S. sanctions if they continue to import oil from Iran. President Donald Trump has decided not to reissue the waivers when they expire on...
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FILE - In this April 8, 2019, file photo, Secretary of State Mike Pompeo speaks at a news conference to announce the Trump administration's plan to designate Iran's Revolutionary Guard a "foreign terrorist organization," at the U.S. State Department in Washington. The Trump administration is poised to tell five nations, including allies Japan, South Korea and Turkey, that they will no longer be exempt from U.S. sanctions if they continue to import oil from Iran. U.S. officials say Pompeo plans to announce on Monday, April 22, that the administration will not renew sanctions waivers for the five countries when they expire on May 2. (AP Photo/Patrick Semansky, File)
April 21, 2019 - 7:32 pm

AP sources: US to sanction nations for importing Iranian oil

WASHINGTON (AP) — The Trump administration is poised to tell five nations, including allies Japan, South Korea and Turkey, that they will no longer be exempt from U.S. sanctions if they continue to import oil from Iran, officials said Sunday. Secretary of State Mike Pompeo plans to announce on...
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