Oil prices reached their highest point in five months due to the combination of a weakening dollar, an interest-rate cut in Japan, a strike by French workers and a barge crash that closed off a Texas shipping route.
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Political upsets in Peruvian regional elections could indicate a national shift to the left — and some business leaders worry that could discourage foreign investment in the country, which has rich natural resources such as oi…
Oil giant Chevron said it will purchase as much as $1 billion of its common stock in the fourth quarter — a move its CFO chalks up to “ongoing capital discipline and strong cash flows.”
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The Coast Guard estimates that a barge crash that took out power lines and halted shipping traffic across the Houston Ship Channel may end up costing as much as $1 billion in economic loss.
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In a sign that large fossil-fuel power plants may be falling out of favor, French engineering company Alstom on Monday announced plans to cut 4,000 jobs in the next 17 months. Alstom cited low demand for its coal and natural-ga…