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Texas, nationwide retail gasoline prices decline 4 cents

Texas, nationwide retail gasoline prices decline 4 cents

COPPELL, Texas (AP) — Texas and nationwide retail gasoline prices have dipped 4 cents this week amid declines in crude oil prices. AAA Texas on Thursday reported the statewide price at the pump was an average $1.61 per gallon. The average U.S. price was $1.82 per gallon. Association officials say the current gasoline prices are the country’s lowest since January ...

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Oil prices edge down as slowing demand adds to high output

SINGAPORE – Crude oil futures came under renewed pressure early on Tuesday as fears of slowing demand added to near-record global production levels, which have already slashed prices by two-thirds since the middle of last year. Front-month U.S. West Texas Intermediate (WTI) futures CLc1 were trading at $36.75 per barrel at 0105 GMT, down 6 cents from Monday’s close. The ...

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Black box hedge funds lead winners from oil drop

Black box hedge funds lead winners from oil collapse.

LONDON/NEW YORK – To make money from the sharp fall in oil prices this year, it helped if you weren’t human. While a handful of big name traders have profited from some of oil’s 35 percent plunge, it has been computer-based or “systematic” funds which have captured much of the spoils. These black box funds use programs to follow various ...

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Baker Hughes lays off 67 workers

FARMINGTON — Baker Hughes Pressure Pumping on Southside River Road in Farmington laid off 67 workers on Tuesday citing low oil and gas prices on the commodities market. Robert “Kevin” Jones, district manager for Baker Hughes Pressure Pumping, said in a phone interview that he learned of the layoffs Tuesday morning in a text message. Jones is on short-term disability ...

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Anadarko approached Apache with offer that was rejected – source

NEW YORK – U.S. oil and gas exploration and production company Anadarko Petroleum Corp has approached Apache Corp with a potential acquisition as low crude oil prices prompt companies to seek merger partners, according to a person familiar with the matter. The prolonged slump in crude oil prices has stirred talk of consolidation among U.S. shale companies, however so far ...

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