Oil and Gas
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May 18- Texas has joined the crowd of Gulf of Mexico states to file suit against BP Plc, Halliburton Co and others for their role in one of the worst oil spills in U.S. history. Texas joins four other states that have sued BP and other companies in connection to the spill: Florida and Mississippi filed complaints last month, while Alabama and Louisiana did in 2010..
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Hess and Elliott Management ended a long-running proxy feud, settling on a mix of new directors and putting a battle over the company's strategy behind them.
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The Energy Department's Energy Information Administration reported that natural gas in storage grew by 99 billion cubic feet to 1.964 trillion cubic feet for the week ended May 10. Analysts expected a rise of 93 billion to 97 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
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CHICAGO-- Supporters of high-volume oil and gas drilling said Wednesday that they hope for a quick vote on a bill to regulate the practice in Illinois after reaching agreements on hiring and environmental concerns.
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*Cyprus gas could provide 40 pct of new EU needs. BRUSSELS/ NICOSIA, May 16- Cyprus could use its reserves of gas to meet up to 40 percent of Europe's additional gas needs over the next decade, helping to curb the European Union's reliance on Russia, the head of the island's national gas firm said.
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MONTPELIER, Vt.-- The owner of a crude oil pipeline that runs between Maine and Montreal is asking Vermont environmental regulators to reconsider a ruling that would require a new review under the state's land-use planning law if the company seeks to move Canadian tar sands oil to Portland for possible shipment to markets across the world.
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LONDON, May 16- Brent oil futures climbed above $104 on Thursday, responding to dollar declines, while a jump in U.S. jobless claims capped gains as they added to the bearish demand outlook.
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LONDON, May 16- Solar panels were cheaper than wind turbines for the first time last year in certain markets, per unit of capacity, and are rapidly closing a remaining gap in the full cost of power generation.
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NEW YORK-- The Energy Department is expected to report on Thursday that the nation's natural gas supplies grew by 93 billion to 97 billion cubic feet in the week ended May 10, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
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LONDON, May 16- Brent oil futures slipped towards $103 a barrel on Thursday after a sharper-than-expected drop in U.S. factory output muddied the outlook for demand and a stronger dollar added downward pressure. Brent fell 62 cents to $103.06 a barrel by 0857 GMT, after rising on Wednesday by $1.08, the most in dollar terms since May 6.
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LONDON, May 16- British oil company BP wants Prime Minister David Cameron to intervene with the U.S. government over the escalating cost of compensating U.S. companies for the Gulf of Mexico oil disaster in 2010, the BBC reported Thursday.
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--Clyde Russell is a Reuters market analyst. LAUNCESTON, Australia, May 16- The decline in China's implied oil use in April to an 8- month low, coupled with flat crude imports, gives the impression of weak demand, but the numbers aren't telling the whole story.
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NEW YORK, May 16- U.S. companies are hiring more workers and home prices, stock markets and energy production are climbing. The Congressional Budget Office on Tuesday slashed its budget deficit forecast for the current fiscal year ending Sept. 30 to $642 billion, a massive $203 billion cut from its estimate in February.
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Russia is set for 10 years of anemic growth, according to economists, who said the slowdown is predominantly due to low investment and structural factors.
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SINGAPORE, May 16- U.S. crude futures slipped towards $94 a barrel on Thursday as rising U.S. gasoline stocks weighed on sentiment, but prices were buoyed as talks between the United Nations' nuclear agency and Iran stalled. U.S. crude had fallen 18 cents to $94.12 a barrel by 0300 GMT, after ending 9 cents higher to snap four sessions of losses.
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You say the name of a stock, and Mad Money's Jim Cramer tells you whether to buy or sell.
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*Copper, gold extend losses on dollar's strength. *Wheat at two-week bottom; soy, corn end lower too. NEW YORK, May 15- Brent crude oil closed up for the first time in four sessions on Wednesday, spurred by a rally in U.S. stocks, but copper and gold extended their losses as the dollar's strength continued to weigh on various commodities priced in the currency.
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CNBC's Melissa Lee and the Fast Money traders discuss the day's top trades and the stocks they'll be watching Thursday.
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OTTAWA, May 15- The Canadian province of Quebec, citing public concerns, unveiled a bill on Wednesday to impose a moratorium on hydraulic fracturing, known as fracking, in a region rich in shale gas deposits. It would ban gas exploration and extraction in the Lowlands region of the St Lawrence River, site of the rich Utica and Lorraine shale gas formations.
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CNBC's Bertha Coombs says negative economic data from Europe put pressure on commodities overall. Prices at the pump are 12 cents below where they were a year ago.
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*IAEA nuclear talks with Iran reach deadlock. NEW YORK, May 15- Brent crude oil prices rose by more than $1 on Wednesday, reversing early losses to settle above $103 a barrel and increasing its premium over U.S. crude to the largest in 13 sessions.