While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
Of the recessions the U.S. has seen dating back to the early 1980s, none has come without an oil spike of at least 90%.Economyread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
Shares of defense companies rose on Monday after the United States military was put on alert by President Donald Trump.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
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Amazon changed the algorithms that power its product-search system to favor the company's own products, The Wall Street Journal reported.Technologyread more
Between 180 and 200 underperforming GameStop stores are set to shutter before the end of the fiscal year, and more could be on the way.Entertainmentread more
Nebraska@ (Adds reaction from TC Energy, Sierra Club, background)
CALGARY, Alberta/WASHINGTON, Aug 23 (Reuters) - A court in Nebraska on Friday affirmed an alternative route in the Midwest state for TC Energy Corp's Keystone XL oil pipeline in the latest chapter in the nearly 10-year legal fight over the Canada to Texas pipeline.
Keystone XL would ship 830,000 barrels per day (bpd) of crude from the oil marketing hub of Hardisty, Alberta, to Steele City, Nebraska, but has been subject to years of delay because of fierce environmental and landowner opposition.
The Nebraska Supreme Court affirmed the alternative route that was approved by the state's Public Service Commission, TC Energy said in a statement. This was not the preferred route of the company.
The Nebraska Public Service Commission (PSC) in November 2017 did not approve TC Energy's preferred route, and instead granted an alternative route that shifted it closer to an existing pipeline right-of-way down the eastern side of the state.
That had prompted landowners and indigenous groups to sue on the grounds the PSC could only greenlight an application that was made to it.
Nebraska's Supreme Court ruled against that argument, finding the PSC did have the power to approve a route that TC Energy, formerly known as TransCanada, had not applied for.
"The Supreme Court decision is another important step as we advance towards building this vital energy infrastructure project," said Russ Girling, TC Energy's chief executive said in a statement.
Opponents of the pipeline vowed to continue fighting to stop it going ahead.
"Today's ruling does nothing to change the fact that Keystone XL faces overwhelming public opposition and ongoing legal challenges and simply never will be built," said Ken Winston, attorney for the Nebraska Sierra Club. (Reporting by Nia Williams and Valerie Volcovici Editing by Marguerita Choy)