West Texas Intermediate oil fell as investors sold September crude before expiration and purchased cheaper contracts for future delivery. Brent was little changed after falling yesterday to the lowest level in almost 14 months.
Equity futures jumped after RIA Novosti reported that Russia seeks a de-escalation of the conflict in Ukraine. ... Futures had retreated earlier as President Barack Obama approved airstrikes in Iraq, and rocket attacks marked the end of a cease-fire between Israel and Hamas.
Russia slapped import bans on an array of food goods from the U.S. and Europe and threatened to target the automotive, shipping and aerospace industries, striking back at sanctions over the conflict in Ukraine.
Russia relies on companies including Exxon Mobil Corp., BP Plc, Halliburton Co. and Schlumberger Ltd. for the latest technology and expertise it needs to develop an estimated $7.58 trillion in oil and natural gas resources that sprawl across nine time zones.