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Energy

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Oil price falls below $96 a barrel

The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world's two largest economies, and a speech by the Federal Reserve chief. Benchmark crude for June delivery was down 25 cents to $95.77 a barrel at midday Bangkok ...

Shuttered Hastings ethanol plant closing permanent

A Hastings ethanol plant that announced in February that it would temporarily shut down will not reopen. The Ag Processing Inc. cooperative said Friday that it is permanently shutting down the 55-million-gallon-a-year plant, citing the plant's age and high utility costs associated with running it. Officials had cited a slowdown ...

FILE--In this 2010 file photo, an oil well undergoes testing in the Lake Albertine region of western Uganda. Even before the first drops flow, Uganda's oil sector is beset by bribery allegations against officials, tax-related cases abroad that cost the government millions in legal fees, and the alleged interference of a president whose firm control of the sector worries transparency campaigners. (AP Photo/Monitor Publications Ltd, File)

Politics, bribery charges swirl around Ugandan oil

Even before the first drops flow, Uganda's oil sector is beset by bribery allegations against officials, tax-related cases abroad that cost the government millions in legal fees, and the alleged interference of a president whose firm control of the sector worries transparency campaigners. Uganda, which has confirmed oil deposits of ...

Angus Friday, Oceans Representative at the World Bank, speaks to delegates attending a Caribbean Summit of Political Business Leaders? at the home of Richard Branson on Necker Island, in the British Virgin Islands, Friday, May 17, 2013.  Political and business leaders gathered Friday to back an initiative aimed at expanding protection for the Caribbean's imperiled coasts and waters. Branson, the adventuring CEO and founder of the Virgin Group of companies is co-hosting the two-day meeting at Necker Island, his home in the British Virgin Islands, where he has developed an ultra-exclusive eco-resort that showcases renewable energy technology, reintroduced flamingoes, imported lemurs and other creatures. (AP Photo/Todd VanSickle)

Caribbean talks conservation on Branson's island

Surrounded by a turquoise sea and a menagerie of exotic animals on a billionaire's private island, political and business leaders gathered Friday to back an initiative aimed at expanding protection for the Caribbean's imperiled coasts and waters. The "Caribbean Challenge" calls for special protected zones along at least 20 percent ...

Business Highlights

___ A year after IPO, Facebook aims to be ad colossus NEW YORK (AP) — It was supposed to be our IPO, the people's public offering. Facebook, the brainchild of a young CEO who sauntered into Wall Street meetings in a hoodie, was going to be bigger than Amazon, bigger ...

FILE - In this April 15, 2008 file photo, the Excelsior arrives at the Freeport LNG (Liquid Natural Gas) terminal in Houston. The Energy Department has given conditional approval to a Texas company that wants to export liquefied natural gas, the second LNG export project the Obama administration has approved as it faces a wave of export requests. The permit would allow Freeport LNG Expansion L.P. to export up to 1.4 billion cubic feet of natural gas per day from its terminal near Freeport, Texas, south of Houston. It is subject to environmental review and final regulatory approval. (AP Photo/Houston Chronicle, Steve Campbell, File)

Energy Dept. backs Texas LNG export plan

The Energy Department on Friday conditionally approved a Texas company's proposal to export liquefied natural gas, only the second such project allowed to move forward amid a production boom that has led to glut of domestic natural gas. The action would allow Freeport LNG Expansion L.P. to export up to ...

Gold prices sink for seventh day, near April low

Gold prices fell for a seventh day in a row on Friday, drawn down by a stronger U.S. dollar and better economic news. Gold for June delivery dropped 1.6 percent, losing $22.20 to settle at $1,364.70 an ounce. The precious metal is nearing the recent low of $1,352 it reached ...

Gold prices sink for seventh day, near April low

Gold prices fell for a seventh day in a row on Friday, drawn down by a stronger U.S. dollar and better economic news. Gold for June delivery dropped 1.6 percent, losing $22.20 to settle at $1,364.70 an ounce. The precious metal is nearing the recent low of $1,352 it reached ...

Oil gains to near $96 as investors eye US economy

The price of oil rose to near $96 a barrel on Friday ahead of the release of Conference Board's index of leading indicators for the U.S. economy. By early afternoon in Europe, benchmark oil for June delivery was up 45 cents to $95.61 a barrel in electronic trading on the ...

Oil rises above $96 on encouraging economic news

The price of oil rose to $96 a barrel on Friday on hopes that a steady recovery in the U.S. economy could boost fuel use. Benchmark oil for June delivery rose 86 cents to close at $96.02 a barrel on the New York Mercantile Exchange. But even with three straight ...

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