Crude oil recovers from Monday’s loss

Daniel J. GraeberNEW YORK, Jan. 26 (UPI) — Crude oil prices started Tuesday in volatile territory after giving up recent gains, but held above $30 per barrel amid modest signs of economic optimism.

Aliso gas leak effort in final phase

Daniel J. GraeberLOS ANGELES, Jan. 26 (UPI) — The steps necessary to stop the gas leak from Aliso Canyon in California is underway, though work won’t be done until the end of February, a gas company said.

Hess trims spending guidance

Daniel J. GraeberNEW YORK, Jan. 26 (UPI) — U.S. upstream player Hess Corp. said it was cutting planned spending for exploration and production for the year by 20 percent to $2.4 billion.

Iran, Italy sign energy agreements

Daniel J. GraeberROME, Jan. 26 (UPI) — Italian energy company Saipem said it signed an agreement to explore the option for working in the opening Iranian oil and gas sector.