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Stocks end lower...Energy futures fall... Saudi Aramco to buy US liquefied natural gas

May 22, 2019

UNDATED (AP) _ Stocks have closed lower on Wall Street, weighed down by a mixed batch of corporate earnings from big retailers and lingering uncertainty over the trade spat between the U.S. and China. The S&P 500 index fell 8 points, or 0.3%, to 2,856. The Dow dropped 100 points, or 0.4%, to 25,776. And the Nasdaq slid 34 points, or 0.5%, to 7,750. The Russell 2000 index of small company stocks gave up 13.62 points, or 0.9%, to close at 1,531.

UNDATED (AP) _ Energy futures closed broadly lower today. Benchmark U.S. crude fell after the U.S. Energy Department reported a large increase in crude supplies for last week. It dropped 2.7%, settling at $61.42 per barrel. Meanwhile, Brent crude, the international standard, closed 1.6% lower at $70.99 per barrel. Also, Wholesale gasoline slid 1.4% to $1.99 per gallon. Heating oil gave up 1.5% to $2.05 per gallon and natural gas fell 2.7% to $2.54 per 1,000 cubic feet.

NEW YORK (AP) _ Saudi Aramco will begin buying liquid natural gas from a U.S. company under a 20 year agreement. Saudi Arabia’s state-owned oil company says it will buy 5 million tons of liquid natural gas per year from Sempra Energy, based in San Diego. Aramco will make a 25% equity investment in an LNG export facility under development in Port Arthur, Texas, as part of the deal.

CHATTANOOGA, Tenn. (AP) _The United Auto Workers union has filed a new petition seeking to hold a vote on its representation of all hourly workers at Volkswagen’s Chattanooga, Tennessee, plant. The petition was filed today, the same day the National Labor Relations Board dismissed a previous petition on a technicality.

NEW YORK (AP) _ Amazon says shareholders have voted against proposals related to climate change and facial recognition technology despite pressure from civil rights groups, activist investors and its own employees. The two proposals asked Amazon to stop selling its technology to government agencies, citing privacy concerns. The one on climate change pushed Amazon to release a detailed plan on how it will curb fossil fuel use.

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