HSBC Joins US Banks in Quitting Climate Coalition
Britain’s HSBC became the latest bank to leave the industry’s climate coalition on July 11, following in the footsteps of major U.S. lenders as some governments’ net zero ambitions cool.
US Natgas End-of-Season Storage Seen at Three-Year Low in October
(Reuters) – U.S. natural gas storage is on track to end the April-October summer injection season at a three-year low of 3.797 trillion cubic feet (tcf) on October 31, 2025, according to analysts’ estimates. That compares with an eight-year high of around 3.938 tcf at the end of the summer injection season in 2024 and …
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US Natgas Prices Steady as Rising LNG Exports Offset Less Hot Forecasts
(Reuters) – U.S. natural gas futures held steady on Friday as rising flows to liquefied natural gas (LNG) export plants offset forecasts for less hot weather and lower demand next week than previously expected. Front-month gas futures for August delivery on the New York Mercantile Exchange rose 1.4 cents, or 0.4%, to $3.351 per million …
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Texas Critical Data Centers Close to Closing on Data Center Site
Texas Critical Data Centers LLC, the joint venture between New Era Helium and Sharon AI, is expected to close on its land acquisition site for a data center campus in the Permian.
Saudi Arabia Just Became OPEC’s Newest Cheater
The International Energy Agency says the kingdom exceeded its output quota by about 700,000 barrels a day. The most surprising part of the International Energy Agency’s latest monthly outlook isn’t its demand forecast, which remains pessimistic, but rather what it says about how much oil an OPEC+ stalwart pumped last month. Traditional production quota cheats …
World Oil Market May be Tighter Than it Looks, IEA Says
World oil market may be tighter than it looks, IEA says IEA sees 2025 demand growth slowing to 700,000 bpd Raises 2025 supply forecast after OPEC+ hike Says price indicators suggest tighter physical market (Reuters) – The world oil market may be tighter than it appears despite a supply and demand balance pointing to a …
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OPEC Fortifies Outlier View That Oil Demand Will Grow to 2050
By Grant Smith OPEC reinforced its view — an outlier even within the petroleum industry — that global oil consumption will keep increasing to the middle of the century. Demand will grow by roughly 19% to reach almost 123 million barrels a day by 2050, the Organization of the Petroleum Exporting Countries said in a …
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Chevron Shifts From Local to Centralized Hubs to Cut Costs
By Kevin Crowley and Nathan Risser Chevron Corp. is reducing local and regional business units in favor of a more centralized model to improve performance and cut as much as $3 billion of costs by 2026. A single offshore division will operate assets in the US Gulf, Nigeria, Angola and Eastern Mediterranean while shale assets …
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Oil Edges Higher as Investors Weigh Market Outlook
Summary Brent, WTI rise after 2% loss in previous session IEA describes tight market despite flagging surplus for 2025 Summer travel demand propping up prompt market Trump says he will make a major statement on Russia on Monday (Reuters) – Oil prices edged up on Friday, as investors weighed a tight prompt market against a …
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US Natgas Prices Climb 3% on Small Storage Build, Rising LNG Export Flows
(Reuters) – U.S. natural gas futures climbed on Thursday on a smaller-than-expected storage build, rising gas flows to liquefied natural gas export plants and forecasts for hotter-than-normal weather over the next two weeks than previously expected. Front-month gas futures for August delivery on the New York Mercantile Exchange rose 10.3 cents, or 3.2%, to $3.317 …
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