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June 28 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a fourth week in a row to the lowest since December 2021, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. The oil and gas rig count, …
U.S. Drillers Cut Oil and Gas Rigs for 4th Week to Lowest Since Dec 2021 -Baker Hughes Read More »
Summary US gasoline demand fell in April -EIA US personal consumption inflation in line with forecasts US oil rig count hits lowest since December 2021 (Reuters) – Oil prices fell on Friday as investors weighed weak U.S. fuel demand and took some money off the table at quarter-end, while key inflation data for May boosted …
Oil Eases on Weak U.S. Fuel Demand, Profit Taking Read More »
U.S. oil production and demand rose to a four-month high in April, according to the Energy Information Administration’s (EIA) Petroleum Supply Monthly report published on Friday. Total U.S. field production of crude oil rose by 72,000 barrels per day (bpd) month-over-month to 13.25 million bpd, the highest since December. Product supplied of crude oil and …
U.S. Oil Output, Demand Rose in April to Four-Month High, EIA Says Read More »
Crude markets have exhibited an increasing disconnect this month between rising spot prices and calendar spreads on the one hand and swelling inventories on the other. But futures markets are forward-looking and traders appear to be anticipating a much tighter supply situation that would underpin the higher prices and spreads over the next few months. …
Oil Traders Expect Large Inventory Draw in Third Quarter: Kemp Read More »
Spot natural gas prices at the Waha hub in West Texas turned negative for a second time this week even as power demand was set to break the record high for June as homes and businesses crank up their air conditioners to escape a brutal heat wave. The Electric Reliability Council of Texas (ERCOT), which …
Texas Natgas Prices Negative Even With Power Use Near June Record in Heat wave Read More »
SACRAMENTO, Calif. (AP) — A California law that bans drilling new oil wells near places like homes and schools will take effect after the oil industry on Thursday withdrew a referendum from the November ballot asking voters to overturn it. The law, first passed in 2022, had been delayed because the California Independent Petroleum Association gathered …
LandBridge, a landowner in the oil-rich Permian Basin in the United States, set the pricing of its initial public offering (IPO) at $17 per share to raise around $246.5 million, it said on Thursday. The Houston, Texas-based company priced its IPO below its previous target range of $19-$22, valuing it at around $1.2 billion based …
Permian-Focused LandBridge Prices U.S. IPO Below Range at $246.5 Mln Read More »
Lawyer Duo Make Billions From Audacious Natural Gas Bet The founders of Venture Global stand at the forefront of a US natural gas export boom that’s now in question. The US Gulf Coast is probably the only place in the world where two men with virtually no experience running an energy business could upend a …
Banker-Lawyer Duo Make Billions From Audacious Natural Gas Bet Read More »
(Reuters) – Spanish oil major Repsol plans to sell a minority interest in its Eagle Ford shale assets in South Texas, in a deal that could value the assets at up to $2 billion, three sources familiar with the talks told Reuters. The sources said Repsol has hired Scotiabank to assist with the process, and aims to …
Repsol Explores Sale of Minority Stake in South Texas Oil Assets – Sources Read More »
Summary Brent 2024 average is forecast at $83.93 a barrel in poll WTI 2024 average is forecast at $79.72 a barrel in poll Prices could spike to $90 depending on summer use, geopolitics (Reuters) – Oil prices will not change much in the second half of 2024 as concerns around demand from China and prospects …
Oil Prices to Stay Steady as China Demand Woes Offset Mideast Risks – Reuters Poll Read More »
