U.S. natural gas futures slid more than 10% to a near six-month low on Monday, hurt by ample output while mild weather limited heating demand. Front-month gas futures for January delivery on the New York Mercantile Exchange fell 28.1 cents, or 10.9%, to $2.30 per million British thermal units (mmBtu) at 0941 a.m. EST (1441 …
U.S. Natgas Prices rop to Near 6-Month Low on Mild Weather, Ample Output Read More »
Summary Business executives outnumber government officials Deals on nuclear power, natural gas, renewables signed (Reuters) – A stand in the COP28 “startup village” has proved the arena to gain high level access and even clinch deals on the sidelines of U.N. climate talks that are striving for an agreement as countries argue over the future use of …
Summary Excess 2024 supply expected from growth in non-OPEC output China experiencing rising deflationary pressures Investors await central bank interest rate decisions (Reuters) – Oil prices dipped on Monday as worries persisted around crude oversupply despite OPEC+ cuts and softer fuel demand growth next year. Brent crude futures fell 43 cents to $75.41 a barrel …
(Bloomberg) The US plans to hold monthly tenders to buy oil for its strategic petroleum reserve through at least May as the Biden administration moves ahead with plans to refill the caverns that currently sit near the lowest levels in 40 years. The energy department on Friday issued a solicitation to buy as much as …
U.S. to Buy Oil for Strategic Reserve Monthly Through at Least May Read More »
(Bloomberg) At the world’s most important climate summit, the Organization of the Petroleum Exporting Countries — whose members supply almost 30% of the world’s oil — has a pavilion for the first time. There, staff were giving out a children’s book about oil. A grey-haired cartoon Professor named Riggs takes young readers through topics as …
Oil Is Everywhere at COP28, Vexing Those Seeking Its Demise Read More »
Summary Some members balk at fossil fuel phase-out inclusion Saudi, Russia push for focus on emissions not fuels Nations most affected by climate change demand its inclusion DUBAI, Dec 9 (Reuters) – Some countries are resisting a proposed pledge to phase-out fossil fuels in a COP28 climate deal, jeopardising attempts for U.N. climate talks to deliver a …
COP28 Clashes Over Fossil Fuel Phase-Out After OPEC Pushback Read More »
Endeavor Energy Partners is exploring a sale that could value the largest privately-held oil and gas producer in the Permian basin of the United States at between $25 billion and $30 billion, according to people familiar with the matter. The sale would come almost 45 years after Texas oilman Autry Stephens started the company that …
Endeavor Energy Explores Sale for as Much as $30 Billion Read More »
U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row for the first time since November 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by one to 626 …
U.S. Drillers Add Oil and Gas Rigs for Fourth Week in a Row – Baker Hughes Read More »
U.S. natural gas futures eased about 1% to a three-month low on Friday on forecasts for milder weather and lower heating demand through late December than previously expected. The combination of mild weather and near record output should keep the amount of gas utilities pull from storage lower than usual in coming weeks. Analysts forecast …
U.S. Natgas Prices Ease to 3-Month Low on Mild Weather Forecasts Read More »
(Reuters) – More than 250 environmental and community groups on Thursday called on the administration of U.S. President Joe Biden to halt its support for liquefied natural gas (LNG) due to the super-cooled fuel’s contribution to climate change. The groups, led by Friends of the Earth, released a letter to Biden at the COP28 United …
More Activist Nonsense – Green Groups at COP28 Demand U.S. Halt Support for LNG Read More »
