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U.S. natural gas futures climbed about 3% on Monday on forecasts for more demand this week than previously expected and a continued drop in output as producers reduce drilling activities after gas prices fell to 3-1/2-year lows in February and March. Gas prices increased despite forecasts for milder weather and lower demand next week than …
U.S. Natgas Prices Climb 3% on Forecasts for More Demand, Less Output Read More »
Summary Brent, WTI on track to rise more than 4% this week Traders focused on geopolitical tensions U.S. economy added 303,000 jobs last month U.S. drillers cut of oil and gas rigs (Reuters) – The Brent and U.S. West Texas Intermediate crude oil benchmarks rose more than $1 a barrel during trade on Friday as …
The Week Wrap-Up: Oil Prices Climb 4% This Week on Supply Risk Read More »
Reuters) – There was no surprise that a top meeting of OPEC+ ministers opted to keep output policy unchanged since the global crude oil market is almost exactly where the exporter group wants it. OPEC+’s ministerial committee on Wednesday kept the current output targets but did note that some countries had been over-producing and had undertaken to …
OPEC+ Gets Oil Price to its Sweet Spot, the Trick is Keeping it There Read More »
(Reuters) – Oil prices were steady on Thursday, shored up by concerns about lower supply as major producers keep output cuts in place and on signs of stronger economic growth in the U.S., the world’s biggest oil consumer. Brent futures for June fell 5 cents to $89.30 a barrel at 0919 GMT. U.S. West Texas …
The U.S. has doubled the pace of cutting carbon emissions since President Joe Biden’s Inflation Reduction Act (IRA) passed in 2022, analysts and scientists said, with more than 80 solar, wind and energy storage projects taking advantage of the law’s mix of direct payments and tax credits. The IRA and the Bipartisan Infrastructure Law last …
U.S. Climate Law Has Boosted Solar, Batteries; Hydrogen, Other Initiatives Lag Read More »
The Biden administration on Wednesday awarded contracts to buy 2.8 million barrels of oil for the government’s emergency reserve for more than $81 a barrel, $2 above the target purchase price. The Department of Energy (DOE) said it will spent $225.6 million to buy oil to refill the Strategic Petroleum Reserve (SPR) from Atlantic Trading …
U.S. to Buy Oil for SPR Oil at Above $79 Target Price in Latest Round Read More »
(Reuters) – Oil prices edged up on Thursday, following two consecutive sessions of decline, as investors reassessed the latest data on U.S. crude oil and gasoline inventories and returned to buying mode. Brent crude futures for May were up 40 cents, or 0.5%, at $86.49 a barrel while the more actively traded June contract rose …
Oil Prices Advance as Investors Reassess U.S. Inventories Data Read More »
Summary Climate Action 100+ assessed 10 top oil companies Companies ‘alarmingly unprepared’, TPI Centre’s Sharp U.S. companies perform worse than European peers LONDON, March 27 (Reuters) – The current low-carbon transition plans of 10 of Europe’s and North America’s biggest listed oil and gas companies are not good enough to assess the risks involved, the …
Big Oil’s Climate Planning Not Good Enough, Investor Group Says Read More »
(Reuters) – Oil prices fell for a second day, dropping more than 1% on Wednesday on surging U.S. stockpiles and signs that the OPEC+ producer group is unlikely to change its output policy at a technical meeting next week. Brent crude futures for May dropped 97 cents, or 1.12%, to $85.28 a barrel by 0929 …
(Reuters) – Oil prices rose in Asian trading on Monday on concerns over tighter global supply brought about by escalating conflicts in the Middle East and between Russia and Ukraine, while a shrinking U.S. rig count added to upward price pressure. Brent crude futures climbed 39 cents, or 0.5%, to $85.82 a barrel at 0759 …
Oil Rises as Heightened Geopolitical Risks Exacerbate Supply Concerns Read More »
