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(Reuters) – Oil prices rose for a second day on Thursday, buoyed by a softer dollar and another attack on shipping near Yemen. Brent crude futures rose 35 cents, or 0.4%, to $83.38 a barrel at 1036 GMT. U.S. West Texas Intermediate crude futures climbed 37 cents, or 0.5%, to $78.28 a barrel. The dollar …
(Reuters) – Oil and gas companies and environmental groups on Monday filed dueling legal challenges to the Biden administration’s five-year plan to offer drilling leases in the Gulf of Mexico. The petitions to a U.S. appeals court come four months after the Interior Department unveiled a congressionally-mandated plan for offshore leasing that included just three sales, the …
Oil Industry, Green Groups Challenge Biden Offshore Drilling Plan Read More »
Summary Signs of stronger China demand support sentiment -analyst Beijing cuts mortgage reference rate to bolster property sector Houthis continue to hit shipping in Red Sea (Reuters) – Oil prices edged lower on Tuesday but remained near three-week highs on heightened Middle East tensions and as China showed some signs of economic recovery. Brent futures …
Oil Hovers Near 3-Week High on Middle East Tensions, China Demand Read More »
Shale drillers can ‘consolidate or get eaten’: Warwick CEO US oil producers now in ‘arms race’ for scale, investor says This week’s $26 billion combination of two Texas oil companies is the latest in a series of deals that’s ushering in the era of Big Shale. Wall Street, which eyed the sector with skepticism for …
Wall Street Is Warming to Big Shale After $250 Billion of Deals Read More »
Summary Israel strikes Rafah IEA trims oil demand growth forecast India-bound oil tanker hit by missile fired from Yemen (Reuters) – Oil prices settled higher on Friday as geopolitical tensions in the Middle East more than offset a forecast from the International Energy Agency for slowing demand. Brent crude futures settled up 61 cents, or …
Oil Settles Up, Records Weekly Gain on Middle East Tensions Read More »
(Reuters) – Oil slipped on Friday as a forecast of slowing demand by the International Energy Agency offset support from geopolitical tensions and hopes that the U.S. Federal Reserve might cut interest rates sooner than expected. Weighing on sentiment, the IEA said on Thursday that global oil demand growth was losing momentum and it trimmed its 2024 …
Oil Slips as Weaker IEA Demand Outlook Offsets Rate Cut Hopes Read More »
U.S. natural gas producers are slashing spending and reducing drilling activity following a sharp decline in prices, companies said this week during earnings presentations and analyst calls. For months of relatively low gas prices, many producers kept output mostly steady on expectations that demand would rise in 2024 and 2025 when several liquefied natural gas …
U.S. Natgas Drillers Cut Spending, Reduce Activity Amid Price Crash Read More »
(Reuters) – Oil prices were little changed on Wednesday, holding on to Tuesday’s gains on a robust demand growth forecast from OPEC and a sharp decline in U.S. fuel stocks. Brent crude futures rose by 12 cents, or 0.14%, to $82.89 a barrel by 1235 GMT. U.S. West Texas Intermediate (WTI) crude futures were up …
Oil Holds Firm on OPEC Demand Forecast and U.S. Fuel Stocks Read More »
(Reuters) – Oil prices slipped on Monday as investors indulged in some profit-taking after both benchmarks ended last week about 6% higher on Middle East tensions and as refining outages squeezed refined products markets. Brent crude futures were down 82 cents, or about 1%, at $81.37 a barrel, while U.S. West Texas Intermediate crude futures …
Oil Slips After Rally Last Week on Middle East, Right Supply Read More »
U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, 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 4 to 623 in the week to Feb. 9, its …
U.S. Drillers Add Oil and Gas Rigs for Third Time in Four Weeks – Baker Hughes Read More »
