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U.S. natural gas futures jumped about 6% to a three-week high on Monday as producers cut output after prices collapsed to a 3-1/2-year low in recent weeks. Front-month gas futures for April delivery on the New York Mercantile Exchange rose 11.7 cents, or 6.4%, to $1.952 per million British thermal units (mmBtu) at 1:05 p.m. …
U.S. Natgas Prices Jump 6% to 3-week High as Output Drops Read More »
(Reuters) – A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve. The desire for a hard line on China is one of the few truly bipartisan sentiments in the deeply divided U.S. Congress, and lawmakers have introduced dozens of bills …
U.S. Funding Bill Blocks China From Buying Oil From Strategic Petroleum Reserve Read More »
Summary OPEC+ extend 2.2 mln bpd voluntary oil output cuts through Q2 Russia to cut oil output and exports by another 417,000 bpd Brent spreads widen after OPEC+ announcement LONDON, March 4 (Reuters) – Oil prices were little changed on Monday following the widely expected extension of voluntary output cuts through the middle of the …
Oil Steadies After OPEC+ Extends Output Cuts as Expected Read More »
U.S. energy firms this week added oil and natural gas rigs for a second straight week to their highest since September, 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 three to 629 in the week to …
U.S. Oil and Gas Rig Count Rises to Highest Since September- Baker Hughes Read More »
Reuters Breakingviews) – The Oracle of Omaha’s crystal ball failed him. Warren Buffett conceded in his latest annual letter to Berkshire Hathaway shareholders released over the weekend that he made a “costly mistake” about electricity. The error was thinking that investing huge sums to supply it to American homes and businesses would generate a steady …
Buffett Puts $1 Trillion Grid Problem in a Bad Light Read More »
PCE price index expected to be released at 1330 GMT U.S. crude stockpiles build for fifth straight week Market eyes potential extension to OPEC+ supply cuts LONDON, Feb 29 (Reuters) – Oil prices were little changed Thursday as investors kept their powder dry ahead of U.S. data expected to offer further clues on the outlook …
Oil Prices Steady as Market Awaits Interest Rate Cues Read More »
(Reuters) – Shell’s U.S. solar business Savion has put around a quarter of its assets up for sale, according to a marketing document and industry sources, as the oil major extends a retreat from owning renewables projects under CEO Wael Sawan. Investment bank Jefferies is running the sale of up to 10.6 gigawatts (GW) of solar generation …
Summary Federal Reserve appears in no rush to cut interest rates U.S. crude inventories rise OPEC+ to consider extending supply curbs (Reuters) – Oil prices pulled back on Wednesday as the prospect of delays to U.S. interest rate cuts and a jump in U.S. crude stocks that trounced expectations offset a boost from a potential …
Oil Falls on Fed Rate Cut Caution and Stocks Build Read More »
(Reuters) – Exxon Mobil’s surprise challenge to Chevron’s acquisition of Hess through a dispute over a stake in a major Guyana oil field could prove fruitful for the U.S. oil giant, even if it does not end up enlarging its holdings in the South American country. Exxon (XOM.N) said on Monday it may exercise pre-emptive rights that could …
Exxon’s Curveball Move in Guyana Alters Chevron-Hess Deal Prospects Read More »
(Reuters) – Oil prices were largely stable on Tuesday, as investors weighed up signals of a Gaza ceasefire against the reality on the ground in the Middle East. Brent crude futures fell 10 cents, or 0.12%, to $82.43 a barrel by 0923 GMT, while U.S. West Texas Intermediate crude futures (WTI) were down 7 cents, …
Oil Prices Steady as Investors Weigh up Gaza Ceasefire Signals Read More »
