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(Reuters) – U.S. natural gas storage is on track to end the April-October summer injection season at a four-year high of 3.899 trillion cubic feet (tcf) on Oct. 31, according to analysts’ estimates. That compares with 3.809 tcf at the end of the summer injection season in 2023, 3.929 tcf in 2020 and a five-year …
US Natgas End-of-Season Storage to Reach Four-Year High in October Read More »
Sept 23 (Reuters) – U.S. oil producers on Monday were scrambling to evacuate staff from Gulf of Mexico oil production platforms as forecasters predicted the second major hurricane in two weeks could tear through offshore oil producing fields. The U.S. National Hurricane Center said a potential Tropical Cyclone System Nine near the western tip of …
Oil Firms Evacuating U.S. Gulf of Mexico Staff as Hurricane Threat Rises Read More »
By Arunima Kumar (Reuters) – Oil prices rose slightly in choppy trade on Monday after last week’s cut to U.S. interest rates and a dip in U.S. crude supply in the aftermath of Hurricane Francine countered weaker demand from top oil importer China. Brent crude futures for November edged up by 16 cents, or 0.21%, to …
Oil Edges Higher as U.S. Interest Rate Cut Counters Weak Demand Read More »
Oil prices can rise after an interest rate cut due to several interconnected economic factors: Weaker Dollar: Interest rate cuts often lead to a weakening of the country’s currency, especially the U.S. dollar. Oil is typically priced in dollars on global markets, so when the dollar weakens, oil becomes cheaper for buyers using other currencies, …
Why Oil Prices Can Rise After an Interest Rate Cut Read More »
Chesapeake Energy’s $7 billion acquisition of rival natural gas producer Southwestern Energy is expected to close early in the fourth quarter, CEO Nick Dell’Osso said on Wednesday. The deal was delayed earlier this year after the U.S. Federal Trade Commission requested additional information from the two. Chesapeake announced the all-stock purchase in January and originally …
Chesapeake Energy Says Deal for Southwestern Energy to Close Early in 4Q Read More »
Fracking site near Midland, Texas, U.S. August 22, 2019. Picture taken August 22, 2019. REUTERS/Jessica Lutz/File Photo (Reuters) – U.S. Vice President Kamala Harris understands natural gas prices will rise if fracking is banned, industry executives said on Tuesday, explaining their confidence that the Democratic candidate will not ban the production method if she becomes …
Harris Understands Fracking Ban Raises Energy Costs, Industry Execs Say Read More »
Summary Offline capacity in Gulf of Mexico still supports prices Markets await decision on Fed rate cut Poor August data stokes China demand worries (Reuters) – Oil prices stabilized on Monday as ongoing disruption to U.S. Gulf oil infrastructure balanced persistent demand concerns after a fresh round of Chinese data while investors await news on …
Oil Prices Stabilize Ahead of Fed Interest Rate Decision Read More »
Summary Brent and WTI both set for weekly gains US offshore oil industry reawakens after Francine shut-ins US oil and gas rig count rises by most in a year Benchmarks hit multi-year lows this week on demand fears (Reuters) – Oil prices fell on Friday as U.S. Gulf of Mexico crude production resumed following Hurricane …
Oil Eases on Resuming U.S. Output After Storm, Rising Rig Count Read More »
Summary Brent and WTI both set for weekly gains Prices supported by supply disruption from Hurricane Francine Demand fears had pushed benchmarks to multi-year lows this week Sept 13 (Reuters) – Oil prices rose about 1% on Friday, extending their rally and putting crude on course for a weekly gain on the back of output …
Oil Price Rally Steers Crude Towards Weekly Gain Read More »
Summary Hurricane Francine makes landfall in Louisiana Nearly 39% of Gulf of Mexico oil production offline IEA’s 2024 oil demand growth forecast cut by 7.2% EIA data shows U.S. oil stockpiles rose last week Sept 12 (Reuters) – Oil prices rose almost 2% on Thursday, extending a rebound spurred by concern over Hurricane Francine’s impact …
Oil Prices Jump Nearly 2% on Fears Over Hurricane Impact on U.S. Output Read More »
