Oil settles up over 1% on large draw from US crude stocks
Reuters) - Oil prices settled more than 1% higher on Friday and recorded...
Reuters) - Oil prices settled more than 1% higher on Friday and recorded a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from U.S. crude inventories last week.
Brent crude futures rose 91 cents, or 1.2%, to settle at $74.17 per barrel. U.S. West Texas Intermediate crude futures rose 98 cents, or 1.4%, to $70.60 per barrel. On a weekly basis, both Brent and WTI crude gained about 1.4%.
U.S. crude oil inventories fell by 4.2 million barrels in the week ended Dec. 20 as refiners ramped up activity and the holiday season boosted fuel demand, data from the U.S. Energy Information Administration showed on Friday.
Analysts polled by Reuters had expected a 1.9 million-barrel drawdown, whereas figures from the American Petroleum Institute released earlier in the week estimated a 3.2 million-barrel draw, according to market sources.
Venture Bayou sets sail for Germany with Plaquemines' first LNG cargo
Venture Global has sent...
Venture Global has sent its first cargo of liquefied natural gas from the Plaquemines facility in Louisiana to Germany, marking a new chapter for US LNG exports. The tanker Venture Bayou is expected to arrive in Brunsbuttel, Germany, by Jan. 8, 2025, delivering the cargo to utility EnBW.
U.S. stocks end sharply lower, while recording weekly gains
U.S. stocks ended lower on Friday, while all three indexes...
U.S. stocks ended lower on Friday, while all three indexes scored a weekly gain, amid concerns around Donald Trump’s potential trade policy and the interest rate expectations next year.
The Dow Jones Industrial Average went down 333.59 points or 0.8% to 42,992.21 on Friday, according to Dow Jones Market Data. It is up 151.95 points or 0.4% this week, snapping a three-week losing streak.
The S&P 500 fell 66.75 points or 1.1% to 5,970.84. It is up 39.99 points or 0.7% this week.
The Nasdaq Composite went down 298.33 points or 1.5% to finish at 19,722.03 on Friday. It is up 149.43 points or 0.8% this week.
The bald eagle has been formally recognized as the official national bird after President Joe Biden signed legislation on Christmas Eve. The recognition came as Biden signed roughly 50 bills, including an anti-hazing law, weeks before his term ends.
The bald eagle (Haliaeetus leucocephalus) has been featured on the US Great Seal since 1782, a mark used by the State Department and printed on the dollar bill (see here). The bird is the only eagle indigenous to North America and is considered sacred by many Native American tribes. The bird of prey became endangered in the 1900s amid hunting and pesticide use, with nesting pairs dropping from an estimated hundreds of thousands in the 1800s to fewer than 500 in 1963. Hunting bans and conservation efforts returned their numbers to 19th-century levels.
The US natural gas industry is poised for significant growth as new LNG hubs are expected to come online with President-elect Donald Trump set to take office. The industry anticipates a supportive administration that will fast-track infrastructure projects, potentially leading to increased exports and development. Despite previous constraints due to public aversion and permitting challenges, the market is optimistic about future LNG facilities and their ability to meet global demand.
