US shale oil, gas production expected to grow in April
The Energy Information Administration predicts that US shale oil production will climb by 117,000...
The Energy Information Administration predicts that US shale oil production will climb by 117,000 barrels per day to 8.7 million bpd in April, driven by gains in the Permian Basin, where output is seen increasing by 70,000 bpd to a record 5.2 million bpd. Shale gas production is also projected to jump by 0.6 billion cubic feet per day to an all-time high of 92.3 Bcf/d in April, with output in Appalachia, the Permian, and the Haynesville Shale, all set to hit records.
MarketWatch: Dow finishes up 600 points as oil extends pullback from 14-year highs
Stocks ended sharply higher Tuesday as oil prices continued to pull back from 14-year highs. The Dow...
Stocks ended sharply higher Tuesday as oil prices continued to pull back from 14-year highs. The Dow Jones Industrial Average DJIA, +1.82% jumped around 599 points, or 1.8%, to close near 33,544, according to prelminary figures, while the S&P 500 SPX, +2.14% advanced around 89 points, or 2.1%, finishing near 4,262. the Nasdaq Composite COMP, 2.92% rose around 367 points, or 2.9%, to end near 12,948.62. Crude prices, which saw the U.S. benchmark soar to a 14-year high near $130 a barrel last week as investors reacted to Russia's invasion of Ukraine and the resulting sanctions against Moscow, have pulled back sharply. Front-month Nymex crude for April delivery CL.1, -7.89% lost $6.57 per barrel, or 6.4% to close at $96.44 a barrel. Investors continued to monitor developments in the Russia-Ukraine war and prepared for the two-day Federal Reserve policy meeting that's expected to conclude with an increase Wednesday with a rise in benchmark interest rates for the first time since 2018.
Investors make record weekly cuts to bullish oil bets
Investors made the biggest cut on record to their bullish Brent crude oil bets during the week ending...
Investors made the biggest cut on record to their bullish Brent crude oil bets during the week ending March 8, selling the equivalent of 142 million barrels in the six top petroleum-related futures and options contracts. The range of pricing for the week was the biggest since the launch of oil futures in the late 1980s, and the reduction in bullish bets was the biggest since 2018.
Natural gas futures extended yesterday’s declines into this morning session ($4.48, down 17...
Natural gas futures extended yesterday’s declines into this morning session ($4.48, down 17 cents), falling amid a pickup in output and new milder forecasts for the weather to turn milder than normal for this time of year. The price declines came even though global gas prices continued to trade around eight times over U.S. futures, keeping demand for U.S. LNG exports at a record high.
