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The energy sector is off to a higher start, supported by strength in the underlying commodities and in the major equity indices. U.S. stock index futures rose in choppy trading after an increase in the October unemployment rate supported expectations that the Federal Reserve could deliver smaller rate hikes starting in December.
WTI and Brent crude oil futures are up in early trading as the dollar eased, with an EU ban on Russian oil looming large and investors weighing the prospects for an easing of China's COVID curbs. While demand concerns weighed on the market, supply is still expected to be tight, with Europe's upcoming embargoes on Russian oil starting and a slide in U.S. crude stockpiles. The Group of Seven rich nations and Australia have agreed to set a fixed price when they finalize a price cap on Russian oil later this month, rather than adopting a floating rate. U.S. officials and G7 countries have been in intense negotiations in recent weeks over the unprecedented plan to put a price capon sea-borne oil shipments, which is scheduled to take effect on Dec. 5 - to ensure EU and U.S. sanctions aimed at limiting Moscow's ability to fund its invasion of Ukraine do not throttle the global oil market.
Natural gas futures are trading higher on forecasts for much colder weather and higher heating demand in mid-November than previously expected.
Bill Armstrong isn’t following the industry playbook. As U.S. shale producers consolidate and shrink...
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Baker Hughes, Hunt Energy, and Argent LNG are forming a partnership to create a...
Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
By Charles Kennedy for Oilprice.com | Shell and other major energy players have withdrawn...
Merger and acquisition activity in the U.S. upstream oil and gas sector slowed significantly...
by Andreas Exarheas| RIGZONE.COM | Chevron will “consolidate or eliminate some positions” as part of...
The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
The U.S. oil and gas industry is riding a line between productivity and paralysis....
By Felicity Bradstock for Oilprice.com | The United Nations Development Programme (UNDP) and the...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
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