Limited pipeline capacity may fuel rise in Permian flaring
Insufficient natural gas infrastructure is expected to lead to increased gas flaring in the Permian Basin...
Insufficient natural gas infrastructure is expected to lead to increased gas flaring in the Permian Basin next year, potentially constraining shale oil production, according to a new report from East Daley Analytics. The report predicts that in-basin gas production could exceed pipeline takeaway capacity by an average 200 MMcf/d in 2023 and the first half of 2024 and by about 500 MMcf/d in May 2024, a deficit that could grow larger if pipeline projects face delays.
Credit rating agency Fitch warned yesterday that the fight over the debt ceiling could force it to question the US’ perfect credit rating. It said it had put the nation’s triple-A credit rating on “rating watch negative,” meaning it’s poised for a downgrade if lawmakers can’t work things out. Even negotiations that drag on too long before a deal is reached could trigger a downgrade: That’s what happened in 2011, when S&P dinged the US’ credit over default fears. S&P still hasn’t returned the nation’s score to its highest rating.
US stock futures are trading mixed early Thursday. Investors will be watching for the...
US stock futures are trading mixed early Thursday. Investors will be watching for the second reading on the gross domestic product in the first quarter, as well as the latest weekly jobless claims data. Check out the latest market moves.
Earnings on deck: Costco, McDonald's, and Best Buy, all reporting.
Benchmark U.S. crudeoil for July delivery rose $1.43 to $74.34 a barrel Wednesday. Brent crude for July delivery rose $1.52 to $78.36 a barrel.
Wholesale gasoline for June delivery rose 6 cents to $2.72 a gallon. June heating oilrose 5 cents to $2.41 a gallon. June natural gasrose 8 cents to $2.40 per 1,000 cubic feet.
Dow extends losing streak to fourth day as debt-ceiling talks continue
U.S. stocks finished lower on Wednesday, with the Dow posting...
U.S. stocks finished lower on Wednesday, with the Dow posting a four-session skid, as the White House and House Republicans continued debt-ceiling talks ahead of a fast-approaching deadline. The Dow Jones Industrial AverageDJIA fell about 255 points, or 0.8%, ending near 32,800, booking a fourth session in a row of declines, its longest stretch of losses in about two weeks, according to Dow Jones Market Data. The S&P 500 index SPX shed 0.7% and the Nasdaq Composite IndexCOMP closed down 0.6%, according to preliminary FactSet figures. Treasury Secretary Janet Yellen said on Wednesday that it’s “almost certain” that the federal government won’t be able to meet all of its obligations in early June if Congress doesn’t strike a deal on the U.S. debt limit, and that she’s worried about “substantial financial-market distress” even when there’s an agreement to avoid a default.
