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By: Reuters – The UK is expected to announce dozens of new North Sea oil and gas exploration licenses in an effort...
France will restart a shuttered pipeline to send natural gas to energy-strapped Germany, Reuters reported. The formerly east-west pipeline will deliver about...
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By: Reuters – The Kremlin on Monday blamed the West for triggering the worst European gas supply crisis ever and warned the...
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By: Reuters – A Texas family which owns 70,000 acres in the Permian basin is exploring options including a sale, putting up...
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(Wednesday market close) The Dow Jones Industrial Average® (DJI) edged to another all-time high close Wednesday while other benchmarks were little changed in light holiday season activity. Many investors remained sidelined and waiting for the first week of the new year, which will bring a key jobs report and other numbers likely to influence the Federal Reserve's path on interest rates.
With little earnings or economic news scheduled this week, the market largely remained in a holding pattern, though with a continued upside bias driven by expectations for multiple Fed rate cuts in 2024 and a potential economic "soft landing." Another drop in Treasury yields reinforced ideas U.S. interest rates established a peak about two months ago. The 10-year note (TNX) fell to a five-month low under 3.80%.
The S&P 500® index (SPX) rose for a fourth straight day and ended within 0.3% of its record-closing high of 4,796.56, posted on January 3, 2022.
The market conveys "a bit of exhaustion and profit-taking sentiment" in the wake of the strong rally for the past two months, said Kevin Gordon, senior investment strategist at Schwab. "But it's not anything major because we’re in a quieter period right now. I think momentum will pick up next week given the slate of economic data we’ll be getting." Here's where the major benchmarks ended:
Benchmark U.S. crude oil for February delivery fell $1.46 to $74.11 per barrel Wednesday. Brent crude for February delivery fell $1.42 to $79.65 per barrel.
Wholesale gasoline for January delivery fell 1 cent to $2.15 a gallon. January heating oil fell 5 cents to $2.62 a gallon. January natural gas rose 7 cents to $2.62 per 1,000 cubic feet.
Williams has reached an agreement to acquire a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion, the company said Dec. 27.
The transaction includes six underground natural gas storage facilities in Louisiana and Mississippi with a total capacity of 115 Bcf, as well as 230 miles of gas transmission pipeline and 30 pipeline interconnects to attractive markets, including LNG markets, and connections to Transco, the nation’s largest natural gas transmission pipeline.
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Yuka Obayashi and Katya Golubkova | TOKYO (Reuters) -U.S. President Donald Trump said on...
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The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
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(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
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