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By: David French – Reuters – Energy bankers and hedge fund managers who lost one client after another when poor returns pushed...
(Bloomberg) — Global power grids are about to face their biggest test in decades with electricity generation strangled in the world’s largest...
(Bloomberg) — The liquefied natural gas market is hurtling toward a potentially historic shortage this winter as the world rushes to secure...
FORT WORTH, Texas—In the Permian Basin, the popularity of longer laterals is slowly but steadily rising, according to Rystad Energy’s upstream research...
By: Monica Madden – KETK – Friday marks the last day of early voting before the May 24 runoff election, where several...
By: Hart Energy – Permian operator Colgate Energy agreed on May 19 to combine with Centennial Resource Development Inc., squashing recent rumors that...
Story by Justin Jacobs, Financial Times. Prices for fuel at the pump have gotten even more painful of late—and things could get...
Story from Hart Energy: Exxon Mobil said on May 19 that it signed an agreement with subsidiaries of Denver-based BKV Corp. for the sale...
FORT WORTH, Texas—Gene Shepherd, CEO of VTX Energy Partners, is on the hunt for $1 billion deals in the U.S. Lower 48...
Warren E. Buffett has been at the forefront of American capitalism for decades as the chief executive of Berkshire Hathaway, the conglomerate he built into a $1.1 trillion colossus.
By the end of the year, he is preparing to give up that role.
Mr. Buffett said at the company’s annual shareholder meeting on Saturday that he plans to ask Berkshire’s board to approve making Gregory Abel, his heir apparent, the chief executive by the end of the year.
Mr. Buffett, 94, told the tens of thousands of Berkshire shareholders at the meeting in Omaha that Mr. Abel would have “the final word” regarding the company's operations, investments, and other matters.
However, Mr. Buffett added that he “would still hang around and conceivably be useful in a few cases.” He will remain chairman of Berkshire—turning that role over to his son Howard Buffett upon his death—and remains the single biggest shareholder in Berkshire, with a roughly 14 percent stake worth about $164 billion.
OPEC+ stunned the oil market last month with a 411K bbl/day May production hike that was triple the amount originally planned. The cartel is apparently trying to discipline over-producing members such as Kazakhstan by driving down prices, and Bloomberg reported that it is considering doing the same again next month.
Goldman Sachs expects OPEC+ to announce a 410K bbl/day supply increase for June, citing modest compliance from Kazakhstan, lower-than-expected OECD inventories, and Saudi Arabia's ability to handle lower oil prices.
The bank also maintained its oil price forecast, expecting Brent crude to average $63/bbl and WTI crude at $59/bbl for the rest of 2025, with prices sliding further in 2026 to $58 for Brent and $55 for WTI, and that a global slowdown or a complete reversal of the 2.2M bbl/day of voluntary OPEC+ cuts could push Brent prices into the $40s next year.
The U.S. stock market ended sharply higher Friday, with the S&P 500’s rally erasing its losses after President Donald Trump announced sweeping tariffs on April 2.
The S&P 500 climbed 82.53 points on Friday, or 1.5%, to close at 5,686.67.
The Dow Jones Industrial Average climbed 564.47 points, or 1.4%, to finish at 41,317.43.
The Nasdaq Composite jumped 266.99 points, or 1.5%, to end at 17,977.73
The labor market has been a bright spot, with a pace of job growth remaining healthy even as the economy has lost momentum in the last three months. Economists expect the job market to soften given all the uncertainty over tariffs, but, in general, they think April might be too soon to see a significant weakening. Which sectors show strength and weakness will matter more this month than usual.
U.S. economy adds 177,000 jobs in April, above 133,000 forecast. U.S. unemployment rate stays the same in April at 4.2%.
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by Bloomberg|David Wethe, Alix Steel | Energy Secretary Chris Wright sought to reassure US...
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Source: EIA | Higher oil prices, increased drilling efficiency, and structurally lower debt needs...
After months of tough negotiations and political tension, the United States and Ukraine have...
Russia and Iran have cemented a preliminary energy pact that could dramatically reshape regional...
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