Oil prices tumble more than $2 ahead of potential large U.S. rate hike
LONDON (Reuters) -Oil prices fell more than $2 on Thursday as investors focused on the prospect of a...
LONDON (Reuters) -Oil prices fell more than $2 on Thursday as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand.
Brent crude futures for September were down $2.14 to $97.43 a barrel at 1038 GMT after settling below $100 for a second straight session on Wednesday.
U.S. West Texas Intermediate crude for August delivery was at $93.78 a barrel, down $2.52.
Top Wall Street firms agree that stocks are set to rally in the second half of the year, but...
Top Wall Street firms agree that stocks are set to rally in the second half of the year, but their forecasts vary wildly. JPMorgan, Goldman Sachs, Morgan Stanley, and others all have predictions for the rest of 2022. See what the heavyweights expect to happen next — and how they say to invest.
Hamm’s “take private” offer under review by Continental directors
The Board of Directors at Oklahoma City’s Continental Resource, Inc. indicated this...
The Board of Directors at Oklahoma City’s Continental Resource, Inc. indicated this week it has moved to explore founder Harold Hamm’s $70-a-share offer in a bid to take the company private.
His $4.4 billion cash “take private” offer was made in mid-June and the Board confirmed Wednesday it had formed a special committee of independent directors to evaluate and consider the Hamm Family’s proposal. The special committee also hired independent legal and financial advisors and the committee’s “evaluation is ongoing.”
Continental shares closed Wednesday at $63.30, a gain of 34 cents or about half a point.
Nearly 2,400 barrels of oil a day were reported as the combined production of two single-pad wells in...
Nearly 2,400 barrels of oil a day were reported as the combined production of two single-pad wells in Canadian County.
Ovintiv Inc. in reports filed this week with Oklahoma regulators, said the Peters 1407 4h-15x, located at 15 14N 7W, a site about 3 miles southeast of Okarche, had initial production of 1,375 barrels of oil a day and 1,076 Mcf of natural gas when completed in January. Drilling depth was 19,517 feet in the Mississippian formation following a May 2021 spud date according to the completion report.
The sister well, the Peters 1407 5h-15x, drilled at a depth of 19,935 feet, produced 1,013 barrels of oil a day and 1,048 Mcf of natural gas. It too had a May 2021 spud date as stated in the completionreport.
The heat already has raised power demand to record levels in Texas and other parts of the U.S. as homes and businesses crank up their air conditioners.
Front-month Nymex natural gas (NG1:COM) for August delivery settled +8.5% to $6.689/MMVtu, the highest close since June 22.
