Looking good, moon. Unlike the crypto market, NASA’s Orion spacecraft reached lunar orbit yesterday and flew just over 80 miles above the surface. Orion’s journey is a key step in the space agency’s Artemis program, which aims to send humans back to the moon for the first time since 1972. If all goes according to plan, the next orbital flight will have astronauts aboard and will happen as early as 2024. Before the end of the decade, “we’re going to be sending people down to the surface and they’re going to be living on that surface,” asserted NASA Program Manager Howard Hu, who oversaw Orion’s launch.
Liquefied natural gas buyers' hunt for reliable, affordable and diverse supplies could boost US LNG...
Liquefied natural gas buyers' hunt for reliable, affordable and diverse supplies could boost US LNG exports to 29 Bcf/d by 2033, a nearly threefold increase from current levels, energy consultancy Wood Mackenzie predicts. "The North America gas market expansion for the next decade will be equivalent to adding two new Permian basins," said WoodMac Director of Americas Gas and LNG Research Dulles Wang.
Crude oil prices first rebounded and then dropped slightly on Monday after Saudi Arabia issued a denial that it might increase oil supplies with OPEC. Oklahoma energy stocks dropped too.
West Texas Intermediate crude for December delivery dropped 35 cents to $79.73 on the New York Mercantile Exchange.
Global benchmark Brent crude for January delivery slipped 17 cents a barrel to $87.45 on ICE Futures Europe.
December natural gas rose 48 cents or 7.50% to $6.78 per 1,000 cubic feet.
U.S. stocks finish lower as Nasdaq paces losses; Disney stock jumps 6%
U.S. stocks ended lower Monday, after a fresh COVID-19 lockdown in China hurt market sentiment...
U.S. stocks ended lower Monday, after a fresh COVID-19 lockdown in China hurt market sentiment and investors weighed remarks from Federal Reserve Bank of San Francisco President Mary Daly on interest rates. The Dow Jones Industrial Average DJIA, -0.13% edged down 0.1%, while the S&P 500 SPX, -0.39% fell 0.4% and the Nasdaq COMP, -1.09% dropped 1.1%, according to preliminary data from FactSet. San Francisco Fed President Daly said Monday that financial markets are acting like the Fed's benchmark rate is around 6%, instead of the actual 3.75%-4% range. Earlier Monday, the Associated Press reported that China's southern metropolis of Guangzhou locked down its largest district in a bid to contain a major COVID outbreak.
Frack-Sand Plant Fire Threatens Supplies for Texas Shale Wells
A frack-sand plant in the Eagle Ford region of Texas erupted in flames over the weekend, imperiling supplies...
A frack-sand plant in the Eagle Ford region of Texas erupted in flames over the weekend, imperiling supplies of a key component in shale drilling.
The blaze at Superior Silica Sands LLC’s sand-processing complex in San Antonio began around 2:30 a.m. local time on Saturday, according to reports from the city’s NBC and CBS television affiliates. A voicemail left at Superior’s Chandler, Arizona, headquarters outside of regular business hours wasn’t immediately returned.
Sand is an essential part of the mix, along with water and chemicals, that frackers pump into shale wells to crack open the rock and release crude oil and natural gas.
“Our hunch is that this may be pretty disruptive to Eagle Ford sand supplies(which were already very tight before this fire) through year-end,” Joseph Triepke, managing director at energy-research firm Lium LLC, wrote in a note to clients on Saturday. ~ Source: Bloomberg
