EIA reports a smaller-than-expected weekly rise in U.S. natural gas supplies
The U.S. Energy...
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies rose by 18 billion cubic feet for the week ended Aug. 12. That is compared to an average forecast for an increase of 34 billion cubic feet from analysts polled by S&P Global Commodity Insights. Total working gas stocks in storage stand at 2.519 trillion cubic feet, down 296 billion cubic feet from a year ago and 367 billion cubic feet below the five-year average, the government said.
Benchmark U.S. crude oil for September delivery rose $2.39 to $90.50 a barrel Thursday. Brent crude for October delivery rose $2.94 to $96.59 a barrel.
Wholesale gasoline for September delivery rose 10 cents to $3.03 a gallon. September heating oil rose 3 cents to $3.65 a gallon. September natural gas fell 5 cents to $9.19 per 1,000 cubic feet.
Denbury drives to 52-week high after report of potential sale
Denbury (NYSE:DEN)...
Denbury (NYSE:DEN) extends gains, +3.2% to a new 52-week high on Thursday, following a Bloomberg report that the oil company is exploring options including putting itself up for sale.
Analysts see Denbury (DEN) as underappreciated by the market, despite the attractive valuation based on its sum-of-the-parts, tremendous growth potential ahead on the carbon capture and storage side of its business, and clean balance sheet with zero debt as of the end of Q2.
U.S. stocks end higher as investors digest central bankers’ divergent signals
U.S. stocks closed modestly higher on Thursday as investors digested more economic data and commentary...
U.S. stocks closed modestly higher on Thursday as investors digested more economic data and commentary from senior Federal Reserve officials. The S&P 500 SPX, +0.23% gained 9.70 points, or 0.2%, to 4,283.74. The Nasdaq Composite COMP, 0.21% is up 27.22 points, or 0.2%, to 12,965.34. The Dow advanced 27.22 points, or 0.2%, to 12,965.34. In terms of news, jobless claims data showed a modest decline in the number of Americans applying for benefits, while St. Louis Fed President James Bullard said Thursday he is leaning toward supporting a 0.75 percentage point rate hike at the Fed's September meeting.
The new US climate law has a gigantic methane leak
The Inflation Reduction Act, the biggest climate bill in US history, marks a turning...
The Inflation Reduction Act, the biggest climate bill in US history, marks a turning point in the battle against methane. It imposes a fee of $900 per metric ton of methane emissions starting in 2024, rising to $1,500 by 2026. It’s the first time the US has imposed a fee or tax on any form of greenhouse gas emissions.
The only problem is: The fee won’t apply to most of the country’s methane emissions.
