Diamondback's Stice to Step Down as CEO, Van't Hof to Succeed
Diamondback Energy CEO Travis Stice will step down from his role as CEO...
Diamondback Energy CEO Travis Stice will step down from his role as CEO later this year, the company announced Feb. 20. Current Diamondback President Kaes Van’t Hof will succeed Stice as CEO of the Permian Basin E&P. He will also join the Diamondback board.
Earlier this week, Diamondback announced a $4.1 cash and stock acquisition of private equity-backed Midland E&P Double Eagle IV.
Last year, Diamondback closed a transformational $26 billion acquisition of private producer Endeavor Energy Resources, cementing it as one of the largest producers in the Permian Basin.
Sen. Mitch McConnell won’t seek reelection in 2026. The...
Sen. Mitch McConnell won’t seek reelection in 2026. The 83-year-old Republican from Kentucky will retire at the end of his current term, he announced yesterday, ending a four-decade run in the US Senate. As the longest-serving Senate party leader in US history, McConnell was long considered a power broker who single-mindedly advanced the conservative agenda while hampering the efforts of Democratic administrations. But in recent years, McConnell’s tenure has been marked by clashes with President Trump and speculation about his health after several falls and freezing episodes. Politico called him “the most consequential Republican senator of his generation.”
Kash Patel, a former federal prosecutor and intelligence official with a history of pushing conspiracy theories, was confirmed by the US Senate to lead the FBI in a 51–49 vote.
New York Gov. Kathy Hochul said she will not remove NYC Mayor Eric Adams from office amid his corruption scandal, but plans to impose guardrails to increase oversight of his administration.
Nvidia launched a new AI platform called Signs to help users learn sign language.
Vape sellers, including Puff Bar and MYLE Vape, were sued by New York’s top prosecutor yesterday for allegedly targeting kids.
Oil rises for third day on US fuel stocks draw, worries about Russia disruptions
(Reuters) - Oil prices settled higher on Thursday, marking a three-day...
(Reuters) - Oil prices settled higher on Thursday, marking a three-day streak of gains, after data showed gasoline and distillate drawdowns in the U.S., while worries about supply disruptions in Russia also supported prices.
Brent futures settled up 44 cents, or 0.58%, at $76.48 a barrel. U.S. West Texas Intermediate crude futures (WTI) for March delivery rose 32 cents, or 0.44%, to $72.57.
The more-actively traded April WTI contract gained 0.35% to $72.50 a barrel.
U.S. crude oil stockpiles rose slightly more than expected while fuel inventories fell last week as seasonal maintenance at refineries led to lower processing, the Energy Information Administration said on Thursday.
"The crude build was a bit larger than expected, but there was a modest draw in gasoline and larger draw in distillate, keeping total inventories flat," said Giovanni Staunovo, an analyst with UBS.
Dow ends down 450 points as Walmart’s tepid outlook weighs on U.S. stocks
Stocks ended with losses, but off session lows, pulling...
Stocks ended with losses, but off session lows, pulling back after disappointing guidance from retail behemoth Walmart Inc. sparked some concern around the health of the consumer.
Walmart shares fell 6.5% on the day, weighing on the Dow Jones Industrial Average, which finished with a loss of 450.94 points, or 1%, at 44,176.65. The Dow was down 677 points at its session low.
The S&P 500 gave up 26.63 points, or 0.4%, to close at 6,117.52, after back-to-back record finishes. The Nasdaq Composite shed 93.89 points, or 0.5%, to end at 19,962.36.
U.S. natural gas futures rose for a seventh consecutive session Wednesday,...
U.S. natural gas futures rose for a seventh consecutive session Wednesday, as the cold blast across much of the U.S. hikes demand for heating and freezes in some production, while forecasts show winter weather stretching into March with large storage withdrawals widening inventory deficits.
Data due today from the U.S. Energy Information Agency is expected to show a 187B cf draw from underground storage, leaving inventories at 2.11T cf, or 109B cf below the five-year average and 377B cf below the year-earlier level, according to a survey of analysts by The Wall Street Journal.
Technical indicators suggest overbought conditions, and physical prices likely will retreat next week as daily demand declines, Eli Rubin of EBW Analytics said, but "cold March weather risks after the coldest January-February in a decade are bridging bullish near-term conditions."
Front-month Nymex natural gas (NG1:COM) for March delivery closed +6.8% to $4.280/MMBtu, a new 52-week high and highest settlement value for the front-month contract since December 30, 2022; U.S. natural gas has surged 40% this month alone and 18% YTD.
