By: William Watts – Marketwatch – Oil futures can shake off a breathtaking Black Friday plunge and then some, testing $125 a...
In the oilfield’s present-day context of wrenching anxiety over the policies of the Biden administration, historians find the example of the old-time...
Global oil markets turned red quickly after Black Friday. WTI futures in New York and Brent in London plummeted more than 12% from...
By: Michael Collins – USA Today – President Joe Biden is releasing 50 million barrels of oil from the nation’s emergency stockpile...
By: John Kemp – Reuters – President Joe Biden’s request for an investigation into anti-competitive behavior in the oil and gas markets...
By: Pippa Stevens – CNBC – President Joe Biden is asking the Federal Trade Commission to look into behavior from energy companies...
By: Payton May – KOKH – On Tuesday the Biden Administration announced plans to introduce stronger regulations on oil and gas wells....
By: Brandon Evans – Nathan Hasbrook – S&P Global Platts – Merger and acquisition activity among US shale operators surpassed a seven-year...
By: Robert Perkins – S&P Global Platts – Top energy majors have yet to see their oil and gas production recover from...
By: Michael Lynch – Forbes – An old joke about the economy goes that when your neighbor loses his/her job, it’s a...
Six of the 10 biggest losers on the S&P 500 were in the oil and gas group: Halliburton (HAL) -9%, Marathon Oil (MRO) -8.5%, Devon Energy (DVN) -8.3%, Schlumberger (SLB) -8.2%, APA Corp. (APA) -8%, Diamondback Energy (FANG) -7.4%.
Front-month Nymex crude (CL1:COM) for April delivery finished -5.2% to $67.61/bbl, clsoing below $70 for the first time since December 2021 and capping a 12% drop during the past three sessions; front-month May Brent crude (CO1:COM) closed -4.8% to $73.69/bbl.
Also, U.S. front-month Nymex natural gas (NG1:COM) for April delivery ended -5.2% to $2.439/MMBtu.
U.S. stocks ended lower Wednesday, with the Dow Jones Industrial Average falling almost 300 points, as concerns over troubled Credit Suisse Group CS added to worries about the banking system. The Dow DJIA closed 0.9% lower, while the S&P 500 SPX shed 0.7% and the technology-heavy Nasdaq Composite COMP edged up around 0.1%, according to preliminary data from FactSet. The Swiss National Bank said Wednesday that it will provide liquidity to Credit Suisse “if necessary.” The S&P 500’s financial sector slumped 2.8% Wednesday, one of the index’s worst-performing sectors along with energy and materials and industrials.
The energy sector is off to a lower start, pressured by weakness in the underlying commodities and the major market futures. U.S stocks are sharply lower in the pre-market amid fresh worries of a banking crisis along with a larger-than-expected fall in February’s retail sales.
WTI and Brent crude oil are trading down as concerns over Credit Suisse’s impact on the world markets outweighed hopes of a Chinese demand recovery. Oil was higher after China released data showing their economic activity had increased within the first two months of the year, as consumption and infrastructure investment drove the recovery from the country’s COVID-19 curbs. Additionally, a stronger dollar also weighed in on prices. Investors are waiting to see whether today’s EIA inventory data comes in line with yesterday’s 1.2 million barrel increase reported by the API.
Natural gas futures are lower, tracking losses in crude and on forecasts for warmer weather in the near term.
Bill Armstrong isn’t following the industry playbook. As U.S. shale producers consolidate and shrink...
Yuka Obayashi and Katya Golubkova | TOKYO (Reuters) -U.S. President Donald Trump said on...
Baker Hughes, Hunt Energy, and Argent LNG are forming a partnership to create a...
By Charles Kennedy for Oilprice.com | Shell and other major energy players have withdrawn...
Merger and acquisition activity in the U.S. upstream oil and gas sector slowed significantly...
by Andreas Exarheas| RIGZONE.COM | Chevron will “consolidate or eliminate some positions” as part of...
The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
The U.S. oil and gas industry is riding a line between productivity and paralysis....
By Felicity Bradstock for Oilprice.com | The United Nations Development Programme (UNDP) and the...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
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