Why Shares in Baker Hughes, Halliburton, and Schlumberger Surged in January
It's been a super start to the year for the oil sector and the oil services sector in particular. For...
It's been a super start to the year for the oil sector and the oil services sector in particular. For example, according to data provided by S&P Global Market Intelligence, oil services stock Baker Hughes (NASDAQ: BKR) rose 14% in January, while Halliburton (NYSE: HAL) and Schlumberger (NYSE: SLB) gained 34.4% and 30.5%, respectively, in the month. Furthermore, on a three-year basis, these stocks have massively underperformed the S&P 500, with only Baker Hughes up around 11% during the period.
EIA reports a smaller-than-expected weekly fall in U.S. natural-gas supplies
MARKET PULSE The U.S. Energy Information Administration reported on Thursday that domestic natural-gas...
MARKET PULSE The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies fell by 268 billion cubic feet for the week ended Jan. 28. That compared with the average decline of 274 billion cubic feet forecast by analysts polled by S&P Global Platts, which pegged the five-year average supply fall for the period at 150 billion cubic feet.
Natural gas futures on the front-end are down 10%, or just over 50 cents, giving back...
Natural gas futures on the front-end are down 10%, or just over 50 cents, giving back some of yesterday’s 15% gains, as prices remain volatile and ahead of weekly inventory data. Analysts expect a draw of 280 bcf to be reported.
Energy stocks opened lower, tracking a sharp drop in the broader index futures and more than 1% declines...
Energy stocks opened lower, tracking a sharp drop in the broader index futures and more than 1% declines in oil prices. A wide earning miss and weak near-term forecast from Meta Platforms is weighing broadly on social media and technology stocks, which comprise the largest sector weighting in the market. Meanwhile, earnings from the likes of ConocoPhillips and Shell continued to exceed expectations, while both remained focused on bolstering total returns in the forms of dividends and share repurchases.
Oil prices eased on Thursday following weak U.S. payrolls data and some profit-taking but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases. Still, tight global supplies and geopolitical tensions in Eastern Europe and the Middle East have boosted oil prices by about 15% so far this year. OPEC+ agreed on Wednesday to stick to moderate rises of 400,000 bpd oil output despite pressure from top consumers to raise output more quickly.
Oil prices take a breather, OPEC+ sticks to output plans
LONDON (Reuters) – Oil prices fell on Thursday amid profit-taking, but remained underpinned by tight...
LONDON (Reuters) – Oil prices fell on Thursday amid profit-taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases.
Brent crude was down 73 cents, or 0.8%, to $88.74 a barrel at 1345 GMT, after rising 31 cents on Wednesday. U.S. West Texas Intermediate crude was down 84 cents, or 0.9%, at $87.42 a barrel, having gained 6 cents the previous day.
