US refiners are performing better than before the pandemic
US refining profit margins for diesel, gasoline and other products surged this year as economic activity...
US refining profit margins for diesel, gasoline and other products surged this year as economic activity bounced back from early pandemic lows, pushing refiners' quarterly profits and market valuations to record or near-record levels. However, planned global capacity additions, rising stockpiles and slowing economic growth will likely cause margins to decline by 30% to 50% next year, eroding profitability, Fitch Ratings predicts.
⚽️Argentina beats France on penalty kicks in wild World Cup final
LUSAIL, Qatar — Lionel Messi’s once-in-a-generation career is complete. The Argentina...
LUSAIL, Qatar — Lionel Messi’s once-in-a-generation career is complete. The Argentina superstar is finally a World Cup champion.
Messi scored two goals and then another in a shootout as Argentina beat France 4-2 on penalties after a 3-3 draw Sunday to claim a third World Cup title despite Kylian Mbappé scoring the first hat trick in a final in 56 years.
(Reuters) U.S. energy firms cut oil rigs by the most this week since September, reducing the total oil and gas count for a second week in a row as crude prices remained negative for the year. U.S. oil futures were down about 1% so far this year after soaring 55% in 2021.
The U.S. total oil and gas rig count, an early indicator of future output, fell by four to 776 in the week of Dec. 16. Despite this week’s rig decline, Baker Hughes said the total count was still up 197, or 34%, over this time last year.
U.S. oil rigsfell five to 620 this week, their lowest in six weeks, while gas rigs rose one to 154.
Oil prices finish lower as central banks stoke global growth fears
Oil futures settled lower on Friday, pressured after major central...
Oil futures settled lower on Friday, pressured after major central banks indicated interest rates will continue to rise and remain elevated next year, stoking fears of a global economic slowdown that could lead to lower energy demand.
Prices, however, ended above the session’s worst levels, as the Energy Department said it would start to repurchase oil to refill the nation’s oil reserve.
For the week, crude posted a solid gain, with support tied to optimism that China’s loosening of COVID-19 curbs will spark a rebound in demand from one of the world’s largest energy consumers.
West Texas Intermediate crude for January delivery CL00 fell $1.82, or 2.4%, to settle at $74.29 a barrel on the New York Mercantile Exchange. The U.S. benchmark logged a weekly gain of 4.6%, according to Dow Jones Market Data.
February Brent crude BRN00 the global benchmark, was down $2.17, or 2.7%, at $79.04 a barrel on ICE Futures Europe. Brent saw a weekly gain of 3.9%.
Back on Nymex, January gasoline RBF23 fell 1.6% to $2.1323 a gallon, for a weekly rise of 3.7%, while January heating oilHOF23 was off 5% at$3.1199 a gallon, ending 11.7% higher for the week.
January natural gasNGF23 fell 5.3% to $6.60 per million British thermal units, with the contract up 5.7% for the week.
