Dow ends below 39,000 as U.S. stocks fall after hot inflation reading
Stocks ended lower Thursday, slipping after a hotter-than-expected February...
Stocks ended lower Thursday, slipping after a hotter-than-expected February producer-price index raised doubts about the Federal Reserve's ability to deliver a series of rate cuts in 2024.
Stocks trimmed their decline ahead of the closing bell but still finished in the red. Major indexes remained on track for small, weekly gains ahead of Friday's session.
The Dow Jones Industrial Average fell 137.66 points, or 0.4%, to close at 38,905.66.
The S&P 500 shed 14.83 points, or 0.3%, to end at 5,150.48.
The Nasdaq Composite finished at 16,128.53, a decline of 49.24 points, or 0.3%.
Despite the downturn in natural gas prices and surplus storage levels,...
Despite the downturn in natural gas prices and surplus storage levels, US midstream companies have allocated more than $10 billion to upgrade and expand their gas infrastructure this year, according to East Daley Analytics. Analysts say the investments reflect the industry's confidence in long-term demand for gas infrastructure, driven by the ongoing expansion of the liquefied natural gas export market.
EIA sees higher oil output, lower gas production in 2024
US crude oil production will increase by 260,000 barrels per day to 13.19...
US crude oil production will increase by 260,000 barrels per day to 13.19 million barrels per day in 2024, while 2025 oil output will hit a record 13.65 million bpd, the Energy Information Administration predicted in its latest Short-Term Energy Outlook. Additionally, the agency revised downward its projections for natural gas production, expecting it to decrease to 103.35 Bcf/d in 2024 before rebounding to 104.43 Bcf/d in 2025.
Electric utilities in the US have aging infrastructure that poses a growing...
Electric utilities in the US have aging infrastructure that poses a growing wildfire risk as climate change drives conditions that are sparking bigger and more intense conflagrations, experts say. However, too few utilities are adopting relatively low-cost solutions, such as equipping power poles with weather sensors, to guard against the rising risk, says Michael Wara of the the Woods Institute for the Environment at Stanford University.
Subdued spot LNG prices shift balance of power to buyers
Industry experts expect...
Industry experts expect an extended phase of subdued spot liquefied natural gas prices to give buyers the upper hand this year, potentially leading to price reviews, contractual term revisions and increased spot market activity. Baker Botts partner Daniel Reinbott says "oil-linked term SPAs [sales and purchase agreements] that are subject to price review will face downward pressure and some sellers will find it difficult to resist reductions in LNG prices, whether through negotiation or dispute resolution."
