Oil Falls as Trade War Fallout Concerns Outweigh Iran Sanctions
Oil edged lower as concerns that trade war between the US and China would hurt global growth outweighed...
Oil edged lower as concerns that trade war between the US and China would hurt global growth outweighed the announcement of reinforced sanctions on Iran.
West Texas Intermediate crude for March delivery fell 46 cents, or 0.6%, to settle at $72.70 a barrel on the New York Mercantile Exchange, after climbing 0.9% Monday.
April Brent crude the global benchmark, climbed 24 cents, or 0.3%, to $76.20 a barrel on ICE Futures Europe.
March gasoline shed 0.9% to $2.10 a gallon, while March heating oil lost 1.4% to $2.43 a gallon.
Natural gas for March delivery settled at $3.25 per million British thermal units, down 3%, after climbing 10.1% Monday.
U.S. job openings are near a four-year low. Finding work has gotten harder.
The numbers: It’s gotten harder for the unemployed...
The numbers: It’s gotten harder for the unemployed to find work: Job openings in the U.S. fell at the end of 2024 to the second lowest level since the end of the pandemic.
In December, job openings in the U.S. decreased to 7.6 million from 8.2 million in November, marking a significant drop from the 2022 peak of 12.2 million. This decline reflects a broader trend over the past two years where openings have decreased sporadically by over a third. Additionally, the labor market is showing signs of cooling as it now takes longer for people to find jobs after losing them, with unemployment benefits claims reaching their highest levels since 2018, excluding the pandemic years. There has also been a notable increase in the number of people unemployed for over six months. The recent job openings data suggests that the labor market may not be as robust as suggested by the job growth reported in November and December. Further insights are expected with the January employment report, which will also include revisions to last year’s job estimates, amidst speculations by some economists that these gains have been overstated.
BLM Seeks Initial Input for September 2025 Oil and Gas Lease Sale in Wyoming
The Bureau of Land Management’s Wyoming State Office has opened a 30-day...
The Bureau of Land Management’s Wyoming State Office has opened a 30-day public scoping period to receive public input on 38 oil and gas parcels totaling 46,118 acres that may be included in a September 2025 lease sale in Wyoming. The comment period ends March 3, 2025.
Leasing is the first step in the process to develop Federal oil and gas resources. Before development operations can begin, an operator must submit an application for a permit to drill detailing development plans. The BLM reviews applications for permits to drill, posts them for public review, conducts an environmental analysis and coordinates with state partners and stakeholders.
EIA: Drops in Texas, N.M. lower US oil production in Nov.
The Energy Information Administration has reported a 122,000-barrel-per-day...
The Energy Information Administration has reported a 122,000-barrel-per-day drop in US crude oil production in November, to 13.31 million bpd from a record 13.44 million bpd in October, as declines in Texas and New Mexico surpassed a 3.5% increase in North Dakota. In contrast, gross natural gas output climbed by roughly 0.2% to 115.8 Bcf/d.
Molten salt reactor could advance produced water reuse
A partnership between Abilene Christian University, Texas Tech and advanced...
A partnership between Abilene Christian University, Texas Tech and advanced nuclear developer Natura Resources seeks to use Natura's molten salt reactor under construction at ACU for carbon-free energy production and thermal desalination of produced water. Building on a feasibility study with the Texas Produced Water Consortium, the team will integrate the molten salt technology with water desalination and energy production systems once the reactor comes online in 2026 or 2027. "There are great opportunities for beneficial uses of treated produced water in Texas such as rangeland restoration, crop irrigation and streamflow augmentation, among others, especially in the Permian Basin," said consortium Director Shane Walker.
