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Benchmark U.S. crude oil for May delivery rose 9 cents to $80.70 a barrel Thursday. Brent crude for June delivery rose 13 cents to $85.12 a barrel.
Wholesale gasoline for May delivery fell 1 cent to $2.81 a gallon. May heating oil fell 7 cents to $2.66 a gallon. May natural gas fell 14 cents to $2.01 per 1,000 cubic feet.
The energy sector is off to a mixed to higher start, supported by mild strength in the crude complex while the major equity futures trade near the flatline. Futures tracking the benchmark S&P 500 index extended declines as stronger-than-expected weekly jobless claims data deepened fears of a recession due to a rapid rise in interest rates.
WTI and Brent crude oil futures edged higher and remain on track for a weekly gain as further production cuts targeted by OPEC+ and a drop in U.S. oil inventories overshadowed fears over global economic growth. The U.S. services sector slowed more than expected in March while U.S. job openings in February dropped to their lowest in nearly two years, putting a cap on gains.
Natural gas futures are down in early trading, pressured by forecasts for milder weather and lower heating demand over the next two weeks than previously expected.
By Michael Kern for Oilprice.com | TotalEnergies, along with its partners QatarEnergy and the national...
Source: EIA | Between 2020 and 2024, total crude oil and lease condensate production...
Canadian midstream operator Enbridge has approved final investment decisions on two new gas transmission...
Ian M. Stevenson | EENews.net | Falling royalty rates for oil and gas production...
By Felicity Bradstock for Oilprice.com | Following the massive growth in global renewable energy...
Targa Resources Corp. has launched a non-binding open season for its proposed Forza Pipeline...
Diversified Energy Company Plc has announced a $550 million acquisition of Canvas Energy, a...
Reporting by Gavin Maguire | (Reuters) – U.S. power developers are planning to sharply...
Authored by Jill McLaughlin via The Epoch Times, | California regulators fearing a dramatic...
The U.S. oil and gas industry is entering a period of retrenchment, marked by...
Data centers across the United States are increasingly grappling with one of the most...
[energyintel.com] A data center boom in the US is straining the grid and pushing...
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