OklahomaMinerals.com

Snippets

• Oil set for another weekly gain on tight supply and China optimism
  LONDON (Reuters) -Oil was on track for a third weekly gain as supply tightness spearheaded by Saudi Arabian...
  LONDON (Reuters) -Oil was on track for a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts combines with optimism that the Chinese economy is finally turning a corner.
  
  Brent crude futures gained 8 cents to $93.78 a barrel while West Texas Intermediate (WTI) was up 14 cents at $90.3.
  
  Brent hit a 10-month high of $94.63 earlier in the session and has seen its biggest quarterly increase since Russia's invasion of Ukraine. Both benchmarks were up about 4% on the week.
  Read More
• EIA reports a weekly rise of 57 billion cubic feet in U.S. natural-gas supply
  The U.S. Energy Information...
  The U.S. Energy Information Administration reported on Thursday that U.S. natural-gas supplies in storage rose by 57 billion cubic feet for the week ended Sept. 8. On average, analysts surveyed by S&P Global Commodity Insights forecast an increase of 49 billion cubic feet. Total working gas in storage for the week was at 3.205 trillion cubic feet, up 445 billion cubic feet from a year ago and 203 billion cubic feet above the five-year average, the government said. In Thursday dealings, October natural gas NGV23, -0.22% traded at $2.762 per million British thermal units, up 8.2 cents, or 3.1%, on the New York Mercantile Exchange.
  Read More
• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for October delivery...
  Benchmark U.S. crude oil for October delivery rose $1.64 to $90.16 a barrel Thursday. Brent crude for November delivery rose $1.82 to $93.70 a barrel.
  
  Wholesale gasoline for October delivery was unchanged at $2.74 a gallon. October heating oil rose 4 cents to $3.48 a gallon. October natural gas rose 3 cents to $2.71 per 1,000 cubic feet.
  
  
  Read More
• Dow posts biggest gain in 5 weeks, stocks end higher
  The Dow finished more than 300 points higher on Thursday to claim its biggest one-day gain in...
  The Dow finished more than 300 points higher on Thursday to claim its biggest one-day gain in more than five weeks as retail sales data showed a resilient consumer despite the Federal Reserve’s rate-hiking. The Dow Jones Industrial Average DJIA rose about 331 points, or 1%, ending near 34,907. That was its biggest daily percentage gain since August 7. The S&P 500 index SPX closed 0.8% higher and the Nasdaq Composite Index COMP gained 0.8%. U.S. retail sales rose for a fifth straight month in August, climbing 0.6%, despite the Federal Reserve’s policy rate sitting at a 22-year high and worries about fizzling sales after Amazon’s Prime Day sales event in July.
  Read More
• Oil prices hit 2023 highs as prospects for tighter supply grow
  LONDON (Reuters) — Oil rebounded on Thursday, with Brent crude topping $93 a barrel for the first time...
  LONDON (Reuters) — Oil rebounded on Thursday, with Brent crude topping $93 a barrel for the first time this year, as expectations of a tighter supply outlook for the rest of 2023 overshadowed concerns over weaker economic growth and rising U.S. inventories.
  
  The tightening oil balance will remain the dominant price driver for the rest of 2023, he added.
  
  Brent crude was up $1.15, or 1.3%, at $93.05 at last check Thursday, after touching $93.11 for its highest level since November 2022. US West Texas Intermediate crude (WTI) gained $1.18, or 1.3%, to $89.71, having also hit a 10-month high.
  Read More

• Prev
• Next