Oil steadies after choppy trade, U.S. says export ban not ruled out
Oil prices steadied on Tuesday after choppy trade as tight supply worries offset concerns...
Oil prices steadied on Tuesday after choppy trade as tight supply worries offset concerns over a possible recession and China's COVID-19 curbs.
Prices turned negative after U.S. Energy Secretary Jennifer Granholm said President Joe Biden had not ruled out using export restrictions to ease soaring domestic fuel prices. read more
Brent crude rose 14 cents to settle at $113.56 a barrel. U.S. West Texas Intermediate (WTI) crude fell 52 cents to settle at $109.77 a barrel.
Oil has surged this year with Brent hitting $139 in March, the highest since 2008, after Russia's invasion of Ukraine exacerbated supply concerns.
16 counties in Oklahoma have gasoline prices higher than $4
Gasoline prices in Oklahoma continue a slow climb upward and as of Tuesday at least 16 of the state’s...
Gasoline prices in Oklahoma continue a slow climb upward and as of Tuesday at least 16 of the state’s 77 counties had averages better than $4 a gallon.
The highest average in the state is in Coal County where prices are $4.60 a gallon. The range of $4-plus gasoline is not just in the southeast part of Oklahoma. It stretches to the state line with Texas and to the Southwest, the Northwest and the Panhandle and into north central Oklahoma.
The new state average is $4.06 which is 5 cents more than one week ago. Oklahoma’s average one month ago was $3.78 and a year ago, motorists paid an average of $2.75.
Judge orders new BLM analysis of Colo. fracking plan
Senior Judge Marcia Krieger of the US District Court for...
Senior Judge Marcia Krieger of the US District Court for the District of Colorado has ordered the Bureau of Land Management and Forest Service to conduct a new National Environmental Policy Act analysis of a Colorado hydraulic fracturing project after ruling that the government did not adequately consider climate risk in its original assessment. The North Fork Mancos Master Development Plan seeks to drill 35 new wells on 35,000 acres on Colorado's Western Slope.
N.D. provides more time for gas pipeline proposals
The North Dakota Industrial Commission has pushed back the deadline for proposals to build a natural...
The North Dakota Industrial Commission has pushed back the deadline for proposals to build a natural gas pipeline linking the western and eastern parts of the state to Aug. 15 because no applications were submitted before the original deadline this month. In November, the North Dakota Legislature approved $150 million in federal coronavirus aid to fund the construction of a trans-state gas pipeline intended to reduce flaring, but MDU Resources subsidiary WBI Energy said regulatory uncertainty, surging costs and weak demand make such a project unfeasible.
The energy sector is set for a lower start, pressured by weakness in the broader markets. Wall St futures...
The energy sector is set for a lower start, pressured by weakness in the broader markets. Wall St futures are down in pre-market trading as a weak forecast from Snap Inc hit shares of social media companies. Snap shares fell 31% premarket, following a revenue warning on Monday, during which the company noted that the macroeconomic environment has deteriorated more than anticipated. Later Tuesday, investors will receive new commentary from Fed Chairman Jerome Powell, data on U.S. new home sales and gauges of U.S. manufacturing activity.
WTI and Brent crude oil recovered earlier losses and are flirting with the flatline as existing concerns over tight supply is slightly outweighing worries over a possible recession and China’s COVID-19 restrictions.
