By Saeed Ashar and Rania El Gamal – Reuters – State oil giant Saudi Aramco’s profit plunged 73% in the second quarter...
By: Russell Karas and Dan Brusstar – OpenMarkets – The oil market has begun to adjust to the “new normal” in the...
By: Adrian Hedden – Carlsbad Current-Argus – A joint venture between a midstream water company and a major oil and gas producer...
By: Mark Jaffe – The Colorado Sun – The Colorado Oil and Gas Conservation Commission on Tuesday raised the tax it levies...
By Mella McEwen – Midland Reeporter-Telegram – What had been a significant contraction in the Texas oil and gas industry was magnified...
By: Reuters – Marathon Petroleum (MPC.N) has agreed to sell its Speedway gas stations in the United States to Japanese retail group...
By: Scott Carpenter – Forbes – U.S. shale oil and gas producer Apache APA -1.4% Corporation has turned its focus to international investments after...
The Guardian – Royal Dutch Shell has reported a deep financial loss after a record writedown on the value of its oil...
By: Art Berman – Forbes – Oil production from the Bakken oil fields of North Dakota fell to a 7-year low of...
The Street – Denbury Resources (DNR) – shares rose Wednesday, after the oil and natural gas producer unveiled a prepackaged Chapter 11 bankruptcy...
Former President Donald Trump to appeal Maine GOP primary ballot ban; secretary of state's decision accused Trump of violating the 14th Amendment for his role in the events of Jan. 6, 2021 (More)
Trump will also skip Wednesday's GOP primary debate, while only Gov. Ron DeSantis (FL) and former Gov. Nikki Haley (SC) will participate.
Israel kills top Hamas official in Beirut. Saleh al-Arouri, Hamas’s deputy political leader and a co-founder of its military wing, was killed in a suspected Israeli drone strike in Lebanon’s capital yesterday, Hamas confirmed. Israel has pledged to take out the Hamas leaders responsible for the Oct. 7 attack wherever they reside, and the assassination of al-Arouri (who was placed under a $5 million bounty from the US in 2015) was the first targeted strike against a Hamas official outside of Palestinian territories since the war broke out, per the Financial Times. Al-Arouri’s killing could intensify military activity along the Israel–Lebanon border, where the Israel Defense Forces and the militant group Hezbollah have been trading fire.
Two planes collided at Tokyo’s airport. A passenger plane hit a Japanese Coast Guard plane and burst into flames while landing at Tokyo’s Haneda Airport yesterday. All 367 passengers and 12 crew members were safely evacuated from the fiery Japan Airlines plane, but five crew members died on the Coast Guard aircraft, which was scheduled to deliver supplies to the area affected by a recent earthquake. Aviation accidents are rare, but the New York Times recently found that this type of collision, known as a runway incursion, is often only narrowly averted. The newspaper reviewed FAA data that showed such near misses increased by almost 25% in the last decade, although since 2018, the rate has been improving.
X’s value has plunged 71.5% since Elon Musk bought it, Fidelity says. It’s a good thing that Musk still owns several other successful companies, because Fidelity believes that the social media platform is worth a lot less than when the billionaire bought it for $44 billion in October 2022, Axios reports. That includes a decision by Fidelity, which owns a stake in X, to cut its estimate of X’s value by 10.7% in November after Musk publicly suggested that advertisers fleeing the platform over concerns about antisemitic postings “go f**k” themselves. The investment firm’s most recent valuation would put X’s value at ~$12.5 billion.
U.S. stocks started the year on a weak note as a sharp drop in Apple(AAPL) stock weighed on the technology sector and investors booked profits following an unexpectedly strong 2023. The S&P 500® index (SPX) closed at its lowest level in nearly two weeks.
Apple tumbled 3.6% to its lowest close since mid-November after Barclays downgraded the stock from "equal weight" to "underweight," citing "lackluster" iPhone 15 sales. Weakness in Apple and a slump in semiconductor shares helped send the Nasdaq Composite® (COMP) to a three-week low.
Nathan Peterson, director of derivatives analysis at the Schwab Center for Financial Research, said Tuesday's declines broadly reflected a combination of profit-taking and investor "rotation" into last year's underperforming sectors, specifically energy, health care, and utilities. Considering the S&P 500's 24% gain in 2023, a soft start to the new year wasn't necessarily a surprise.
Here's where the major benchmarks ended:
Benchmark U.S. crude oil for February delivery fell $1.27 to $70.38 per barrel Tuesday. Brent crude for March delivery fell $1.15 to $75.89 per barrel.
Wholesale gasoline for February delivery fell 2 cents to $2.09 a gallon. February heating oil was unchanged at $2.53 a gallon. February natural gas rose 6 cents to $2.57 per 1,000 cubic feet.
Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
Bill Armstrong isn’t following the industry playbook. As U.S. shale producers consolidate and shrink...
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
Trying to catch up in oil and gas production is difficult enough. It becomes...
Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
Author Mark Davidson, Washington|Editor–Everett Wheeler|Energy Intelligence Group| The number of active US gas rigs...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
Fossil fuel financing by Wall Street’s leading banks has declined sharply in 2025, highlighting...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
Mexico’s energy story has turned again. After years of political resistance to hydraulic fracturing,...
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