Adrian Hedden – Carlsbad Current Argus – Oil and gas in the Permian Basin could be headed for recovery as prices rebuild...
Bloomberg – Chesapeake Energy is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the...
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Reuters – U.S. shale oil producers are reversing production cuts as prices recover from historic lows, underscoring shale’s ability to quickly adjust...
Forbes – Oil is back. The collapse in the global oil price at the start of the Coronavirus crisis got many headlines,...
Bloomberg – While OPEC has helped global oil markets recover from the coronavirus crisis, the cartel will soon face a new challenge:...
Forbes – As our energy-environment discussion marches on amid the pandemic, one of our biggest concerns must be that temporary fallen demand...
The Oklahoman – Unit Corp. files BK. – The energy pricing shock caused by an economic shutdown because of the COVID-19 pandemic...
Bloomberg – Oil prices have surged more than 75% in the U.S. this month. But don’t expect a quick rebound in supply from shale...
The Oklahoman – Oklahoma is a state that has learned how to live through boom and bust. While we are constantly working...
Energy stocks opened just above breakeven levels, tracking higher broader market futures, which erased premarket losses and shifted into the green following tame January PCE data. Inflation rose 0.4% in January, which was in-line with expectations, and +2.8% from a year ago. While still positive, markets were primed for weakness if the inflation figures rose anywhere above market expectations. Risk sentiment should be positive today. Meanwhile, earnings continue to wrap up across the energy sector.
Oil prices were mixed, with WTI slightly positive and Brent around the flatline following the in-line PCE report. Brent has hovered comfortably above the $80 mark for three weeks, with the Middle East conflict having only a modest impact on crude flows. A Reuters survey of 40 economists and analysts on Thursday forecast an average price of $81.13 a barrel for the front-month contract this year.
Natural gas futures are down about 3 cents ahead of weekly inventory, in which analysts expect a draw of 88 bcf.
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