OklahomaMinerals.com

Snippets

• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for January delivery...
  Benchmark U.S. crude oil for January delivery rose 86 cents to $69.47 per barrel Wednesday. Brent crude for February delivery rose $1.02 to $74.26 per barrel.
  
  Wholesale gasoline for January delivery rose 4 cents to $2.02 a gallon. January heating oil rose 4 cents to $2.55 a gallon. January natural gas rose 3 cents to $2.34 per 1,000 cubic feet.
  
  
  Read More
• The Federal Reserve left interest rates unchanged but signaled three cuts to borrowing costs in 2024
  Federal Reserve officials left interest rates...

  Federal Reserve officials left interest rates unchanged in their final policy decision of 2023 and forecast that they will cut borrowing costs three times in the coming year, a sign that the central bank is shifting toward the next phase in its fight against rapid inflation.

  
  

  Interest rates are now set to a range of 5.25 to 5.5 percent, where they have been since July. After making a rapid series of increases that started in March 2022 and pushed borrowing costs to their highest level in 22 years as of this summer, officials have now held policy steady for three straight meetings.

  Read More
• US EIA lowers 2024 Brent price forecast despite OPEC+ oil output cuts
  In its latest monthly report, the Energy Information Administration has revised its 2024 Brent crude...
  In its latest monthly report, the Energy Information Administration has revised its 2024 Brent crude oil price forecast downward by $10 to an average of $83 per barrel and lifted its 2023 US oil production forecast to a record 12.93 million barrels per day. Additionally, the agency expects US crude and petroleum products exports to increase from around 1.8 million bpd this year to nearly 2 million bpd next year, driven by increased crude and hydrocarbon gas liquids production.
  Read More
• Booming gas output catapults US to global LNG leadership
  The US has rapidly emerged as a global natural gas powerhouse, achieving net energy exporter status in...
  The US has rapidly emerged as a global natural gas powerhouse, achieving net energy exporter status in just three years since entering the LNG market in 2016. Fueled by strong gas production, particularly in the Marcellus, Permian, and Haynesville Shale plays, the US is expected to sustain its leading position in both liquefied natural gas and piped-gas exports, with the Energy Information Administration projecting a 152% increase in US LNG exports to 10 Tcf by 2050.
  Read More
• U.S. stocks have notched their best between-Fed-meetings performance since 2009
  The S&P 500 managed to touch a fresh intraday high for 2023 after the open on Wednesday, ...
  The S&P 500 managed to touch a fresh intraday high for 2023 after the open on Wednesday, trading as high as 4,647, according to FactSet data.
  
  As investors wait to see if Powell will swat the market lower on Wednesday after his previous attempt at pushing back against rate-cut expectations fizzled, analysts at Bespoke Investment Group pointed out in a recent factoid shared on X that the S&P 500 has gained 9.6% through Tuesday's close. That's the best inter-meeting performance since 2009.
  Read More

• Prev
• Next