S&P Global Platts – Multiple operators in the SCOOP/STACK look to cut capital expenditures and oil and gas production volumes in 2020...
S&P Global – With the Super Tuesday primaries set for this week, the race for the Democratic presidential nomination is shifting into...
By Chris Baltimore Argus Media – A rising shift to “neat” barrels from cocktail-like crude blends at the Louisiana infrastructure hub at...
Bloomberg – Chesapeake Energy Corp.’s options for dealing with its towering debt load are shriveling as the natural gas driller seeks to auction...
Pittsburgh Business Times – Cabot Oil and Gas Corp. CEO Dan O. Dinges on Friday questioned why other drillers are continuing to...
Chris Casteel The Oklahoman – As Democratic presidential candidates court Oklahomans for votes, some are calling for measures that would sharply curtail...
Reuters – South Korea is on track to overtake Canada as the top buyer of U.S. crude oil in 2020 as a...
Financial Times – Bankruptcy risks in the US shale sector are rising, with weak oil prices and tightening access to credit worsening...
Houston Chronicle – The oil and natural gas industry practice of burning surplus gas from oil wells, or flaring, has reached levels...
By: Jack Money – The Oklahoman – Oklahomans are about to gain access to additional groundwater that can be used for industrial,...
WTI crude oil prices remained near their November lows, trading around $68.39 per barrel Wednesday morning, as bearish market factors capped any gains during yesterday's session. In the physical market, indicators suggest a supply glut is emerging sooner than expected, while the futures market is displaying signs of oversupply. Additionally, OPEC reduced its demand growth forecasts for the fourth consecutive month, and the strong US dollar made commodities priced in the currency less attractive.
Despite some activity in the physical market supporting the Dated Brent benchmark, the overall outlook for oil remains weak. Global supply is expected to outpace demand next year, and China's latest economic measures fell short of direct stimulus while inflation remains subdued. Traders continue to monitor tensions in the Middle East, the possibility of a second Trump presidency, and OPEC+ production decisions, all of which contribute to the choppy trading environment in the mid-$60s to mid-$70s range.
U.S. stocks finished lower on Tuesday as Wall Street took a hiatus from a postelection rally that propelled the major stock indexes to all-time highs.
The Dow Jones Industrial Average lost 382.15 points, or 0.9%, to end at 43,910.98. According to Dow Jones Market Data, this was the largest one-day point decline since Oct. 23.
The S&P 500 was off 17.36 points, or 0.3%, to finish at 5,983.99. The large-cap benchmark index snapped a five-session winning streak and logged its worst day since Oct. 31.
The Nasdaq Composite ended down less than 0.1%, leaving it nearly flat at 19,281.40. It was the largest one-day point and percentage decline since Nov. 4, according to Dow Jones Market Data.
Stocks viewed as beneficiaries of Donald Trump's return to the White House struggled on Tuesday. The small-cap Russell 2000 index finished down nearly 1.8%, and shares of Tesla Inc. tumbled 6.2%.
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