Natural gas futures are off 3.6% to $5.22, U.S. natural gas futures fell to a three-week low as output...
Natural gas futures are off 3.6% to $5.22, U.S. natural gas futures fell to a three-week low as output slowly rises and on forecasts for the weather to remain milder than normal through early November. The decline came despite a slow but steady increase in U.S. liquefied natural gas (LNG) exports. Global gas prices were up 17% on Monday as utilities in Europe and Asia scrambled to fill inventories before the winter heating season.
Energy stocks are poised for a mixed to higher start, backed by strength in the crude complex while the...
Energy stocks are poised for a mixed to higher start, backed by strength in the crude complex while the broader index futures ticked lower ahead of a big week for corporate earnings and as China reported disappointing GDP data overnight.
Oil futures are higher to start the week as energy prices continued to climb globally. WTI and Brent futures rose last week with Brent notching its eighth-consecutive week of gains, which is its longest streak since 1999. Shortages in coal, electricity and natural gas have also led to additional demands for crude while OPEC+ has not increased production. The WTI November contract expires Wednesday.
Oil prices climb as COVID recovery, power generators stoke demand
Oil prices hit multi-year highs on Monday buoyed by recovering demand and high natural...
Oil prices hit multi-year highs on Monday buoyed by recovering demand and high natural gas and coal prices encouraging users to switch to fuel oil and diesel for power generation.
Brent crude oil futures were up 81 cents, or 1%, to $85.67 a barrel by 1220 GMT, after hitting $86.04, their highest level since October 2018.
U.S. West Texas Intermediate (WTI) crude futures climbed $1.23, or 1.5%, to $83.51 a barrel, after hitting $83.73, their highest since October 2014.
U.S. drillers add oil and gas rigs for sixth week in a row
U.S. energy firms this week added oil and natural gas rigs for a sixth week in a row...
U.S. energy firms this week added oil and natural gas rigs for a sixth week in a row as oil prices soared to their highest since 2014, prompting drillers to return to the wellpad.
The oil and gas rig count, an early indicator of future output, rose 10 to 543 in the week to Oct. 15, its highest since April 2020. That puts the total rig count up 261 rigs, or 93%, over this time last year.
U.S. oil rigs rose 12 to 445 this week, their highest since April 2020, while gas rigs fell 1 to 98, their lowest since August. The increase in oil rigs was the biggest weekly build since April 2021.
Diamondback’s Rattler Midstream Acquires $104 Million Stake in Midland Basin JV
Diamondback Energy Inc. acquired a stake in a strategic Midland Basin...
Diamondback Energy Inc. acquired a stake in a strategic Midland Basin gas gathering and processing joint venture (JV) through its midstream affiliate, Rattler Midstream LP, the major Permian shale producer said in a recent release.
“This deal highlights the strategic relationship between Diamondback and Rattler as this is the sixth significant joint venture with Diamondback as a major customer in which Rattler has participated,” Diamondback CEO Travis Stice commented in the company release on Oct. 12.
According to the release, Rattler completed the acquisition of a majority interest in a Midland Basin gas gathering and processing company from West Texas Gas Inc. and its affiliates through a JV with a private affiliate of an investment fund.
