Crude oil surpasses $90 a barrel for first time since 2014, driving average gas prices up
In just one month, “WTI is up nearly 20% for the year, building on 2021′s more than 50% gain. As...
In just one month, “WTI is up nearly 20% for the year, building on 2021′s more than 50% gain. As oil prices push higher, a number of Wall Street analysts have forecasted $100 oil,” CNBC reported.
The national average for a gallon of regular gasoline also increased by five cents last week to $3.41, and prices are only expected to go up.
Ten states that saw the most recent and largest increases in their average gas prices, AAA reports, are Michigan (+14 cents), Wisconsin (+13 cents), Florida (+12 cents), Kentucky (+12 cents), Ohio (+11 cents), Indiana (+10 cents), Minnesota (+10 cents), Illinois (+8 cents), South Carolina (+8 cents) and Oklahoma (+8 cents).
Texas continues to have the lowest average gas price of $3.01, although in some areas in the Houston-Gulf region, regular gasoline is under $3 a gallon.
France Braces For Blackouts As Gas Stockpiles Dwindle
French natural gas pipeline operator GRTgaz warned that French gas stockpiles are much lower at this...
French natural gas pipeline operator GRTgaz warned that French gas stockpiles are much lower at this point in the year than they have been during years past - and as a result, they run the risk of potentially being depleted before the winter is up, a disaster that could make last year's deep freeze in Texas look tame if a sudden cold snap sends demand soaring.
According to data from Gas Infrastructure Europe, France’s stockpiles were about 34% full as of Feb. 1, which is well below the five-year average of 42%. Inventories are now at the lowest seasonal level since 2018, when a brutal winter cold snap nicknamed "the Beast from the East" left French reserves standing at just 3% when the heating season was over.
OK Treasurer reports 2022 gross receipts are rising
Gross Receipts to the Treasury show Oklahoma’s economy is doing very well...
Gross Receipts to the Treasury show Oklahoma’s economy is doing very well at the start of the new year, State Treasurer Randy McDaniel announced.
January gross receipts of $1.5 billion are up by more than 27 percent compared to the same month of last year. Twelve-month receipts of $15.5 billion measure growth of more than 18 percent compared to the prior period.
The state’s oil and gas industry played a large role in boosting the amount of money as gross production taxes increased 149.5%. The total in collections increased $86 million to reach $143.5million according to the Treasurer’s office.
The Baker Hughes rig count report on Friday showed an increase of 3 to a total of 613 rigs running in...
The Baker Hughes rig count report on Friday showed an increase of 3 to a total of 613 rigs running in the U.S. while the number in Oklahoma dropped by one to 50 rigs.
Nationally, the count included two more oil rigs for a total of 497 nationwide while the number of gas rigs increased by one to 116. This past week’s count is 221 more than the 392 rigs reported a year ago. The increased numbers include 198 more oil rigs and 24 more gas rigs.
Texas remains highest with 287 rigs, an increase of 3 in the past week. New Mexico’s count slipped two to 92 while the number in North Dakota grew by 3 for a total of 30 active rigs.
Oil prices surged to seven-year highs on Friday, extending their rally into a seventh...
Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers.
Brent crude rose $2.16, or 2.4%, to settle at $93.27 a barrel having earlier touched its highest since October 2014 at $93.70.
U.S. West Texas Intermediate crude ended $2.04, or 2.3%, higher at $92.31 a barrel after trading as high as $93.17, its highest since September 2014.
