Benchmark U.S. crude oil for August delivery fell 35 cents to $79.78 per barrel Monday. Brent crude for September delivery fell 23 cents to $82.40 per barrel.
Wholesale gasoline for August delivery rose 2 cents to $2.47 a gallon. August heating oil rose 2 cents to $2.43 a gallon. August natural gas rose 12 cents to $2.25 per 1,000 cubic feet.
U.S. stocks post gains after Biden's withdrawal, with Big Tech back in the lead
U.S. stocks ended higher on Monday as Wall Street digested President...
U.S. stocks ended higher on Monday as Wall Street digested President Joe Biden's withdrawal from the 2024 presidential race, while investors looked forward to earnings from Big Tech companies.
Tech stocks led the gains after a rotation out of mega-cap tech companies last week. This turned into a full-scale retreat, and the S&P 500 logged its worst weekly performance since April.
According to preliminary closing data from FactSet, the Dow Jones Industrial Average ended up 0.3%.
The S&P 500 closed 1.1% higher, snapping a three-day losing streak.
The Nasdaq Composite gained 1.6%, also snapping a three-day losing streak.
Woodside Energy to Buy LNG Developer Tellurian for $900 Million
Tellurian said on July 21 that Woodside Energy Group Ltd. has entered...
Tellurian said on July 21 that Woodside Energy Group Ltd. has entered into a definitive agreement to buy Driftwood LNG developer Tellurian Inc. for approximately $900 million.
Subsidiaries of Australian E&P Woodside Energy will acquire all the outstanding shares of Tellurian in an all-cash transaction for $1 per share.
The acquisition price represents a 75% premium to Tellurian’s closing price of $0.571 per share on July 19 and a 48% premium to Tellurian’s 30-day volume weighted average price, the company said in a press release.
ONEOK invests $480M to address Denver area fuel demand
ONEOK has announced a $480...
ONEOK has announced a $480 million investment to boost refined product flows from the Midcontinent and Gulf Coast to the Greater Denver Area. The project involves a new 230-mile pipeline from western Kansas to the Denver International Airport and pump station upgrades and additions. It is expected to be completed by mid-2026 and aims to meet the region's increasing fuel demand.
Hydraulic fracturing, traditionally used in oil and natural gas extraction,...
Hydraulic fracturing, traditionally used in oil and natural gas extraction, is being harnessed to access geothermal energy through enhanced geothermal systems that provide continuous carbon-free power from underground heat. However, challenges such as lengthy permitting processes, high drilling costs and limited underground heat availability are preventing the technology from expanding fast enough to make a difference for the climate, highlighting the importance of government funding and streamlined regulatory frameworks.
