Drilling can take place again in polluted Pa. village
The Pennsylvania Department of Environmental Protection ended its moratorium on natural gas drilling...
The Pennsylvania Department of Environmental Protection ended its moratorium on natural gas drilling in the village of Dimock as part of an agreement with producer Coterra Energy, which last month pleaded no contest in a criminal water pollution case stemming from accusations that its wells leaked flammable methane into Dimock's aquifer. The move angered residents, who fear new drilling will bring about more leaks and problems.
The Energy Information Administration on Monday reported that the US inventory of drilled-but-uncompleted...
The Energy Information Administration on Monday reported that the US inventory of drilled-but-uncompleted oil and natural gas wells climbed by 22, month over month to 4,443 in November. It was the second consecutive monthly increase in the DUC well count after 27 months of declines.
Pharmaceutical company Amgen Inc. agreed to buy rare disease drug manufacturer Horizon Therapeutics yesterday for close to $28B in cash at $116.50 a share, the largest US healthcare acquisition this year. The deal is expected to be complete by mid-2023.
Amgen beat out both Johnson & Johnson and Sanofi in a monthlong bidding competition for the fast-growing drug producer. It is Amgen's second acquisition since October when it purchased ChemoCentryx for $3.7B
CPI shows U.S. core consumer inflation in November was coolest since August 2021
The numbers: The cost of living rose a scant 0.1% in November, the latest in a string...
The numbers: The cost of living rose a scant 0.1% in November, the latest in a string of mild readings that suggest the worst U.S. inflation in 40 years is receding.
Economists polled by The Wall Street Journal had forecast a 0.3% increase in the consumer price index. Falling gas prices have helped tug inflation lower since last summer.
The annual rate of inflation, meanwhile, fell to 7.1 % from 7.7% in the prior month, marking the lowest level since the end of 2021. Inflation peaked at 9.1% in June.
The energy sector is off to a higher start, supported by strength in the...
The energy sector is off to a higher start, supported by strength in the major market futures and the underlying commodities. U.S. stocks are expected to open sharply higher following the release of the CPI data which reflected a smaller-than-expected rise in U.S. consumer prices. This has increased expectations the Federal Reserve will be moderate in its future interest rate hikes.
WTI and Brentare trading higher as supply disruptions outweighed declining optimism over a Chinese oil demand recovery. The oil market continues to see some support following the closure of the Keystone pipeline which closed down after a leak last week. However, oil futures pared earlier gains after the Chinese leader delayed a key economic policy meeting, amid surging COVID-19 infections. Additionally, export volumes from Russia's Baltic and Black Sea ports are set to decline this month.
Natural gas futuresare up this morning on forecasts for colder temperatures and higher heating demand in the next two weeks.
