Gas prices to drop like 'wet feathers,' analyst says
Gasoline prices are slowly pulling back from ...
Gasoline prices are slowly pulling back from 2023 highs last month. But as crude continues to pull back, drivers can expect fuel costs to drop like "wet feathers,"says one oil analyst.
Gasoline futures (RB=F) are forecasting the drop, down about $0.43 in the last week. The current national average for retail gasoline is $3.77 versus $3.84 a week ago, according to AAA.
Many areas will see falling prices as winter-grade fuel, which is less expensive to produce, makes its way into the market.
September jobs data is due Friday. Economists forecast lower unemployment rate
The United States is expected to add 170,000 jobs in September, keeping the increase below 200,000 for...
The United States is expected to add 170,000 jobs in September, keeping the increase below 200,000 for the fourth month in a row. The last time that happened was in 2018.
Even those small increases, however, have been enough to soak up all the new people entering the labor market each month. Federal Reserve officials believe the economy needs no more than 75,000 to 100,000 jobs a month.
Anything more than that could exacerbate the worst labor shortage since World War II, drive wages up, and make it harder for the Fed to get inflation under control.
U.S. stocks close slightly lower as investors wait for jobs data on Friday
U.S. stocks finished slightly lower on Thursday as investors weighed a rise in ...
U.S. stocks finished slightly lower on Thursday as investors weighed a rise in initial jobless claims that was slightly smaller than expected while looking ahead to the widely-anticipated employment report on Friday. The Dow Jones Industrial AverageDJIA closed little changed, while the S&P 500SPX slipped 0.1% and the Nasdaq Composite COMP shed 0.1%, according to preliminary data from FactSet. Investors are waiting for the U.S. employment report on jobs growth in September, scheduled to be released by the government on Friday morning before the stock market opens.
Permian drilling slowdown fuels Waha gas price rally
Reduced Permian Basin natural gas production due to slowed drilling activity has helped push Waha Hub...
Reduced Permian Basin natural gas production due to slowed drilling activity has helped push Waha Hub forward gas prices above the benchmark Henry Hub, setting the stage for a stronger regional gas price environment this winter. Additionally, the upcoming startup of two brownfield gas pipeline expansions could alleviate midstream constraints and bolster prices further.
Civitas Resources grows in the Permian with $2.1B deal
Civitas Resources has entered a roughly $2.1 billion cash-and-stock...
Civitas Resources has entered a roughly $2.1 billion cash-and-stock deal to purchase 44,000 net acres in the Permian Basin's Midland portion from Vencer Energy, trader Vitol's US upstream subsidiary. The assets are expected to increase Civitas' production by an estimated 62,000 barrels of oil equivalent per day.
