U.S. drillers add oil and gas rigs for first time in three weeks
(Reuters) - U.S. energy firms this week...
(Reuters) - U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes Co said in its closely followed report on Friday.
The total oil and gas rig count, an early indicator of future output, rose three to 775 in the week to Jan. 13. That puts the total rig count up 174, or 29%, over this time last year.
U.S. oil rigs rose five to 623 this week, in their biggest build since November, while gas rigsfell two to 150, their lowest since May.
U.S. oil futures were down about 1% so far this year after gaining about 7% in 2022.
After a Reuters report claiming that the much-anticipated restart of the Freeport LNG liquefaction facility...
After a Reuters report claiming that the much-anticipated restart of the Freeport LNG liquefaction facility in Texas would be delayed into February due to the lack of regulatory approvals, the company reiterated its objective to relaunch the plant in the second half of January.
With Europe's desire to replace Russian pipeline gas making it the premium market for liquefied natural...
With Europe's desire to replace Russian pipeline gas making it the premium market for liquefied natural gas around the world, global volumes of LNG imports have increased by 7% year-on-year to 409 million tons, the highest on record.
Having participated in the purchase of the Italian ISAB refinery, global trading house Trafigura ...
Having participated in the purchase of the Italian ISAB refinery, global trading house Trafigura sold its 24.5% stake in India’s second-largest refinery Nayara to a relatively unknown Italian investment firm called Mareterra Group.
U.S. stocks end higher Friday, notching best weekly gains in 2 months
U.S. stocks booked modest gains Friday, while advancing for a...
U.S. stocks booked modest gains Friday, while advancing for a second week in a row to kick off 2023. The Dow Jones Industrial Average DJIA, 0.33% gained about 112 points, or 0.3%, ending near 34,302, while the S&P 500 index SPX, +0.40% rose 0.4%, according to preliminary FactSet levels. The rate-sensitive Nasdaq Composite Index COMP, 0.71% gained 0.7% Friday, while outperforming the week with a 4.8% gain. The Dow rose 2% for the week and the S&P 500 climbed 2.7%, the best week of gains on a percentage basis in two months, according to Dow Jones Market Data. The rally in stocks has been bolstered by inflation data that continued its retreat. The consumer-price index for December was pegged at a 6.5% annual rate, down from a 9.1% peak last summer. Investors on Friday heard from big banks JPMorgan Chase & Co. JPM, +2.47% and Bank of America BAC, +2.15% as they kicked off fourth-quarter earnings. Treasury Secretary Janet Yellen also warned top U.S. lawmakers that the government is expected to hit its ceiling for borrowing next week, while urging them to suspend or increase the debt limit.
