OklahomaMinerals.com

Snippets

• EIA Reports Below Average Storage Report
  The U.S. Energy Information...
  The U.S. Energy Information Administration reported on Thursday that U.S. natural gas supplies in storage rose by 18 billion cubic feet for the week ended Aug. 18. That was below the average increase of 29 billion cubic feet forecast by analysts surveyed by S&P Global Commodity Insights. Total working gas in storage for the week was at 3.083 trillion cubic feet, up 513 billion cubic feet from a year ago and 268 billion cubic feet above the five-year average, the government said. September natural gas rose 2 cents for the day to $2.52 per 1,000 cubic feet.
  Read More
• Closing Oil & Gas Prices for Thursday
  Benchmark U.S. crude oil for October delivery...
  Benchmark U.S. crude oil for October delivery rose 16 cents to $79.05 a barrel Thursday. Brent crude for October delivery rose 15 cents to $83.36 a barrel.
  
  Wholesale gasoline for September delivery rose 1 cent to $2.78 a gallon. September heating oil rose 3 cents to $3.16 a gallon. September natural gas rose 2 cents to $2.52 per 1,000 cubic feet.
  
  
  Read More
• Dow sheds 300 points as stocks see biggest drop in 3 weeks
  U.S. stocks logged their biggest drop in three weeks on Thursday...
  U.S. stocks logged their biggest drop in three weeks on Thursday with losses accelerating into the close as rising Treasury yields and a stronger U.S. dollar weighed on markets. All three major U.S. equity indexes logged their biggest declines since Aug. 2, with the Dow Jones Industrial Average DJIA falling 373.07 points, or 1.1%, to 34,099.94, according to preliminary closing data from FactSet. The S&P 500 SPX  shed 59.75 points, or 1.4%, to 4,376.28. The Nasdaq Composite COMP finished lower by 257.06 points, or 1.9%, to 13,463.97. Stocks opened higher following the latest blockbuster earnings report from chipmaker and artificial intelligence darling Nvidia Corp. NVDA Wednesday night. But early gains faded as major technology names headed lower throughout the session.
  Read More
• An onboard explosion likely brought down a jet believed to be carrying Yevgeny Prigozhin
  The U.S. and other Western officials said that...

  The U.S. and other Western officials said that preliminary intelligence reports led them to believe that an explosion on board a plane linked to the Russian mercenary leader Yevgeny V. Prigozhin likely brought down the aircraft on Wednesday, killing all the passengers aboard.

  
  

  Although there has been no official confirmation that Mr. Prigozhin was killed, President Vladimir V. Putin of Russia on Thursday, in his first comments on the crash, spoke obliquely of his death, referring to him in the past tense. “He made some serious mistakes in life, but he also achieved necessary results,” Mr. Putin said in a televised meeting.

  Read More
• Energy Sector Commentary
  Energy stocks are continuing their recent downtrend, as the rotation out of energy and back into tech,...
  Energy stocks are continuing their recent downtrend, as the rotation out of energy and back into tech, growth and the Nasdaq progresses. The latest catalyst was Nvidia earnings results released after market close yesterday that shattered analyst expectations, which is adding further fuel to this cross-market rotation. Additional drivers include oil and natural gas prices trading in the red this morning. News flow is light in energy, with the current unequivocal focus on Fed Chair Jay Powell’s speech tomorrow at Jackson Hole regarding the state of the economy and the FOMC’s interest rate policy.
  
  Oil prices trickled lower but are steadying after wider declines on Thursday caused by disappointing economic data from key economies, with investors awaiting a speech by U.S. Federal Reserve Chair Jerome Powell on Friday for clues on interest rate moves.
  
  Natural gas futures are down nearly 3%, trading at 3-week lows, ahead of weekly inventory data.
  Read More

• Prev
• Next