Benchmark U.S. crude oil for March delivery fell...
Benchmark U.S. crudeoil for March delivery fell $1.33 to $79.68 a barrel Friday. Brent crudefor March delivery fell 81 cents to $86.66 a barrel.
Wholesale gasoline for February delivery fell 2 cents to $2.59 a gallon. February heating oilfell 13 cents $3.27 a gallon. February natural gas rose 17 cents to $3.11 per 1,000 cubic feet.
Dow, S&P 500 squander most of their gains at Friday's close but not the Nasdaq
U.S. stocks finished higher Friday, with the technology-heavy Nasdaq Composite leading the way up, as...
U.S. stocks finished higher Friday, with the technology-heavy Nasdaq Composite leading the way up, as investors assessed fresh data on inflation and the economy as well as companies’ fourth-quarter earnings reports. The Nasdaq booked a fourth straight week of gains, its longest weekly win streak since August.
The Dow Jones Industrial Average DJIA, +0.08% rose 28.67 points, or 0.1%, to close at 33,978.08, booking six straight days of gains in its longest winning streak since late October.
The S&P 500 SPX, +0.25% gained 10.13 points, or 0.2%, to finish at 4,070.56 in back-to-back gains.
The Nasdaq Composite COMP, +7.26% advanced 109.30 points, or 0.9%, to end at 11,621.71, also booking back-to-back daily gains.
For the week, the Dow rose 1.8%, while the S&P 500 gained 2.5% and the tech-heavy Nasdaq jumped 4.3%.
The Energy Information Administration (EIA) on Thursday reported a lighter-than-average 91 Bcf withdrawal...
The Energy Information Administration (EIA) on Thursday reported a lighter-than-average 91 Bcf withdrawal from U.S. natural gas storage facilities during the week ended Jan. 20. The print surpassed market expectations but still saw the year-on-five-year average surplus grow to 128 Bcf, or plus-4.9%.
Total Lower 48 working gas in underground storage stood at 2,729 Bcf as of Jan. 20, according to EIA.
Next 5 years to bring massive US LNG expansion, BNEF says
The liquefied natural gas export capacity of the US is expected to increase more than twofold to 186.2...
The liquefied natural gas export capacity of the US is expected to increase more than twofold to 186.2 million short tons per year by 2027, surpassing Qatar's, with five projects on track for a final investment decision this year, according to BloombergNEF. US projects accounted for 89% of LNG contracting activity in 2022, as flexible contract terms, transparent pricing and supply reliability give US developers a competitive edge.
Alaska expects Cook Inlet production downtrend to persist
The Alaska Division of Oil and Gas has predicted that state oil production will average 501,000 barrels...
The Alaska Division of Oil and Gas has predicted that state oil production will average 501,000 barrels per day over the next five years, with the North Slope accounting for around 492,000 bpd of the total. However, oil production in the Cook Inlet, a critical feedstock for state refineries, is expected to trend lower in the next decade, having fallen from a 2016 peak of 16,585 bpd to average 9,406 bpd in the last fiscal year.
