More news emerges from the flurry of executive orders. President...
More news emerges from the flurry of executive orders. President Trump signed an executive order rescinding Biden-era restrictions on oil drilling in the Arctic Ocean and Bering Sea and will further encourage oil development in Alaska. Additionally, he placed all federal DEI staff on paid leave and directed agencies to make plans to terminate them. Trump also ordered federal health agencies to stop external communications, including updating websites, posting to social media, and publishing scientific reports. An executive order tracker is available here.
President Trump ordered 1,500 additional troops to the southern border.
Oil ends at a nearly 2-week low as traders weigh Trump tariff threats, energy policy
Oil futures ended Wednesday at their lowest in almost...
Oil futures ended Wednesday at their lowest in almost two weeks, with U.S. benchmark prices notching a fourth straight session decline as investors weighed the potential impact of President Donald Trump’s energy policies and tariff threats.
West Texas Intermediate crude for March delivery fell 39 cents, or 0.5%, to settle at $75.44 a barrel on the New York Mercantile Exchange, down a fourth session in a row.
March Brent crude , the global benchmark, declined by 29 cents, or 0.4%, at $79 a barrel on ICE Futures Europe. Brent and WTI settled at their lowest since Jan. 9, according to Dow Jones Market Data.
February gasoline edged down by 1.3% to $2.06 a gallon, while February heating oil declined by 2.9% to $2.48 a gallon.
Natural gas for February delivery settled at $3.96 per million British thermal units, up 5.4% after losing 4.9% Tuesday.
IPO could push Appalachian producer to $1B+ valuation
Appalachian Basin energy producer Infinity Natural Resources is planning...
Appalachian Basin energy producer Infinity Natural Resources is planning an initial public offering of 13.25 million shares priced between $18 and $21 each, targeting a valuation of up to $1.2 billion. The company is expected to debut on the New York Stock Exchange under the ticker "INR" on Jan. 31.
S&P 500 closes just shy of record, Nasdaq gains 1.3% after Trump's AI initiative
U.S. stocks finished higher on Wednesday after a slew...
U.S. stocks finished higher on Wednesday after a slew of robust corporate earnings and President Donald Trump's new initiative on artificial intelligence pushed Wall Street closer to record territory.
The S&P 500 ended up by 37.13 points, or 0.6%, at 6,086.37, according to preliminary data from FactSet. The index hit an intraday record of 6,100.81 during the session, and finished just shy of its record close of 6,090.27 set on Dec. 6.
The Dow Jones Industrial Average rose 130.92 points, or 0.3%, to finish at 44,156.73.
The Nasdaq Composite finished up by 252.56 points, or 1.3%, at 20,009.34.
All three major stock averages scored their third straight day of gains, according to Dow Jones Market Data.
WaterBridge to Build Delaware Basin Produced Water Network for BPX
Midstream water management firm WaterBridge and E&P BPX Energy entered...
Midstream water management firm WaterBridge and E&P BPX Energy entered a long-term agreement for a Delaware Basin development of new produced water capacity, WaterBridge said Jan. 21.
In the basin’s Stateline region, WaterBridge will build and operate a network capable of handling 400,000 bbl/d of produced water over the next three years, with the potential to increase capacity to 600,000 bbl/d afterward. BPX is BP’s U.S. onshore oil and gas business.
Houston-based WaterBridge has an affiliate relationship with LandBridge Co., which owns more than 273,000 surface acres in the Delaware Basin. LandBridge plans to build a gathering and transport system over the acreage for transport to BPX’s developments in Reeves County, Texas.
