U.S. oil futures ended Thursday’s session with a modest gain, up a second day in a row, finding support from U.S. government data released Wednesday showing an unexpected weekly decline in crude inventories. The "hot inflation report sent the dollar higher, which tentatively dragged down commodities," including oil prices, said Edward Moya, senior market analyst at OANDA. However, oil market fundamentals "remain very tight and with no immediate changes to that outlook, crude prices seem poised to go higher," he said. West Texas Intermediate crude for March delivery CLH22, +0.43% rose 22 cents, or nearly 0.3%, to settle at $89.88 a barrel on the New York Mercantile Exchange after trading as high as $91.74.
EIA reports a weekly fall in U.S. natural-gas supplies close to market expectations
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas...
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies fell by 222 billion cubic feet for the week ended Feb. 4. That compared with the average decline of 221 billion cubic feet forecast by analysts polled by S&P Global Platts, which pegged the five-year average supply fall for the period at 150 billion cubic feet.
Following the data, March natural gas NGH22, -1.67% declined by 11.7 cents, or 2.9%, at $3.892 per million British thermal units.
Major producer thinks pipeline may not go online until 2023
Executives from EQT Corp., a major customer of the Mountain Valley Pipeline, told Wall Street analysts...
Executives from EQT Corp., a major customer of the Mountain Valley Pipeline, told Wall Street analysts that they aren't expecting it to go into service until the middle of 2023. "We had to pick a spot where we thought MVP was going to come online, and we did that as a placeholder before ETRN puts out their update in about a week," said EQT CFO David Khani.
The Labor Department on Thursday said the consumer-price index—which measures what consumers pay for goods and services—was last month at its highest level since February 1982, when compared with January a year ago, and higher than December’s 7% annual rate. Inflation has been above 5% for the past eight months.
Continental Resources announced that its Board of Directors has declared a quarterly...
Continental Resources announced that its Board of Directors has declared a quarterly dividend of $0.23 per share on the Company's outstanding common stock, payable on March 4, 2022, to stockholders of record on February 22, 2022.
EQT announced financial performance results for the fourth-quarter 2021. Net income attributable to EQT for the fourth quarter of 2021 was $1,801 million, $4.69 per diluted share, compared to net income attributable to EQT Corporation for the fourth quarter of 2020 of $64 million, $0.23 per diluted share.
Range Resources announced that fourth-quarter 2021 production averaged approximately 2,198 Mmcfe per day, and fourth-quarter 2021 all-in capital spending totaled $92.3 million. In addition, Range realized $29.5 million in contingent derivative settlement gains in the fourth-quarter 2021.
