Russia cuts gas supplies through its only remaining pipeline to Europe
Russia’s state gas monopoly Gazprom slightly...
Russia’s state gas monopoly Gazprom slightly reduced gas exports to Europe via the TurkStream pipeline in August, following a sharp increase in July, The Moscow Times wrote on Sept. 1.
Deliveries decreased by 2%, from 51.5 million cubic meters per day in July to 50.4 million in August.
With supplies through Yamal-Europe, Nord Stream, and — as of Jan. 1, 2025 — Ukraine’s transit system all halted, TurkStream remains Gazprom’s only operational route for delivering gas to Europe. The pipeline’s annual capacity is 15.75 billion cubic meters.
Earthquake in Afghanistan Leaves More Than 800 Dead
More than 800 people were killed and 2,500 were injured after a 6.0-magnitude...
More than 800 people were killed and 2,500 were injured after a 6.0-magnitude earthquake rocked the mountainous areas of eastern Afghanistan on Sunday night, Afghan officials said on Monday. The death toll would probably rise, they added, as rescue workers scrambled to reach communities stranded in isolated valleys hardly reachable by road.
US rig count down two as prices rise - Oklahoma No Change
The rig count in the Permian Basin was unchanged this week, the latest count Friday...
The rig count in the Permian Basin was unchanged this week, the latest count Friday by Baker Hughes shows, with 255 rigs active in the region. A year ago, 305 rigs were active in the Permian. In Oklahoma, the rig count remains unchanged at 43 rigs turning to the right.
Nationally, the oil and gas rig count is down two from last week at 536 rigs. A year ago, 583 rigs were active. The count shows that 412 rigs are drilling for oil, up one from the previous week, and 119 are drilling for natural gas, down three from the previous week. The count also shows five miscellaneous rigs, unchanged from the previous week.
The U.S. rig count peaked at 4,530 in 1981. It bottomed out in August of 2020 at 244.
The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $60.49 per barrel, up 35 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $64.01 per barrel, up 35 cents from the previous week.
Rockies oil and gas moves back into investors' spotlight
Eased federal oversight, consistent geology and accessible inventory...
Eased federal oversight, consistent geology and accessible inventory are drawing new investment into the Rocky Mountain oil and natural gas region, according to BOK Financial analysts. The Rockies may not match the Permian Basin's peak wells, but they offer scale and reliability that position the region for lasting growth. Operators are targeting both new development and the optimization of existing wells, setting the stage for sustained returns.
Travelers may pay the cheapest Labor Day gas prices in 5 years
Americans this weekend are likely to pay the lowest gas...
Americans this weekend are likely to pay the lowest gas prices at the pump on the Labor Day holiday since the pandemic, thanks in part to Wall Street bracing for a sharp slowdown in travel this fall.
While summer’s end typically coincides with a pullback in travel, this year has been complicated by foiled U.S. efforts to squash the flow of crude from Russia, contributing to the first monthly drop in oil prices since April.
Against that backdrop, GasBuddy said earlier this week that it expects gas prices on the last summer holiday weekend of this year to average $3.15 a gallon. That would be the lowest Labor Day price at the pump since 2020, it noted.
“When it comes to gas prices, it’s been the cheapest summer to hit the road since the pandemic, a trend that will likely continue with the potential for the national average to fall below $3 per gallon this fall,” said Patrick De Haan, head of petroleum analysis at GasBuddy, in a press release.
