MarketWatch: U.S. Crude-Oil Inventories Climb by 9.4 Million Barrels
U.S. crude-oil inventories increased much more than expected last week as refiners surprisingly...
U.S. crude-oil inventories increased much more than expected last week as refiners surprisingly hit the brakes on activity, according to data released Wednesday by the Energy Information Administration.
Crude-oil stockpiles jumped by 9.4 million barrels to 421.8 million barrels, and are now about 13% below the five-year average, the EIA said. Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would rise by just 400,000 barrels from the prior week.
Oil stored at Cushing, Okla., the delivery point for U.S. stocks, rose by 450,000 barrels from the previous week to 26.3 million barrels, the EIA said in its weekly report.
U.S. crude-oil production was unchanged from the previous week at 11.8 million barrels a day, according to the EIA.
U.S. stocks edge higher as earnings season kicks off, producer inflation runs hot
U.S. stock index futures tiptoed higher early Wednesday, shaking off premarket weakness seen after disappointing...
U.S. stock index futures tiptoed higher early Wednesday, shaking off premarket weakness seen after disappointing earnings from JPMorgan Chase & Co., as investors also weighed data showing wholesale inflation continues to run hot.
Stock-market bulls are looking for corporate earnings reports to take the focus away from the surge in inflation that has ratcheted up Federal Reserve interest rate-hike expectations and has sent Treasury yields sharply higher so far this year.
EIA—Haynesville natural gas production reached a record high in late 2021
New highs in dry natural gas production in the second half of 2021 were recorded in the Haynesville...
New highs in dry natural gas production in the second half of 2021 were recorded in the Haynesville shale play in northeastern Texas and northwestern Louisiana according to the U.S. Energy Information Administration.
The EIA said production has remained relatively strong in early 2022 and the Haynesville natural gas production accounted for nearly 13% of all U.S. dry natural gas production in February 2022.
Haynesville is the third-largest shale gas-producing play in the United States and an area where Oklahoma-based Chesapeake Energy continues to be active. ~Source: OK Energy Today
Record Permian Well Permits Point to Growing U.S. Oil Supply - Bloomberg
Drilling permits for new wells have spiked to unprecedented levels in the Permian Basin,...
Drilling permits for new wells have spiked to unprecedented levels in the Permian Basin, signaling crude oil suppliers in America are finally responding to higher prices, according to Rystad Energy.
A total of 904 horizontal drilling permits were awarded last month in the shale patch that lies beneath Texas and New Mexico, an all-time-high, Rystad said. The four-week average of 210 approved permits for the week ending April 3 was also a record.
World’s Largest Oil Trader To Completely Phase Out Russian Crude
Commodity major Vitol plans to wind down its activities involving Russian crude oil by the end of the...
Commodity major Vitol plans to wind down its activities involving Russian crude oil by the end of the year, Bloomberg has reported, citing a spokesman for the company. Trade with Russian oil "will diminish significantly in the second quarter as current term contractual obligations decline," the spokesman said, adding, "we anticipate this will be completed by end of 2022".
