Greenhouse gas emissions in the Permian Basin have decreased by nearly...
Greenhouse gas emissions in the Permian Basin have decreased by nearly 20% since 2022 even as oil and natural gas production has increased, according to an analysis by S&P Global Commodity Insights. The decline is attributed to improved methane management, advanced monitoring systems, equipment upgrades and artificial intelligence integration. "In recent years, more barrels are being produced with fewer emissions -- something we hadn't seen before in the basin," says Kevin Birn, head of the Center for Emissions Excellence at S&P.
Now two weeks old, the government shutdown could begin to take a substantial...
Now two weeks old, the government shutdown could begin to take a substantial bite out of the US economy this week as more furloughed federal employees miss their paychecks due on Wednesday. The shutdown has already led to flight delays, national park closures, and IRS phone lines going down. And as more employees don’t see a paycheck (and more get laid off), it could dent consumer spending, which drives the bulk of economic growth. Neither Democrats nor Republicans seem to be in a rush to resolve this.
Earnings season kicks off. It’s the most wonderful...
Earnings season kicks off. It’s the most wonderful time of the year. No, not the winter holidays, but Q3 earnings season, which starts this week. A slew of big companies will get the festivities going, including JPMorgan, Goldman Sachs, Bank of America, Domino’s, Johnson & Johnson, and Taiwan Semiconductor. Last quarter’s earnings were some of the best in history, with strong corporate profits underpinning the summer’s stock market rally.
Doug Lebda, the founder and CEO of LendingTree, died in an ATV accident on his family farm in North Carolina, the company said.
The Nobel prize in Economics was awarded to three researchers for their work explaining how innovation and “creative destruction” drive economic growth.
Paramount is said to be considering taking an offer directly to shareholders after Warner Bros. Discovery rebuffed its initial takeover attempt, the Wall Street Journal reported.
California became the latest US state to mandate that social media companies show health warning labels to users under 18.
JPMorgan announced a 10-year plan to invest $10 billion in four areas it deems essential to national security: defense and aerospace, “frontier” tech like AI and quantum computing, energy, and supply chain.
Taylor Swift announced a six-episode docuseries on her Eras Tour is coming to Disney+ in December.
U.S. oil futures backwardation narrows to 20-month low on mounting fears of a glut
(Reuters) - Front-month U.S. crude oil futures ended...
(Reuters) - Front-month U.S. crude oil futures ended Monday's trading at their smallest premium since January 2024 over the seventh-month contract, as OPEC+ ramps up supply while seasonal refinery maintenance in the U.S. pressures demand for prompt barrels.
Narrowing backwardation —the market term for immediate deliveries fetching a premium over later deliveries —suggests investors are making less money selling oil in the spot market because near-term supply is perceived as ample.
A reversal of the spread from a premium to a discount would put U.S. oil futures in a contango for the first time since last January.
WTI crude futures for November delivery settled at $59.49 per barrel on Monday, while the May 2026 contract settled at $59.02 per barrel, creating a 47-cent premium for prompt barrels, the narrowest since January 16 last year.
"This narrowing is indicative of excess supplies in the near term, and then concerns that when demand increases in the future, supplies will get tighter again," said Andrew Lipow, president of consultancy Lipow Oil Associates.
"We are seeing increased supply from OPEC+, which, combined with reports of more oil in floating storage, is putting pressure on the front end of the curve, as well as seasonal refinery maintenance in the U.S.," Lipow added.
U.S. stocks end sharply higher in rebound from Friday selloff
U.S. stocks ended sharply higher on Monday, rebounding...
U.S. stocks ended sharply higher on Monday, rebounding from Friday's selloff, after President Donald Trump softened his rhetoric around trade tensions with China.
The Dow Jones Industrial Average went up 587.98 points or 1.3% to end at 46,067.58, snapping a five-day losing streak, according to the Dow Jones Market Data. The index posted its largest one-day point and percentage gain since Sept. 11.
The S&P 500 rose 102.21 points or 1.6% to finish at 6,654.72. It was the index’s largest point and percentage gain since May 27.
The Nasdaq Composite climbed 490.18 points or 2.2% to close at 22,694.61. It was the index’s largest one-day point gain since May 12 and its largest one-day percentage gain since May 27.
Both the S&P 500 and the Nasdaq Composite snapped back-to-back losses.
