Oil prices end higher after drone attack on Russian pipeline
Oil futures were lifted Tuesday, ending with gains after...
Oil futures were lifted Tuesday, ending with gains after a drone attack by Ukraine on a pipeline carrying crude from Kazakhstan across southern Russia curtailed flows.
At the same time, preliminary talks between Russia and the U.S. aimed at ending the war in Ukraine capped upside due to the potential for negotiations to result in the easing of sanctions on Russia’s energy sector.
West Texas Intermediate crude for March delivery rose $1.11, or 1.6%, to finish at $71.85 a barrel on the New York Mercantile Exchange. WTI futures didn’t close Monday due to the Presidents Day holiday in the U.S.
April Brent crude , the global benchmark, settled with a gain of 62 cents, or 0.8%, at $75.84 a barrel on ICE Futures Europe.
Back on Nymex, March gasoline fell 0.2% to $2.087 a gallon, while March heating oildeclined 0.9% to $2.441 a gallon.
March natural gas jumped 7.6% to finish at $4.007 per million British thermal units.
S&P 500 scores record close; Dow flat, Nasdaq ekes out gain
Stocks were choppy to start the holiday-shortened week, bouncing between...
Stocks were choppy to start the holiday-shortened week, bouncing between positive and negative territory throughout Tuesday's session. But the three main benchmarks managed to close in the green, with the S&P 500 notching a new record close.
Thanks to a late burst of buying power, the S&P 500 closed up 0.2% at 6,129, the Nasdaq Composite added 0.07% to 20,041 and the Dow Jones Industrial Average edged up 0.02% to 44,556
As private equity pulls back from US shale, family offices...
As private equity pulls back from US shale, family offices managing the wealth of billionaires such as George Soros and Carlos Slim are stepping in, enticed by the industry's newfound discipline and steadier returns. Family offices have invested about $15 billion in the sector and are expected to provide around 12% of its total capital this year, up from 7% a few years ago, according to financial services firm Stephens and law firm Haynes Boone.
Williams plans to add 10 Bcf of additional natural gas storage capacity...
Williams plans to add 10 Bcf of additional natural gas storage capacity to its Pine Prairie facility in Louisiana and launch two new expansion projects on the Northwest Pipeline, bringing the total to six, with a combined capacity of about 580 MMcf/d. Additionally, the company is progressing toward its first data center supply agreement.
DUC decline could limit US shale operators' agility
US shale producers worked through a large portion of their drilled-but-uncompleted...
US shale producers worked through a large portion of their drilled-but-uncompleted wells in 2024, with the Midland Basin alone seeing a drop of 233 wells from the second to the fourth quarter, according to Enverus data. This trend was also evident in gas-rich basins, reducing some operators' DUC backlogs to levels that could hinder their ability to respond swiftly to demand increases.
