Benchmark U.S. crude oil for July delivery fell $1.12 to $70.17 a barrel Friday. Brent crudefor August delivery fell $1.17 to $74.79 a barrel.
Wholesale gasoline for July delivery fell 2 cents $2.59 a gallon. July heating oilfell 3 cents to $2.36 a gallon. July natural gasfell 10 cents to $2.25 per 1,000 cubic feet.
Nasdaq Composite notches 7-week winning streak as U.S. stocks end the week higher
U.S. stock indexes finished higher on Friday with the Nasdaq...
U.S. stock indexes finished higher on Friday with the Nasdaq CompositeCOMP, +0.16% booking its longest weekly winning streak since November 2019, while the S&P 500SPX, +0.11% extended gains after technically exiting bear-market territory, logging its fourth straight weekly advance. On Friday, the Dow Jones Industrial AverageDJIA, +0.13% rose 43 points, or 0.1%, to end at 33,877, while the S&P 500 advanced 0.1%, to finish at 4,298. The Nasdaq was up 0.2%.
For the week, the S&P 500 posted a 0.4% gain and its fourth positive week in a row. It was the index’s longest weekly winning streak since August 12, 2022. The Nasdaq Compositejumped 0.1%, while the Dow industrialsrose 0.3% on a weekly basis, according to Dow Jones Market Data.
From Twitter: Apache Corp. Suspends North Sea Drilling | Reduces Workforce
U.S. oil producer Apache Corp on Friday...
U.S. oil producer Apache Corp on Friday said it was suspending drilling in the North Sea and reducing its British workforce because high taxes have made the operation less competitive. #ootthttps://t.co/5fALMOSJhM
Grand Isle LNG has proposed building a 4.62-million-short-ton-per-year liquefied natural gas export...
Grand Isle LNG has proposed building a 4.62-million-short-ton-per-year liquefied natural gas export facility offshore Plaquemines Parish, La., with first deliveries targeted for 2026. The project will be executed in two phases using a platform-based modular design approach, and all platforms and many components will be fabricated in Louisiana.
Nitrogen-rich Permian feed gas burdens US LNG exporters
The growing share of nitrogen and heavy hydrocarbons in Permian Basin feed gas is turning...
The growing share of nitrogen and heavy hydrocarbons in Permian Basin feed gas is turning into a major challenge for US liquefied natural gas exporters and project developers. At the recent LNG Export Engineering and Construction Conference in Houston, industry leaders discussed the negative effects of this problem, including decreased efficiency and higher costs, and explored potential solutions such as burning off excess compounds and seeking alternative gas mixtures with lower nitrogen levels.
