EIA reports a weekly climb of 79 billion cubic feet in U.S. natural-gas supplies
The U.S. ...
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies rose by 79 billion cubic feet for the week ended Nov. 4. That compared with an average analyst forecast for an increase of 82 billion cubic feet, according to a survey conducted by S&P Global Commodity Insights. Total working gas stocks in storage stand at 3.580 trillion cubic feet, down 37 billion cubic feet from a year ago and 76 billion cubic feet below the five-year average, the government said.
U.S. WTI crude (CL1:COM) for December delivery +3.9% to $89.87/bbl, extending a 1.1% rise in the previous session, and January Brent crude (CO1:COM) +3.3% to $96.76/bbl, after adding 0.8% in the prior session.
APA Looks to Sell Oil, Gas Producing Land in Southeast Texas:
APA Corp (Apache). is looking to sell around 212,000 net acres of oil and gas-producing land in southeast...
APA Corp (Apache). is looking to sell around 212,000 net acres of oil and gas-producing land in southeast Texas' Eagle Ford and Austin Chalkshale basins, according to a document seen by Reuters.
The sale could fetch APA between $450 million and $500 million, two sources close to the bidding process estimated. However, they cautioned the valuation was susceptible to commodity price volatility and that APA could ultimately retain the asset if it did not receive a suitable offer.
A federal judge in Texas blocked President Biden’s student loan cancellation program, adding to the...
A federal judge in Texas blocked President Biden’s student loan cancellation program, adding to the legal troubles of Biden’s executive action to wipe out $430 billion in student debt.
Alex Jones and his company were ordered to pay an extra $473 million in damages for promoting conspiracy theories about the Sandy Hook school shooting. Jones’s total judgment now stands at $1.44 billion.
Hurricane Nicole became the first hurricane to make landfall in the US during November in 37 years, coming ashore near Vero Beach, FL, as a Category 1 storm.
KFC apologized after it sent out a Kristallnacht promotion to customers in Germany, blaming it on an “error in our system.”
Yesterday’s inflation report showed that US consumer price growth came in lower than expected in October and dropped from the month before. It’s a hopeful sign that Fed Chair Jerome Powell’s rate hikes, paired with easing supply chain snags, are starting to cool off inflation.
The deets:
The consumer price index increased 7.7% annually and 0.4% monthly. That yearly figure is the slowest rate since January.
But more important is the slowdown in core CPI, which is a better gauge of inflation because it strips out volatile food and gas prices. Core CPI rose 0.3% monthly in October, a big drop from 0.6% in September and August.
