Oil ends higher, finds footing after falling to 15-month low
Oil futures ended higher Thursday, stabilizing after the U.S. benchmark ended below $70 a barrel for...
Oil futures ended higher Thursday, stabilizing after the U.S. benchmark ended below $70 a barrel for the first time since December 2021 in the previous session. Crude was pressured in recent sessions as banking woes amplified recession worries.
West Texas Intermediate crude for April deliveryCL.1 rose 74 cents, or 1.1%, to finish at $68.35 a barrel on the New York Mercantile Exchange, after posting the lowest close for a front-month contract since Dec. 3, 2021 on Wednesday.
May Brent crude BRN00, the global benchmark, rose $1.01, or 1.4%, to settle at $74.70 a barrel on ICE Futures Europe, after closing Wednesday at its lowest since Dec. 20, 2021.
Back on Nymex, April gasolineRBJ23 gained 2.7% to close at $2.5035 a gallon, while April heating oil HOJ23 gained 1.5% to end at $2.6435 a gallon.
April natural-gas futuresNGJ23 rose 3.1% to settle at $2.514 per million British thermal units.
First Republic Reaches Rescue Deal With Other Banks
The lender will receive $30 billion in deposits from other banks in an effort to restore confidence in...
The lender will receive $30 billion in deposits from other banks in an effort to restore confidence in the banking system. Earlier, Treasury Secretary Janet Yellen told a Senate panel that the banking system “remains sound.”
The impending surge in new export projects is projected to boost global liquefied natural gas supply...
The impending surge in new export projects is projected to boost global liquefied natural gas supply by 67% from 2021 levels to 701 million short tons per year by 2030, raising the risk of market saturation and price decline, especially amid growing competition from renewable and nuclear energy. LNG prices could decline after 2027, analysts say, citing demand uncertainty.
BNEF identifies 3 main drivers of US oil output slowdown
US oil production will average between 12.4 million barrels per day and 12.9 million bpd this year as...
US oil production will average between 12.4 million barrels per day and 12.9 million bpd this year as growth is likely to remain subdued, BloombergNEF predicts in a new analysis. Declining well productivity, investment restraint and high oilfield service costs contribute to this slowdown, with scant chances of a turnaround anytime soon, according to BNEF oil analyst Claudio Lubis.
Colo. oil, gas industry alarmed by proposed water use bill
Colorado lawmakers have proposed a new bill that would mandate oil and natural gas companies to use recycled...
Colorado lawmakers have proposed a new bill that would mandate oil and natural gas companies to use recycled water in 75% of the drilling and fracking operations by 2027, increasing to 90% by 2030. American Petroleum Institute-Colorado Director Lynn Granger called the bill "a prescriptive and unworkable solution in search of a problem" that "supposes a scale of recycled or reused water that far exceeds any real or imagined storage capacity in the Denver-Julesburg Basin and imposes a regulatory burden far exceeding the current capacities of the Colorado Oil and Gas Conservation Commission."
