U.S. stocks closed mixed Monday, showing little improvement after the Federal Reserve’s senior...
U.S. stocks closed mixed Monday, showing little improvement after the Federal Reserve’s senior loan officer opinion survey on bank lending practices showed a tightening in credit conditions in the first quarter. The Dow Jones Industrial Average DJIA, -0.17% ended 0.2% lower, while the S&P 500 SPX, +0.05% edged up 0.1% and the Nasdaq Composite COMP, 0.18% rose 0.2%, according to preliminary data from FactSet. The Fed’s survey, released Monday afternoon, said “banks cited a less favorable or more uncertain economic outlook, reduced tolerance for risk, deterioration in collateral values, and concerns about banks’ funding costs and liquidity positions.” The survey found weaker demand for commercial and industrial loans, real estate loans, and auto and consumer loans, but demand was “basically unchanged” for credit cards.
Despite declining natural gas prices, gas operators are...
Despite declining natural gas prices, gas operators are opting to keep drilling activity steady, counting on demand from upcoming liquefied natural gas facilities and improved balance sheets to help them weather the current oversupply and subdued price environment. Executives and analysts caution that scaling back activity too quickly could hurt drillers' competitive edge and ability to keep up with future demand.
US shale oil explorers see some drilling cost relief
Reduced competition for resources and lower prices for materials and services such as steel pipe and...
Reduced competition for resources and lower prices for materials and services such as steel pipe and fracking crews are driving down oil drilling costs in the US shale patch, shale executives say. Meanwhile, oilfield service providers are facing a difficult choice between idling equipment to preserve pricing power or offering discounts to keep their customers and market share intact.
Crescent Point Energy advised that it has temporarily shut in its Kaybob Duvernay production...
Crescent Point Energy advised that it has temporarily shut in its Kaybob Duvernay production in response to the recent Alberta wildfires. This precautionary measure is being taken by the Company to protect the safety of its staff, the community, the environment, and its assets. As a result, approximately 45,000 boe/d of production in the Kaybob Duvernay has been temporarily shut-in with a plan to restart production once safe and permitted to do so. No damage has been reported to the Company's assets.
Natural gas futures are starting the week higher on the forecast for higher demand as the NOAA 6-10 day...
Natural gas futures are starting the week higher on the forecast for higher demand as the NOAA 6-10 day Sunday afternoon has TX, LA, NM, and OK experiencing below-normal temperatures, KS and MI normal temps while everywhere else is seen above-normal. The 8-14 day has it warmer in the West and upper-Midwest, a mix of normal and above-normal temps on the East Coast while everywhere else is seen below-normal. Europe's TTF is down (1.5%) to 36.02 euros per MWh. June Futures were trading at $2.187, up almost 5 cents, as of 9:50 AM ET.
