126 years ago today, the Nellie Johnstone No. 1 became the first commercially productive oil...
126 years ago today, the Nellie Johnstone No. 1 became the first commercially productive oil well in Oklahoma (still Indian Territory, at that time). Named for the daughter of the oilman who drilled it, the well was completed on April 15, 1897 and produced over 100,000 barrels of oil before being capped in 1948. The land where the well was situated was sold to the city of Bartlesville in 1915, and remains as Johnstone Park to this day.
Housing is so unaffordable that banks are losing money for each mortgage they finance. It's...
Housing is so unaffordable that banks are losing money for each mortgage they finance. It's the first time ever that this trend has emerged, with some providers averaging a $301 loss per loan, recent data shows. This can be chalked up to both climbing loan prices and housing demand.
U.S. Oil & Gas Rig Count Falls for Third Week in a Row
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in...
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row, energy services firm Baker Hughes Co. said in its closely followed report on April 14.
The total oil and gas rig count, an early indicator of future output, fell by three to 748 in the week to April 14.
Despite this week's rig decline, Baker Hughes said the total count was still up 55 rigs, or about 8%, over this time last year.
U.S. oil rigsfell by two to 588 this week, their lowest since June 2022, while gas rigsfell by one to 157.
U.S. stocks finished lower on Friday following hawkish comments from a top Federal Reserve official and...
U.S. stocks finished lower on Friday following hawkish comments from a top Federal Reserve official and downbeat retail sales data. Meanwhile, a spate of big-bank earnings came in better than expected, boosting some financial stocks.
The S&P 500 fell 0.2%, while the Nasdaq Composite declined 0.4% and the Dow Jones Industrial Average shed around 143 points, or 0.4%.
All three of the main indexes logged their fourth weekly gainin five, with the S&P 500 rising 0.8%, Nasdaq gaining 0.3%, and the Dow up 1.2%, according to FactSet data. Shares of JPMorgan Chase & Co., Citigroup Inc., and Wells Fargo & Co. all climbed after their quarterly earnings surpassed Wall Street expectations.
