Benchmark U.S. crude oil for May delivery fell $1.10 to $82.16 a barrel Thursday. Brent crudefor June delivery fell $1.24 to $86.09 a barrel.
Wholesale gasoline for May delivery fell 4 cents to $2.83 a gallon. May heating oilfell 3 cents to $2.67 a gallon. May natural gas fell 8 cents to $2.01 per 1,000 cubic feet
S&P 500, Dow book highest close in 2 months on more signs of cooling inflation and ahead of bank earnings
U.S. stocks finished sharply higher on Thursday, led by technology stocks, as traders parsed another...
U.S. stocks finished sharply higher on Thursday, led by technology stocks, as traders parsed another batch of inflation data showing pressures easing in March, while the first reports from what’s expected to be a gloomy first-quarter earnings season arrived, with several marquee releases due on Friday morning.
The S&P 500 and the Dow Jones Industrial Average booked their highest close since mid-February, according to Dow Jones Market Data.
Dow Jones Industrial Average DJIA, +1.14% rose 383.19 points, or 1.1%, to finish at 34,029.69.
S&P 500SPX, +1.33% gained 54.27 points, or 1.3%, to end at 4,146.22.
Nasdaq Composite COMP, 1.99% increased 236.93 points, or 2%, ending at 12,166.27.
Haynesville drilling activity slows amid low gas prices
The Haynesville Shale's natural gas production boom is showing signs of slowing as rig activity declines...
The Haynesville Shale's natural gas production boom is showing signs of slowing as rig activity declines along with gas prices. Haynesville gas production hit a record 16.2 Bcf/d earlier this month, but a weaker price environment coupled with high gas storage levels and elevated drilling costs could take some steam out of the drilling upswing that began in late 2021.
Occidental's road to net zero is paved with captured CO2
Occidental Petroleum is investing more than $1 billion in the first of up to 135 direct-air capture plants...
Occidental Petroleum is investing more than $1 billion in the first of up to 135 direct-air capture plants it's planning to build by 2035, in a bid to achieve net-zero emissions by 2050 while maintaining its oil extraction business. The technology is still in its infancy, but the company aims to take advantage of Inflation Reduction Act tax incentives and make a profit by selling CO2 removal credits, developing CO2-derived products such as synthetic jet fuel and using captured CO2 in enhanced oil recovery to produce net-zero oil.
N. American shale drillers optimistic for coming year
Oilfield costs in shale regions across North America are leveling off as drilling activity stabilizes...
Oilfield costs in shale regions across North America are leveling off as drilling activity stabilizes and materials and equipment availability improves, said oil and natural gas executives at an industry conference in Toronto last week. Enerplus CEO Ian Dundas expects a "relatively stable year," while Paramount Resources CEO Jim Riddell said oil patch inflation appears to have peaked.
