US drillers cut oil and gas rigs for ninth week in a row
U.S. energy firms this week cut the number...
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a ninth week in a row for the first time since July 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday.
The total oil and gas rig count, an early indicator of future output, fell by 8 to 674 in the week to June 30, the lowest since April 2022.
Baker Hughes said that puts the total rig count down 76 rigs, or 10%, below this time last year.
U.S. oil rigsfell by one to 545 this week, their lowest since April 2022, while gas rigs fell 6 to 124, their lowest since February 2022.
Benchmark U.S. crude oil for August delivery rose 78 cents to $70.64 a barrel Friday. Brent crude for August delivery rose 56 cents to $74.90 a barrel.
Wholesale gasoline for July delivery rose 2 cents $2.63 a gallon. July heating oilrose 3 cents to $2.45 a gallon. August natural gasrose 10 cents to $2.80 per 1,000 cubic feet.
Stocks end higher Friday, Nasdaq scores best first half of a year since 1983
U.S. stocks closed higher Friday, ending the month strong and the first half of 2023...
U.S. stocks closed higher Friday, ending the month strong and the first half of 2023 with robust gains as a long-anticipated economic recession failed to materialize.
The Dow Jones Industrial AverageDJIA, +0.84% rose about 283 points Friday, up 0.8%, ending near 34,405. It gained 4.6% in June and 3.8% in the last six months, its best first half since 2021. The S&P 500 indexSPX, +1.23% rose 1.2% Friday, 2.3% in June and 15.9% in the first half, its best start to a year since 2019. But the Nasdaq Composite Index was the standout, gaining 1.5% on Friday and 31.7% in the first half of 2023, which was its best first half since 1983, according to Dow Jones Market Data.
Apple finishes the week as the first U.S. company valued at $3 trillion
Apple Inc. closed out the June quarter with a bang, clinching...
Apple Inc. closed out the June quarter with a bang, clinching a $3 trillion valuation for the first time, 719 trading days after it crossed the $2 trillion threshold.
Shares of Apple AAPL, +2.31% advanced 2.3% in Friday trading, given them a market capitalization above $3 trillion. The company previously hadn’t ended a trading session at the milestone mark, though it got close Jan. 3, 2022, when it traded intraday at levels that would have amounted to that valuation level but failed to close there.
Kodiak Gas Services secures $256M in lackluster IPO
Oilfield service provider Kodiak Gas Services has raised $256...
Oilfield service provider Kodiak Gas Services has raised $256 million at a $1.2 billion valuationin a subdued initial public offering of 16 million shares. The company aims to use the IPO proceeds to reduce debt and expand its compression capacity in the Permian Basin.
