Dow ends down over 750 points to book its worst day in three months as recession fears mount
U.S. stock indexes finished sharply lower on Thursday with the...
U.S. stock indexes finished sharply lower on Thursday with the Dow Jones Industrial Average logging its biggest daily decline in over three months, as investors continued to digest tough talk from the Federal Reserve on inflation that revived concerns about a potential U.S. recession.
The Dow Jones Industrial Average DJIA fell 764.13 points, or 2.3%, to finish at 33,202.22. The index booked its biggest daily drop since Sept. 13, when the Dow dropped more than 1,200 points.
The S&P 500 SPX dropped 99.57 points, or 2.5%, ending at 3,895.75, as the large-cap index logged for its worst day since early October.
The Nasdaq Composite COMP tumbled 360.36 points, or 3.2%, to finish at 10,810.53, booking its worst day since November 2.
Sources: Kayne Anderson Seeks $1.5 Billion for Oil-and-gas Fund
Kayne Anderson Capital Advisors has begun raising a new investment vehicle dedicated to U.S. oil and...
Kayne Anderson Capital Advisors has begun raising a new investment vehicle dedicated to U.S. oil and gas production, bucking the trend of private equity firms fleeing the sector because of its financial volatility and environmental concerns, people familiar with the matter said on Wednesday.
The alternative asset manager started marketing to investors last week Kayne Private Energy Income Fund III, aiming to secure $1.5 billion to buy and develop businesses generating steady cash flow from established production sites, the sources said.
Faced with declining well performance and a shrinking inventory of top-tier drilling locations in the...
Faced with declining well performance and a shrinking inventory of top-tier drilling locations in the Permian Basin, Texas shale operators are increasingly filing for permits to drill within city limits, with Midland seeing a nearly twofold year-over-year jump in the number of applications received in 2022. Evercore ISI analyst James West predicts premium drilling inventory will deplete in the next four to six years, while BloombergNEF estimates productivity per lateral foot from wells drilled this year is down 8% to 13% compared to last year.
Denbury has announced two separate agreements to beef up its carbon capture and sequestration business...
Denbury has announced two separate agreements to beef up its carbon capture and sequestration business along the US Gulf Coast. The agreements set the stage for the potential development of two carbon dioxide sequestration sites in southwest Louisiana and Mississippi that could hold up to 275.5 million short tons and 303 million short tons of CO2, respectively.
Leading energy firms get involved in hydrogen initiative
The Open Hydrogen Initiative, a collaboration launched earlier...
The Open Hydrogen Initiative, a collaboration launched earlier this year to provide transparent accounting of emissions from hydrogen production, has brought several new backers on board, including energy companies Duke Energy, ExxonMobil, Breakthrough Energy and EQT, as well as hydrogen advocates, academics and think-tank researchers from various institutions. Drawing on the knowledge of its members, the initiative aims to roll out a trial version of an emissions measurement tool by the fourth quarter of 2023 and demonstrate it at US hydrogen production plants.
