OklahomaMinerals.com

Snippets

• Oil prices hit two-week low on China fears, hawkish Fed outlook
  Oil prices fell to a two-week low in Asian trade on Thursday, extending recent losses...
  Oil prices fell to a two-week low in Asian trade on Thursday, extending recent losses as markets fretted over an economic slowdown in China, while strength in the dollar also weighed amid continued signs of a hawkish Federal Reserve.
  
  A bigger-than-expected draw in U.S. inventories largely failed to pull oil prices from a three-day tailspin, as Energy Information Administration (EIA) data also showed that U.S. production came near pre-COVID highs in recent weeks.
  
  Brent oil futures fell 0.2% to $83.13 a barrel, while West Texas Intermediate crude futures fell 0.4% to $79.03 a barrel by 21:04 ET (01:04 GMT). Both contracts were at their weakest level in two weeks and were now down for a fourth consecutive session.
  Read More
• Texas joins Oklahoma and other states in creating EV fees for highway use
  It’s been two years since Oklahoma adopted a highway-use fee for electric vehicle users in the state,...
  It’s been two years since Oklahoma adopted a highway-use fee for electric vehicle users in the state, a fee to offset the loss of gasoline taxes that go toward highway maintenance.
  
  Within a few weeks, electric vehicle drivers in Texas will get the same news. They will be forced to pay $200 a year to register their cars and trucks that run on battery-powered electricity.
  
  It makes 30 states across the U.S. that charge EV owners. Oklahoma’s legislature created the use fee under the “Driving on Road Infrastructure with Vehicles of Electricity (DRIVE) Act of 2021,” an act Gov. Kevin Stitt signed into law in April of that year.
  
  E&E News reports that it’s made for some unhappy EV drivers.
  Read More
• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for September delivery...
  Benchmark U.S. crude oil for September delivery fell $1.61 to $79.38 a barrel Wednesday. Brent crude for October delivery fell $1.44 to $83.45 a barrel.
  
  Wholesale gasoline for September delivery rose 2 cents to $2.87 a gallon. September heating oil fell 1 cent to $3.02 a gallon. September natural gas fell 7 cents to $2.59 per 1,000 cubic feet.
  
  
  Read More
• Stocks post losses after Fed minutes point to lingering inflation and rate risks
  U.S. stocks posted back-to-back losses Wednesday after Federal...
  U.S. stocks posted back-to-back losses Wednesday after Federal Reserve minutes of its July meetings showed concerns about inflation revving back up. The Dow Jones Industrial Average DJIA fell about 180 points, or 0.5%, ending near 34,765, according to preliminary FactSet data. The S&P 500 Index SPX gave up 0.8% and the Nasdaq Composite Index COMP closed 1.2% lower. All three benchmarks booked back-to-back loses, while the S&P 500 ended at its lowest level in more than a month. Minutes of the Fed’s July 25-26 meeting said “Most participants continue to see significant upside risks to inflation, which could require further tightening of monetary policy.”
  Read More
• Ohio Utica's oil potential back in the spotlight
  Oil exploration is making a comeback in Ohio's Utica fairway,...
  Oil exploration is making a comeback in Ohio's Utica fairway, with companies such as Ascent Resources Utica and Encino Energy's EAP Ohio reporting impressive results from their newest wells. Ascent's two-well Lavada RCH GR pad and three-well Jackalope WSG GR pad yielded 2,691 barrels per day and 4,405 bpd on average, respectively, during initial months of production, while Encino/EAP Ohio generated 1,118 bpd on average from each of its four new wells in Carroll County during their first 182 days online.
  Read More

• Prev
• Next