Gasoline prices continue to climb for the fourth straight week,...
Gasoline prices continue to climb for the fourth straight week, rising 32.7 cents over the last month as crude oil prices rise, data from AAA showed on Monday.
Gasoline prices are up 11.8 cents over a week ago, and are 9.4 cents higher than they were a year ago, before Russia’s “special military operation” in Ukraine. The national average for a gallon of gasoline is $3.423 per gallon as of Monday, according to AAA data.
Gasoline prices are rising along with the rise in WTI crude oil prices, which are up $3 per barrel from a week ago, and up $2 per barrel from a month ago.
Oilfield services giant SLB, formerly Schlumberger, reported net earnings of $1.03 billion, excluding...
Oilfield services giant SLB, formerly Schlumberger, reported net earnings of $1.03 billion, excluding items, for the fourth quarter, surpassing analyst expectations, while revenues from its North America and international businesses increased by 27% and 26%, respectively. "The macro backdrop and market fundamentals that underpin a strong multi-year upcycle for energy remain very compelling in oil and gas and in low-carbon energy resources," said SLB CEO Olivier Le Peuch.
U.S. stocks finish higher as Nasdaq's 2% gain paces advance
U.S. stocks finished at their highest level in a month on Monday as strong performances by consumer-technology...
U.S. stocks finished at their highest level in a month on Monday as strong performances by consumer-technology giant Apple Inc. AAPL, +2.35% and chipmaker NVIDIA Inc. NVDA, +7.59% pushed the Nasdaq Composite COMP, +2.01% further into the lead. The Nasdaq gained roughly 223 points, or 2%, to finish at around 11,364, bringing the tech-heavy index’s year-to-date gain to 8.6%, according to FactSet data. The Dow Jones Industrial Average DJIA, +0.76% gained 254 points, or 0.8%, to close at roughly 33,630. The S&P 500 SPX, +1.19% gained 47 points, or 1.2%, to 4,020. The Dow is up approximately 1.5% since the start of the year, while the S&P 500 is up roughly 4.7%. The tech-heavy Nasdaq has outperformed the other major U.S. indexes since the start of 2023, a reversal of the trend from 2022, when the value-heavy Dow outperformed the Nasdaq by the widest margin since 2000, according to Dow Jones Market Data. Investors await a batch of earnings from mega cap technology stocks this week, including Microsoft Corp MSFT, +0.98%.
Midland Basin E&P HighPeak Energy Exploring Possible Sale
Independent E&P HighPeak Energy Inc. is exploring a potential sale of the company among strategic...
Independent E&P HighPeak Energy Inc. is exploring a potential sale of the company among strategic alternatives, the company said in a Jan. 23 press release. The Fort Worth, Texas-based operator, with acreage in the Midland Basin and a market capitalization of about $3 billion, said its board had voted to initiate a “evaluate certain strategic alternatives to maximize shareholder value.”
The TOTAL number of US oil and natural gas rigsslid by four to 771 last week, as the oil rig countshed 10 units for its largest drop since September 2021 and the natural gas rig countrose by six to 156, Baker Hughes data show. Separately, the Energy Information Administration reported last week that the drilled-but-uncompleted well inventory across the top seven US shale formations increased to 4,577 in December as producers drilled the most wells since March 2020.
