The energy sector is off to a higher start supported by strength in the...
The energy sector is off to a higher start supported by strength in the underlying commodities and U.S. equity futures. The major averages are expected to start Monday’s session slightly higher as investors brace themselves for the U.S. CPI data which will be released on Tuesday, followed by the Federal Reserve’s two-day policy meeting, with the consensus expecting another 50-basis point rate hike to be announced Wednesday at 2 PM ET.
WTI and Brent crude oil are trading near the flatline, but in positive territory, following last week’s sell-off as supply concerns outweigh fears of a looming global recession. Oil futures are gaining support from the closure of the Keystone pipeline and the threat of Russian production cuts. Yesterday, Canada’s TC Energy said it had not yet determined the cause of the oil pipeline leak and gave no indication to when the pipeline would resume operation. Traffic at Istanbul’s Bosphorus Strait fell Monday as the number of tankers waiting to pass decreased.
Natural gas futures surged this morning on forecasts for below-normal temperatures across most of the U.S. The upper Midwest, North and Central High Plains are expected to see the coldest temperatures.
U.S. expected to announce major nuclear fusion energy breakthrough
The U.S. Department of Energy said Sunday it would announce a "major scientific breakthrough" this...
The U.S. Department of Energy said Sunday it would announce a "major scientific breakthrough" this week after media reported a federal laboratory had recently achieved a major milestone in nuclear fusion research. The Financial Times reported Sunday that scientists in the California-based Lawrence Livermore National Laboratory (LLNL) had achieved a "net energy gain" from an experimental fusion reactor.
That would represent the first time that researchers have successfully produced more energy in a fusion reaction - the same type that powers the Sun - than was consumed during the process, a potentially major step in the pursuit of zero-carbon power.
Saudi foreign minister: 'All bets off' if Iran gets nuclear weapon
Saudi Arabia's foreign minister said on Sunday that Iran's Gulf Arab neighbors would act to shore up...
Saudi Arabia's foreign minister said on Sunday that Iran's Gulf Arab neighbors would act to shore up their security if Tehran were to obtain nuclear weapons.
"If Iran gets an operational nuclear weapon, all bets are off," Prince Faisal bin Farhan Al Saud said in an on-stage interview at the World Policy Conference in Abu Dhabi when asked about such a scenario.
"We are in a very dangerous space in the region...you can expect that regional states will certainly look towards how they can ensure their own security."
Emergency workers in Kansas are working through the weekend to clean up the largest U.S. crude oil spill...
Emergency workers in Kansas are working through the weekend to clean up the largest U.S. crude oil spill in nearly a decade – which shut a Keystone pipeline on Wednesday.
More than 14,000 barrels of crude oil had spilled into Mill Creek, in Washington County. Investigators are finding out what caused the leak.
US Oil, Gas Rig Count Falls for First Time in Six Weeks
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in...
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in six weeks as oil prices fell to their lowest this year.
The Total U.S. oil and gas rig count, an early indicator of future output, fell by four to 780 in the week of Dec. 9, according to energy services firm Baker Hughes Co.
U.S. oil rigs fell two to 625 this week, while gas rigsdeclined by two to 153, their lowest since July.
