US refiners seen ramping up distillate output this summer
Traders and analysts expect US oil refiners to shift their focus to jet fuel and diesel production this...
Traders and analysts expect US oil refiners to shift their focus to jet fuel and diesel production this summer as rising export demand amid a supply crunch in Europe boosts the profitability of distillates versus gasoline. "The US is now acting as the barrel of last resort for an Atlantic Basin that scrambles to find alternatives to shunned Russian crude oil and petroleum products," said analysts at Citi.
Natural Gas Prices Consolidate Following EIA Inventory Report
Natural gas prices moved slightly higher on Thursday closing...
Natural gas prices moved slightly higher on Thursday closing up 2 cents at $6.95, following the Department of Energy’s inventory report. LNG demand remains strong, and natural gas arrivals at LNG terminals continue to climb. Five of the past six days have been above 12.27 Bcf. The weather is expected to be colder than normal on the East Coast and mid-West for the next 2-weeks.
According to EIA estimates, natural gas in storage was 1,450 Bcf as of Friday, April 15, 2022. This rise in stockpiles represents a net increase of 53 Bcf from the previous week. Expectations were for a 40 Bcf build. Stocks were 428 Bcf less than last year at this time and 292 Bcf below the five-year average of 1,742 Bcf. At 1,450 Bcf, the total working gas is within the five-year historical range.
Dow finishes 360 points lower as stocks give up strong early gains
Stocks ended sharply lower Thursday, reversing strong early gains as Treasury yields saw a renewed rise....
Stocks ended sharply lower Thursday, reversing strong early gains as Treasury yields saw a renewed rise. The Dow Jones Industrial Average DJIA, -1.05% fell around 369 points, or 1%, to finish near 34,792, according to preliminary figures, while the S&P 500 SPX, -1.48% dropped 1.5% and the Nasdaq Composite COMP, -2.07% tumbled 2.1%. The yield on the 10-year Treasury note rose around 6 basis points to 2.902%.
Oklahoma Shale Driller Chaparral Rebrands as Canvas Energy
Chaparral Energy Inc. unveiled on April 20 a corporate rebranding to Canvas...
Chaparral Energy Inc. unveiled on April 20 a corporate rebranding to Canvas Energy Inc., completing a strategic transformation that emphasizes the company’s ESG principles, according to CEO Chuck Duginski.
“While we have a long history as a trusted operator in Oklahoma, we have made tremendous progress over the last several years in completely transforming our business,” Duginski commented in a company release.
“We have clearly articulated our ESG principles and have become leaders in EH&S performance,” he continued.
