Mortgage rates hit 6% for first time since 2008 with applications at 23-year low
The numbers: A surge in mortgage rates to 6% is giving home shoppers chills, pushing...
The numbers: A surge in mortgage rates to 6% is giving home shoppers chills, pushing them to wait to refinance or buy a home.
With rates doubling from where they were a year ago, demand from buyers continues to weaken, as reflected in the Market Composite Index, a measure of mortgage application volume.
The index is now at its lowest level since December 1999, the Mortgage Bankers Association (MBA) said on Wednesday.
The market index fell 1.2% to 255 in the week ending September 9. A year ago, the index stood at 707.9.
Citizen Energy reports completion of Canadian County wells
Two of the latest Canadian County producers were wells on a single pad that had combined...
Two of the latest Canadian County producers were wells on a single pad that had combined oil production of more than 600 barrels of oil a day.
Citizen Energy III LLC, of Tulsa drilled the Kolar 1h-35 and the Kolar 2h-35, drilled on a pad in Section 2-10N 6W, a site about 3 miles west of Mustang. The Kolar 1-h-35 produced 326 barrels of oil a day and 1,358 Mcf of natural gas from a depth of 14,584 feet. The completion report showed a late March spud date.
The Kolar 2h-35 produced 314 barrels of oil a day and 1,674 Mcf of natural gas. It had a drilled depth of 14,758 feet and the completion report showed a spud date in March 2022.
Total combined production was 640 barrels of oil a day.
Benchmark U.S. crude oil for October delivery fell 47 cents to $87.31 a barrel Tuesday. Brent crudefor November delivery fell 83 cents to $93.17 a barrel. Wholesale gasolinefor October delivery rose 4 cents to $2.48 a gallon. October heating oilfell 6 cents to $3.54 a gallon. October natural gas rose 3 cents to $8.28 per 1,000 cubic feet.
The American Petroleum Institute (API) reported a build this week for crude...
The American Petroleum Institute (API) reported a build this week for crude oil of 6.035 million barrels, while analysts predicted a draw of 200,000 barrels.
In the week prior, the API reported a surprise build in crude oil inventories of 3.645 million barrels after analysts had predicted a draw of 733,000 barrels.
Distillate stocks saw a build of 1.75 million barrels for the week, on top of last week's 1.833-million-barrel increase.
Cushing inventories were up by 101,000 barrels this week. Last week, the API saw a Cushing decrease of 772,000 barrels. Official EIA Cushing inventory for the week ending September 2 was 24.783 million barrels, down from 25.284 million barrels in the prior week.
