Issuance of new drilling permits takes a dive in California
New drilling permits issued by California's Geologic Energy Management Division have plummeted to seven...
New drilling permits issued by California's Geologic Energy Management Division have plummeted to seven so far in 2023, compared to over 200 during the same period last year, even as the backlog of new drilling permit applications exceeds 1,400. The agency is prioritizing applications to permanently close wells, in line with the state's plan to end oil drilling by 2045.
American Airlines, JetBlue to end partnership after antitrust ruling
The airlines will stop selling tickets for each other's flights, known as codesharing, as well as reciprocal...
The airlines will stop selling tickets for each other's flights, known as codesharing, as well as reciprocal frequent-flyer benefits starting July 21. The news comes two months after a federal judge ruled the companies must dissolve their Northeast Alliance deal—which allowed them to share revenue and coordinate schedules to New York and Boston—because it limited competition and drove up prices.
US Drillers Cut Oil and Gas Rigs for 10th Time in 11 Weeks
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a 10th time in 11...
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a 10th time in 11 weeks, energy services firm Baker Hughes said in its closely followed report on July 14.
The total oil and gas rig count, an early indicator of future output, fell by 5 to 675 in the week to July 14.
Baker Hughes said that puts the total count down 81 rigs, or 11%, below this time last year.
U.S. oil rigs fell 3 to 537 this week, their lowest since April 2022, while gas rigs fell 2 to 133.
Benchmark U.S. crude oil for August delivery fell $1.47 to $75.42 a barrel Friday. Brent crude for September delivery fell $1.49 to $79.87 a barrel.
Wholesale gasoline for August delivery fell 4 cents $2.64 a gallon. August heating oilfell 1 cent to $2.60 a gallon. August natural gas fell 1 cent to $2.55 per 1,000 cubic feet.
📈Dow rises for fifth day as U.S. stocks close out best week in a month
U.S. stocks finished mostly lower on Friday, with only the Dow...
U.S. stocks finished mostly lower on Friday, with only the Dow logging a fifth-straight daily gain, as an early advance by the S&P 500 and Nasdaq Composite faded in afternoon trade. But all three benchmarks powered higher this week, with the S&P 500 logging its best such gains since June. The S&P 500 SPX, -0.10% shed 4.36 points, or 0.1%, to 4,506.66 on Friday, according to preliminary closing data from FactSet. It rose 2.3% for the week. The Nasdaq Composite COMP, -0.18% fell 24.87 points, or 0.2%, to 14,113.70 on Friday, but gained 3.3% on the week. The Dow Jones Industrial Average DJIA, +0.33% rose 114.75 points, or 0.3%, to 34,509.69, bringing its weekly gain to 2.3%.
