The Bureau of Land Management netted roughly $24 million from an oil...
The Bureau of Land Management netted roughly $24 million from an oil and gas sale on public lands in North Dakota and Montana held this week, despite protests from climate organizations.
The oil lease auction was the most lucrative the Biden administration has held in the region this year, but it still fell short of what some drillers wanted to see on the table. It was opposed by several prominent environmental groups who have called on President Joe Biden to end oil sales on public lands because of fossil fuels’ contribution to climate change.
The auction included over 5,000 acres, with most parcels clustered in the prolific Bakken oil region. A handful of parcels were also auctioned in northern and southern Montana.
Benchmark U.S. crude oil for September delivery rose...
Benchmark U.S. crude oil for September delivery rose 96 cents to $76.19 per barrel Thursday. Brent crude for October delivery rose 83 cents to $79.16 per barrel.
Wholesale gasoline for September delivery rose 4 cents to $2.40 a gallon. September heating oil was unchanged at $2.36 a gallon. September natural gas rose 2 cents to $2.13 per 1,000 cubic feet.
S&P 500 has biggest percentage gain since late 2022 as stocks finish higher
All three major stock indexes closed higher for the second...
All three major stock indexes closed higher for the second time in six sessions on Thursday, fueled by weekly jobless claims that gave investors hope the U.S. labor market can continue to hold up.
Thursday's data was "soothing concerns over a U.S. economic recession,'' according to senior markets economist James Reilly at Capital Economics.
The Dow Jones Industrial Average finished up by 683.04 points, or 1.8%, at 39,446.49, based on preliminary data.
The S&P 500 closed up by 119.81 points, or 2.3%, at 5,319.31. On a percentage basis, it was the index's best day since Nov. 30, 2022.
The Nasdaq Composite closed up by 464.22 points, or 2.9%, at 16,660.02
U.S. first-time unemployment claims retreat from nearly one-year high
The numbers: The number of Americans who applied...
The numbers: The number of Americans who applied for unemployment benefits last week sank to 233,000 and receded from nearly one year, suggesting layoffs remain quite low and that the labor market is still in good shape.
New claims fell by 17,000 in the seven days that ended Aug. 3 from 250,000 in the prior week, the government said Thursday. The latest reading marks a one-month low.
Economists polled by the Wall Street Journal had forecast new claims to total 240,000, based on seasonally adjusted figures.
A surge in new claims at the end of July appeared to stem mostly from people in Texas being unable to work after Hurricane Beryl.
Williams sticks to current strategy despite demand surge
Despite strong demand for new natural gas supply from data centers, Williams...
Despite strong demand for new natural gas supply from data centers, Williams is holding off on additional Transco expansion projects beyond the current 1.6 Bcf/d Southeast Supply Enhancement, which could come online in late 2027. "Particularly in the Southeast and the mid-Atlantic...we frankly are kind of overwhelmed with the number of requests that we're dealing with and we are trying to make sense of those projects," said Williams CEO Alan Armstrong.
