The energy sector is off to a higher start, tracking gains in...
The energy sector is off to a higher start, tracking gains in the underlying commodities. U.S. equities are mixed in pre-market trading as investors await key inflation data later this week. U.S. consumer price inflation figures for April will be released on Wednesday which will have an influence on the Fed's stance towards future interest rate decisions.
WTI and Brent crude oil futures jumped this morning on easing recession concerns and as investors purchase energy contracts at a bargain following three-consecutive weeks of declines. Some traders believe the recent sell-off is over with Goldman Sachs analyst over the weekend saying that concerns over near-term demand and elevated supplies were "overblown". Voluntary output cuts made by OPEC+ begin this month and the group holds its next meeting on June 4th. The market will be keeping an eye out for OPEC's latest monthly oil market report which is due on Thursday and will provide an updated reading on the demand and supply outlook.
New tracking satellites are identifying methane polluters
Satellites using high-resolution technology can pinpoint the release of methane into the atmosphere and...
Satellites using high-resolution technology can pinpoint the release of methane into the atmosphere and point out the offenders, which could have enforcement implications, experts say. The satellite observations study the way sunlight reflects off the earth's surface and are exposing flaws in traditional reporting systems, which have tended to underestimate emissions.
Tellurian to expand in Haynesville despite drilling pause
Tellurian will pause its natural gas drilling operations in the Haynesville Shale due to low prices,...
Tellurian will pause its natural gas drilling operations in the Haynesville Shale due to low prices, aiming to maintain production levels steady at around 200 MMcf/d this year and defer new well drilling until prices rebound, Executive Chairman Charif Souki has announced. The company plans to expand its nearly 31,000-acre position in the region by 20,000 acres by the end of 2024, as it looks to fully cover the feed gas needs of its proposed Driftwood LNG export terminal in Louisiana with its own production.
Kentucky Derby favorite Forte scratched in stunning turn of events
Forte, who was slated to be the favorite...
Forte, who was slated to be the favorite for Saturday’s Kentucky Derby, was scratched on the morning of the race.
The decision was made after Forte went through his routine gallop Saturday morning and a veterinary inspection. Forte’s defection adds to a strange and tragic week at Churchill Downs that began with the death of Wild On Ice, who was euthanized after a training injury. Two other horses were euthanized after suffering on-track injuries.
Despite recent declines in refining margins and pump prices, US refiners Valero Energy, Marathon Petroleum...
Despite recent declines in refining margins and pump prices, US refiners Valero Energy, Marathon Petroleum and ExxonMobil maintain an optimistic outlook. They anticipate that weakening margins in Asia and Europe, coupled with lower natural gas prices, sustained fuel demand and the upcoming summer driving season, will boost US crack spreads.
