Greater proppant use boosts Crescent's Uinta oil ops
An updated completion design that uses twice as much proppant per foot...
An updated completion design that uses twice as much proppant per foot has enabled Crescent Energy to drill significantly larger wells in the Uinta Basin while reducing costs by 35% per barrel of oil equivalent, according to Crescent CEO David Rockecharlie. Rockecharlie anticipates accelerated activity and production growth in the basin as its resource potential and reserve life continue to expand.
Reduced refinery production and lower regional inventories due to maintenance...
Reduced refinery production and lower regional inventories due to maintenance work, unplanned outages and seasonal patterns lifted average retail prices for gasoline and diesel in February and early March, a trend that is expected to continue for gasoline, according to the Energy Information Administration. The Gulf Coast area has been the main driver of the 11% decline in US refinery utilization since January.
The U.S. Constitution spells it out clearly in Article II, Section 3:...
The U.S. Constitution spells it out clearly in Article II, Section 3: The president “shall from time to time give to the Congress information of the state of the union, and recommend to their consideration such measures as he shall judge necessary and expedient.”
Last night, President Joe Biden delivered the State of the Union address; key moments include plans to create a temporary port in Gaza for aid delivery and man escorted out for heckling (More) | Alabama Sen. Katie Britt (R) provides rebuttal; see highlights (More) | Centrist No Labels group expected today to vote to plan a third-party presidential bid; no candidates revealed as of yet (More)
Markets: Thank you, Jerome. Stocks surged yesterday, once again pushing the S&P 500 and Nasdaq to record highs, after Fed Chair Jerome Powell said he expects interest rates to come down this year. Now, investors await today’s big jobs report to see if the good times can keep rolling. It was also a big day for Rivian, which zoomed 13% after it revealed three new vehicles.
Novo Nordisk said its new weight loss drug could be even more effective than Wegovy.
Sailor Cole Brauer became the first American woman to race solo around the world.
Applebee’s and IHOP are launching co-branded locations, because the combination Pizza Hut–Taco Bells were not enough.
Amazon is reportedly halting the launch of online storefronts in Switzerland, Ireland, and other countries in an effort to rein in costs.
TikTok users inundated the offices of House GOP members with phone calls over concerns that they could soon ban the app.
(Thursday market close) AI- and semiconductor-driven...
(Thursday market close) AI- and semiconductor-driven momentum continued to buoy Wall Street Thursday, fueling a broad market rally that lifted the S&P 500® index (SPX) to its 16th record high close of the year. The Nasdaq Composite® (COMP) also hit a record high one day ahead of the Labor Department's monthly Nonfarm PayrollsReport.
Ongoing optimism over receding inflation and expectations for Federal Reserve interest rate cuts also underpinned stock prices, even as the central bank's leader, Jerome Powell, sounded a cautious note in Congressional testimony this week. Friday's February payrolls report looms as the next major key to market direction.
"All eyes are on Friday's payrolls report," said Cooper Howard, director of fixed income strategy at the Schwab Center for Financial Research. Analysts estimate payrolls grew about 200,000 during February, which would be down from January's stronger-than-expected 353,000 surge but still considered a solid performance. Here's where the major benchmarks ended:
The S&P 500 index rallied 52.60 points (1.0%) to 5,157.36; the Dow Jones Industrial Average gained 130.30 points (0.3%) to 38,791.35; the Nasdaq Composite climbed 241.83 points (1.5%) to 16,273.38.
The 10-year Treasury note yield (TNX) lost almost 2 basis points to 4.085%.
The CboeVolatility Index® (VIX) fell 0.06 to 14.44.
