In a pivotal move that reshapes the landscape of the midstream oil and gas sector, Sunoco LP has announced its agreement to...
STORY BY: Andreas Exarheas |RigZone| The militaries of the U.S. and UK – at the direction of their respective governments, with support...
In a move that could redefine corporate climate accountability, Exxon Mobil Corp has taken unprecedented legal action. The oil giant has filed...
Story By Stephen Rassenfoss | Journal of Petroleum Technology | Oil production in the Bakken did something surprising last year—it grew. Forecasters...
In a significant development impacting the oil and gas industry, Hilcorp San Juan L.P., with operations spanning Aztec, New Mexico, and Houston,...
Story By Andreas Exarheas| RigZone.com | Oil prices have failed to achieve any significant momentum in 2024 yet, either upwards or downwards,...
Shell, a leading player in the global energy sector, has recently initiated a series of layoffs as part of its strategy to...
The United States is witnessing a remarkable phase in its oil production history, achieving record highs in oil output while operating with...
In an era where sustainability and efficiency are paramount, the U.S. oil and gas industry has made significant strides in enhancing production...
The oil and gas industry is set to undergo significant shifts in 2024, driven by a combination of market dynamics, technological advancements,...
(Reuters) - Oil prices settled nearly 2% higher on Friday and notched their first weekly gains since mid-April as a U.S. trade deal with the United Kingdom turned investors optimistic ahead of talks between top officials from Washington and Beijing.
Brent crude futures rose $1.07, or 1.7%, to settle at $63.91 a barrel, while U.S. West Texas Intermediate crude futures advanced $1.11, or about 1.9%, to settle at $61.02.
Week-over-week, both benchmarks gained over 4%.
U.S. President Donald Trump on Friday said China should open its market to the U.S., and that an 80% tariff on Chinese goods "seems right," a day after he announced a deal lowering tariffs on British car and steel exports, among other agreements with the United Kingdom.
"Energy markets - as bearish as they've been - are finally shaking off some of the pessimism and catching the broader market optimism that's showing back up as progress on trade relationships has begun," said Alex Hodes, oil analyst at brokerage StoneX.
The U.S. stock market closed mostly lower on Friday, as investors looked ahead to trade talks expected between the U.S. and China on Saturday.
The Dow Jones Industrial Average fell 119.07 points, 0.3%, to finish at 41,249.38.
The S&P 500 slipped 4.03 points, 0.1%, to end at 5,659.91.
The Nasdaq Composite edged up 0.78 point to close virtually flat at 17,928.92.
All three major benchmarks saw modest weekly declines, as investors weighed the Federal Reserve’s policy decision on May 7 to leave its benchmark interest rate unchanged amid tariff uncertainty. Treasury Secretary Scott Bessent indicated earlier this week that he will meet with a representative from China in Switzerland on Saturday to discuss trade, with investors watching for signs that the U.S.'s 145% levy on goods imported from China may be lowered amid concerns that large tariffs will hurt the U.S. economy.
For the week, the Dow shed 0.2%, the S&P 500 fell 0.5% and the technology-heavy Nasdaq retreated 0.3%. Each index snapped back-to-back weekly gains.
Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
Trying to catch up in oil and gas production is difficult enough. It becomes...
Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
Author Mark Davidson, Washington|Editor–Everett Wheeler|Energy Intelligence Group| The number of active US gas rigs...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
Fossil fuel financing by Wall Street’s leading banks has declined sharply in 2025, highlighting...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
Mexico’s energy story has turned again. After years of political resistance to hydraulic fracturing,...
The race to lower costs and accelerate production timelines in the Permian Basin has...
˃ Financing from the six largest Wall Street banks for oil, gas, and coal...
Have your oil & gas questions answered by industry experts.