Goldman Sachs expects home prices will fall in 39% of U.S. cities next year
The U.S. housing market has ...
The U.S. housing market has cooled this year as mortgage rates surge and record home-price appreciation sidelines more buyers.
And economists now expect this slowdown to result in lower prices in nearly half of markets across the country next year.
“While we think national home prices will likely avoid a correction in 2023, we expect 39% of metropolitan areas to experience price declines,” analysts from Goldman Sachs’ Global Investment Research wrote in a report this week.
US Oil, Gas Rig Count Falls to Lowest Since Late July
U.S. energy firms this week cut the number of oil and natural gas rigs operating to the lowest since...
U.S. energy firms this week cut the number of oil and natural gas rigs operating to the lowest since late July as the growth in the rig count and production has slowed despite relatively high energy prices.
The TOTAL U.S. oil and gas rig count, an early indicator of future output, fell by one to 759 in the week to Sept. 9, down for the fifth week in six. Despite the decline, the total rig count was still up 256, or 51%, over this time last year.
U.S. oil rigsfell five to 591 this week, their lowest since mid-June, while gas rigsrose four to 166, their highest since August 2019.
With oil prices up about 16% so far this year after soaring 55% in 2021, the total rig count fell in August after rising for a record 24 months in a row.
Williams snaps up Texas midstream assets in $423M deal
Pipeline operator Williams has reached a deal to acquire midstream company NorTex Midstream from an affiliate...
Pipeline operator Williams has reached a deal to acquire midstream company NorTex Midstream from an affiliate of Tailwater Capital for $423 million. The transaction adds 80 miles of natural gas transmission pipelines and 36 billion cubic feet of gas storage in North Texas to Williams' portfolio.
Oil futures end higher for the session, modestly lower for the week
Oil futures finished...
Oil futures finished higher on Friday, with supply concerns helping prices pare their loss for the week. Still, "lately it has been mostly bad news for oil prices as demand concerns worsened given China's deteriorating COVID situation, a surprise jump in stockpiles, and on expectations world leaders will continue to exhaust emergency measures to send energy prices lower," said Edward Moya, senior market analyst at OANDA. October WTI crude CLV22, +3.06% climbed $3.25, or 3.9%, to settle at $86.79 a barrel on the New York Mercantile Exchange, with front-month prices down about 0.1% for the week, according to Dow Jones Market Data.
