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By: Reuters – A U.S. jury has convicted two Texas men of trying to sell Iranian petroleum in violation of sanctions imposed...
By: S&P Global – Rising natural gas-to-oil ratios will continue to support gas production in the US’ Bakken Shale, Oneok executives said....
Story By Arathy Somasekhar HOUSTON, (Reuters) – U.S. oil pipeline and export terminal operators are stepping up quality checks on WTI Midland...
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Energy stocks opened higher, led by a small rebound in oil prices, and despite fairly sizeable losses in the broader equity benchmark futures prices. Equities are set to continue yesterday’s sell-off, as a more hawkish than expected tone struck by Fed Chair Jerome Powell signaled that rates will remain higher for longer. News flow is beginning to slow as quarter-end nears and quiet periods ahead of earnings approach.
Oil prices fell on Thursday, after posting the largest decline in a month in the previous session, as the U.S. Federal Reserve held rates but signaled potential future hikes, offsetting the impact of drawdowns in U.S. crude stockpiles. Energy markets reacted little to data from the EIA on Wednesday showing crude inventories fell in line with expectations last week, with some analysts saying the 2.14 million barrel decline versus an expected 5.25 million barrel draw was smaller than they expected.
Natural gas futures are lower by 1% on cooler-than-expected season temperatures, while weekly inventory data is expected to show a build of 67 bcf.
🛢Low growth, high #inflation: Europe will suffer the most from oil shortages
The OECD in its new forecast increased US GDP growth, and for the Eurozone, on the contrary, reduced it to 0.6% this year and 1.1% next year, #Bloomberg notes. The situation on the fuel market will… pic.twitter.com/vrj465ykVL
— Christian Reuel (@ChristianReuel_) September 21, 2023
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