US Drillers Add Oil, Gas Rigs for First Time in Seven Weeks
U.S. energy firms this week added oil and natural gas rigs for the first...
U.S. energy firms this week added oil and natural gas rigs for the first time in seven weeks, energy services firm Baker Hughes said in its closely followed report on Sept. 5.
The total oil and gas rig count, an early indicator of future output, rose by one to 537 in the week to Sept. 5.
Despite this week's rig increase, Baker Hughes said the total count was still down 45 rigs, or 7.7%, below this time last year.
Baker Hughes said oil rigs rose by two to 414 this week, while gas rigs fell by one to 118.
U.S. stocks lose ground Friday after anemic employment-growth data
The U.S. stock market closed lower Friday, with...
The U.S. stock market closed lower Friday, with all three major benchmarks finishing in the red after a highly anticipated jobs report was weaker than Wall Street expected.
The Dow Jones Industrial Average fell 220.43 points, or 0.5%, to end at 45,400.86.
The S&P 500 shed 20.58 points, or 0.3%, to finish at 6,481.50.
The Nasdaq Composite slipped 7.31 points, or less than 0.1%, to close nearly flat at 21,700.39.
U.S. Job Growth Stalls Ahead of Pivotal Fed Meeting
Employers added only 22,000 jobs in August, and the unemployment rate...
Employers added only 22,000 jobs in August, and the unemployment rate rose slightly to 4.3 percent. Revised data also showed that employment fell by 13,000 jobs in June, the first net loss since December 2020.
Analyst reactions are coming in, and they are dour. “August’s Employment Report confirmed that the labor market has headed off a cliff-edge,” wrote Bradley Saunders, a North America economist for Capital Economics. “The labor market is losing lift, and August’s report, along with downward revisions, suggests we’re heading into turbulence without the soft landing achieved,” wrote Daniel Zhao, an economist with the employment review website Glassdoor.
Natural Gas Storage Sees Slight Increase, Exceeding Forecasts
The latest report on Natural Gas Storage from the Energy Information...
The latest report on Natural Gas Storage from the Energy Information Administration (EIA) has revealed a slight increase in the number of cubic feet of natural gas held in underground storage over the past week.
The U.S. saw a 55 Bcf increase in natural gas storage levels for the week ending Aug. 29, according to the EIA report. The market consensus ranged from 45 Bcf to 61 Bcf, according to a report from Natural Gas Intelligence.
The two injections over the previous two weeks hit 13 Bcf and 18 Bcf, both hitting below market expectations. Overall, natural gas storage levels are an estimated 3.272 Tcf, about 70 Bcf less than the same time last year.
Rio Grande LNG Train 5 commercialization gains momentum
NextDecade has signed a 20-year agreement to supply EQT with 1.65 million...
NextDecade has signed a 20-year agreement to supply EQT with 1.65 million short tons per year of LNG from Train 5 of its Rio Grande LNG project in Brownsville, Texas, contingent on a final investment decision in late 2025. The deal builds on earlier offtake agreements with JERA, Aramco and TotalEnergies, as NextDecade pushes ahead with additional trains that could make the site one of the world's largest LNG export facilities.
