Storage Injection Meets Expectations; Rebound Rally for Natural Gas Futures Continues
The U.S. Energy Information Administration (EIA) reported a 92 Bcf injection of natural gas into...
The U.S. Energy Information Administration (EIA) reported a 92 Bcf injection of natural gas into storage for the week ended June 10, essentially in line with market expectations. Nymex natural gas futures, already ahead, held comfortably in positive territory after the report.
The print compared with an injection of 28 Bcf during the same week last year and a five-year average injection of 79 Bcf. The July contract closed Thursday up 4.4 cents at $ 7.464/MMBtu, after reaching an intraday high of $8.027.
Benchmark U.S. crude oil for July delivery rose $2.27 to $117.58 a...
Benchmark U.S. crude oil for July delivery rose $2.27 to $117.58 a barrel Thursday. Brent crude for August delivery rose $1.30 to $119.81 a barrel.
Wholesale gasoline for July delivery rose 7 cents to $3.96 a gallon. July heating oil rose 2 cents to $4.57 a gallon. July natural gas rose 4 cents to $7.46 per 1,000 cubic feet.
MarketWatch: Dow finishes down over 700 points, falling back below 30,000 level
Stocks fell sharply Thursday, more than erasing a bounce that followed the Federal Reserve's 75 basis...
Stocks fell sharply Thursday, more than erasing a bounce that followed the Federal Reserve's 75 basis point rate hike in the previous session, with analysts citing intensifying recession fears as global central banks aggressively tighten monetary policy. The Dow Jones Industrial Average DJIA, -2.42% dropped around 739 points, or 2.4%, to end near 29,929, according to preliminary figures, while the S&P 500 SPX, -3.25% shed around 123 points, or 3.2%, to finish near 3,667. The Nasdaq Composite COMP, -4.08% dropped around 454 points, or 3.4%, ending near 10,646.
Academics urge universities to break ties with oil and gas
More than 500 academics have joined the Fossil Free Research campaign to get universities to reject funding...
More than 500 academics have joined the Fossil Free Research campaign to get universities to reject funding from fossil fuel interests. The situation is complicated, in part because schools often need these funding streams for research efforts, but critics argue it hampers schools' ability to research climate issues.
EIA: US crude inventories up for 2nd consecutive week
US crude oil stockpiles added 2 million barrels last week for a second consecutive weekly increase, gasoline...
US crude oil stockpiles added 2 million barrels last week for a second consecutive weekly increase, gasoline supplies fell by 700,000 barrels, while distillate inventories rose by 700,000 barrels, the Energy Information Administration reported. Gasoline and diesel production declined last week even though refining capacity utilization remained elevated, at 94%.
