OklahomaMinerals.com

Snippets

• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for January delivery...
  Benchmark U.S. crude oil for January delivery rose $1.55 to $76.41 per barrel Tuesday. Brent crude for January delivery rose $1.70 to $81.68 per barrel.
  
  Wholesale gasoline for December delivery rose 5 cents to $2.23 a gallon. December heating oil rose 7 cents to $2.91 a gallon. December natural gas fell 8 cents to $2.71 per 1,000 cubic feet.
  
  
  Read More
• Dow ends about 80 points higher as U.S. bond yields keep falling
  U.S. stocks posted modest gains on Tuesday, resuming a strong...
  U.S. stocks posted modest gains on Tuesday, resuming a strong rally in November that has been propelled by tumbling U.S. bond yields. The Dow Jones Industrial Average DJIA closed up about 83 points, or 0.2%, ending near 35,416, according to preliminary FactSet data. The S&P 500 Index SPX was 0.1% higher, while the Nasdaq Composite Index COMP closed up 0.3%. Equity investors were emboldened after Fed Governor Christopher Waller said on Tuesday that a cooling economy could help bring inflation down to the central bank’s 2% yearly target, even though he also said it’s unclear if more interest rate hikes were warranted. The 10-year Treasury yield TMUBMUSD10Y slipped to 4.335%, its lowest yield in about two months.
  Read More
• Energy Sector Commentary
  The energy sector is off to a mixed to higher start supported by mild gains in the...

  The energy sector is off to a mixed to higher start supported by mild gains in the crude complex while major equity futures steadied this morning as traders look ahead to a fresh round of economic data on housing and consumer confidence.

  
  

  Following three consecutive days of declines, WTI and Brent crude oil futures inched higher this morning and are currently up ~0.20% in early trading, lifted by growing expectations that OPEC+ will decide to extend or even deepen supply cuts at their upcoming meeting, weakness in the dollar and a drop in Kazakh output. Prices however pulled off their highs on rumors that the talks among the OPEC+ members remain difficult and that another delay to the semiannual meeting is possible. Analysts polled by Reuters estimated that the latest round of weekly U.S. supply reports will show crude inventories fell by about 2 million barrels.

  
  

  Natural gas futures extended their slide lower for the third-straight session, continuing to reel on reports showing record output levels and updated forecasts for some milder weather in key consuming regions that could stunt demand.

  Read More
• Stock Market Outlook
  Before the opening bell: US stock futures fall ...
  Before the opening bell: US stock futures fall early Tuesday, as investors await economic data on housing prices and consumer confidence. 
  
  Mixed moves: Asia-Pacific markets were mixed on Tuesday after U.S. stocks fell the day before as traders took a breather following a four-week winning streak for major averages. Oil prices edged down after Qatar said the truce between Israel and Hamas had been extended by two more days. Japan’s Nikkei 225 closed down 0.1%, while Korea’s KOSPI finished up 1.1%. Hong Kong’s Hang Seng Index was down nearly 1% in mid-afternoon trade, while the CSI300, which tracks the biggest mainland-listed blue chips, was almost flat.
  Read More
• UAE might be using UN climate conference for oil deals
  The Gulf country hosting COP28 this week reportedly wanted to kill two birds with one climate summit:...
  The Gulf country hosting COP28 this week reportedly wanted to kill two birds with one climate summit: advancing environmental goals and selling fossil fuels.
  
  COP28 President Sultan Al Jaber, who’s also the head of the Abu Dhabi National Oil Company (Adnoc), allegedly planned to propose energy deals to international leaders involved in the UN conference, according to leaked docs seen by the Centre for Climate Reporting (CCR) and the BBC. His critics are flabbergasted by what seems to be a brazen conflict of interest.
  Read More

• Prev
• Next