OklahomaMinerals.com

Snippets

• Natural Gas Rises As October Contract Takes Front Stage
  Natural gas prices rose 0.9% to $2.684/mmBtu after the September...
  Natural gas prices rose 0.9% to $2.684/mmBtu after the September delivery contract rolled off the board yesterday, making October the new front-month contract. “It’s fitting new prompt month Oct’23 is currently trading just under $2.70 since prices keep returning to this level the past 2-3 months,” says NatGasWeather.com in a research note. “It will be of great interest how Oct’23 trades the rest of the week but likely volatile due to uncertainty w/Hurricane Idalia, a highly anticipated EIA storage report Thursday to see if last week’s +18 Bcf was real, the potential for hotter/cooler trends, and a much hotter than normal US pattern next week.”
  Read More
• Regulatory hurdles cloud MVP Southgate's future
  As Equitrans prepares to launch the Mountain Valley Pipeline by the end of 2023, analysts are pessimistic...
  As Equitrans prepares to launch the Mountain Valley Pipeline by the end of 2023, analysts are pessimistic about the outlook for the company's 375,000-MMcf/d MVP Southgate extension from Virginia to North Carolina. The project faces regulatory hurdles and competition from Williams' brownfield expansion projects within the Transco pipeline system, which are viewed as a more viable alternative.
  Read More
• ExxonMobil: World unlikely to limit warming to 2°C by 2050
  Carbon emissions from the power sector will likely decline by more than 25% from peak levels in the 2020s...
  Carbon emissions from the power sector will likely decline by more than 25% from peak levels in the 2020s to 25 billion metric tons by 2050, but that won't be enough to limit global warming to 2°C, according to ExxonMobil's annual Energy Outlook report. The Intergovernmental Panel on Climate Change's 2°C scenario calls for emissions to be limited to 11 billion tons by 2050
  Read More
• Closing Oil & Gas Prices for Tuesday
  Benchmark U.S. crude oil for October delivery...
  Benchmark U.S. crude oil for October delivery rose $1.06 to $81.16 a barrel Tuesday. Brent crude for October delivery rose $1.07 to $85.49 a barrel.
  
  Wholesale gasoline for September delivery fell 1 cent to $2.79 a gallon. September heating oil rose 1 cent to $3.21 a gallon. September natural gas fell 2 cents to $2.56 per 1,000 cubic feet.
  
  
  Read More
• Dow gains 300 points as investors react to labor, consumer confidence data
  U.S. stocks finished higher on Tuesday after investors parsed...
  U.S. stocks finished higher on Tuesday after investors parsed signs of a cooling labor market and waning consumer confidence, which could mitigate the need for more interest-rate hikes by the Federal Reserve.
  
  The S&P 500 SPX gained 64.44 points, or 1.5%, to 4,497.67, marking the index’s best day in three months. The Dow Jones Industrial Average DJIA gained 292.96 points, or 0.9%, to 34,852.94. The Nasdaq Composite COMP rose by 238.63 points, or 1.7%, to 13,943.76, rising for a third straight day.
  
  Data showed the number of job openings in July dropped to 8.8 million, lower than the forecast of 9.5 million, a sign that employers have begun to meaningfully cut back on hiring. Meanwhile, 3.5 million people quit their jobs last month, the lowest level in two-and-a-half years. Meanwhile, a gauge of consumer confidence produced by the Conference Board dropped to 106.1 in August, from 114. Investors have recently cheered data suggesting that the U.S. labor market and economy might be starting to slow, a dynamic that market strategists have called “bad news is good news.” The thinking is that a slowdown in the economy’s rate of growth could help the Fed justify cutting interest rates more quickly by helping to curb inflation.
  Read More

• Prev
• Next