MarketWatch: After a wild week on Wall Street, stock futures slump Sunday
After a volatile week, Wall Street is bracing for more losses as U.S. stock-index futures fell...
After a volatile week, Wall Street is bracing for more losses as U.S. stock-index futures fell sharply late Sunday.
Dow Jones Industrial Average futures YM00, -1.16% were last down more than 300 points, while S&P 500 futures ES00, -1.26% and Nasdaq-100 futures NQ00, -1.26% were each off around 1%.
US Drillers Add Oil and Gas Rigs for Seventh Week in a Row
U.S. energy firms last week added oil and natural gas rigs for a seventh week in a row...
U.S. energy firms last week added oil and natural gas rigs for a seventh week in a row amid high prices and prodding by the government, although most shale producers were prioritizing shareholder returns over new spending on production.
The oil and gas rig count, an early indicator of future output, rose seven to 705 in the week to May 6, its highest since March 2020, energy services firm Baker Hughes Co said in its closely followed report on May 6.
Baker Hughes said that puts the total rig count up 257, or 57%, over this time last year.
U.S. oil rigs rose five to 557 this week, their highest since April 2020, while gas rigs gained two to 146, their highest since September 2019.
FROM OK ENERGY TODAY: As the week starts, oil investors and analysts wonder whether...
FROM OK ENERGY TODAY: As the week starts, oil investors and analysts wonder whether prices will manage to post a third consecutive week of increases as Europe seriously considers sanctions on Russian oil.
On Friday, prices went up 1.5% as traders shrugged off worries about global economic growth.
West Texas Intermediate crude for June delivery rose 1.4% or $1.51 and closed at $109.77 a barrel on the New York Mercantile Exchange. For the week, WTI gained nearly 5%.
Global benchmark Brent for July delivery crude rose $1.49 or 1.3% and settled at $112.39 a barrel on ICE Futures Europe. Brent gained about 4% for the week.
June natural gas fell 74 cents to $8.04 per 1,000 cubic feet.
