Benchmark U.S. crude oil for August delivery fell 20 cents to $81.54 per barrel Friday. Brent crude for August delivery rose 2 centsto $86.41 per barrel.
Wholesale gasoline for July delivery fell 2 cents to $2.53 a gallon. July heating oilfell 3 centsto $2.52 a gallon. August natural gasfell 9 cents to $2.60 per 1,000 cubic feet.
U.S. stocks close lower Friday as S&P 500 snaps 3 straight weeks of gains
U.S. stocks closed lower Friday, with the S&P 500 snapping three...
U.S. stocks closed lower Friday, with the S&P 500 snapping three straight weeks of gains.
According to preliminary FactSet data, the Dow Jones Industrial Average closed 0.1% lower, the S&P 500 shed 0.4%, and the Nasdaq Composite fell 0.7%.
For the week, Dow declined 0.1%, the S&P 500 edged down 0.1% and the Nasdaq Composite rose 0.2%, the preliminary data show. All three indexes rose in June, with the S&P 500 finishing the first half of 2024 with a gain of around 14.5%.
2023 US energy output tops consumption, sets new record
US energy production increased by 4% to a record of nearly 103 quadrillion British thermal units, surpassing...
US energy production increased by 4% to a record of nearly 103 quadrillion British thermal units, surpassing consumption by 9 quads, the widest margin in records dating back to 1949, according to the Energy Information Administration. Oil and natural gas were the primary drivers of this increase, with dry gas production reaching 39 quads and crude oil production hitting 27 quads in 2023, both records, the EIA said.
Phillips 66's Rodeo refinery optimizes for renewable fuel
Phillips 66's refinery...
Phillips 66's refinery in Rodeo, Calif., is ready to meet "ample" short-term demand for renewable fuels after completing a billion-dollar conversion that gives it the capacity to produce 50,000 barrels per day of renewable diesel and sustainable aviation fuel. "We're confident placing all those [renewable product] barrels locally. And if there's demand outside of the region, we will surely supply that if the market supports it," said refinery manager Jolie Rhinehart.
Barclays CEO: Finance industry can't ditch O&G overnight
Barclays is moving away from financing oil and gas companies but the...
Barclays is moving away from financing oil and gas companies but the sector will remain relevant for quite some time and banks "cannot go cold turkey" on it, says CEO CS Venkatakrishnan. The finance major recently established a team dedicated to energy transition opportunities and has pledged to stop financing new oil and gas projects directly.
