The government in Turkmenistan has announced that it plans to close the Gates of Hell. The burning gas crater has been on...
By: Shariq Khan – Reuters – Unit Corporation, one of the top U.S. natural gas producers, has hired an investment bank for...
By: Shariq Khan – Reuters – Chesapeake Energy Corp (CHK.O) is in advanced talks to acquire privately-owned natural gas producer Chief Oil...
By: Haley Zaremba – OilPrice – As we kick off the new year, the race is on to predict the course that...
The crude oil market has already gained 10 percent since the start of the year and has further to go, Vitol’s head...
Over the past three years, dozens of cities across the country have banned natural gas hookups in newly constructed buildings as part...
By: Irina Slav – OilPrice.com – Oil is about to post its fourth week of gains in a row, and the outlook...
By: Timothy Gardner and Nidhi Verma – Reuters – China will release crude oil from its national strategic stockpiles around the Lunar...
The European gas crunch has been hogging headlines for months now, and with good reason – the continent is still struggling to...
By: Rystad Energy – Global oil and gas investments will expand by $26 billion this year as the industry continues its protracted...
U.S. stocks finished higher on Wednesday, with the S&P 500 and Nasdaq Composite scoring their fifth consecutive trading day of gains after a mild July consumer-price index reinforced expectations for a September rate cut by the Federal Reserve.
Based on preliminary data, the Dow Jones Industrial Average closed up by 242.75 points, 0.6%, at 40,008.39. It was the index's second straight session of gains.
The S&P 500 closed up by 20.78 points, or 0.4%, at 5,455.21.
The Nasdaq Composite eked out a slight gain in the final minutes of trading to finish higher by 4.99 points at 17,192.60.
"July’s inflation data was remarkably as expected," said BMO Capital Markets rates strategists Ian Lyngen and Vail Hartman. "Had the Fed not already set the stage for a cut in September, this CPI print would have solidified one."
Inflation has cooled considerably over the past year, but there are still a few hot spots. The biggest is the cost of shelter - rent and housing. It accounted for about 90% of the increase in the consumer price index in July.
Still, the report is unlikely to prevent the Federal Reserve from reducing interest rates in September as widely expected.
The big question for investors is whether it will be a 1/4-point cut or a larger 1/2-point reduction. The July CPI probably doesn't settle the question.
For now, betting markets suggest a smaller cut is more likely.
Story by Bloomberg, via RigZone.com |Authors: J.Saul, N.S.Malik, M.Chediak| Energy companies in the US are...
In a recent interview with Bloomberg, Wil Vanloh, CEO of Quantum Energy Partners, shared...
By Lucia Kassai and Devika Krishna Kumar |Bloomberg)– Oil storage tanks at a key US...
A Spanish infrastructure company, Redexis, has reached a significant milestone for Spain’s energy industry....
Landowners in Arkansas are calling on the Arkansas Oil and Gas Commission to reject...
Story By Jonathan Leake | The Telegraph | Analysts have warned that Labour’s tax...
A federal judge has hit the pause button on new oil and gas drilling...
Story By Andreas Exarheas |Rigzone.com| The U.S. Energy Information Administration’s (EIA) latest gasoline and...
By David Wethe | (Bloomberg) — The price to rent a deepwater drilling rig may...
Chevron CEO Michael Wirth recently criticized U.S. President Joe Biden’s administration for policies that...
Voyager Midstream Holdings, a portfolio company of Pearl Energy Investments, has announced the acquisition...
A small group of California Republicans has introduced several bills ahead of a special...
Have your oil & gas questions answered by industry experts.