S&P Global – After years of punishment as the shale gas boom imploded, many shale gas stocks outperformed major indexes and their...
RigZone.com. By Andreas Exarheas – Pacific Drilling S.A. (OTC: PACDQ) has announced that the United States Bankruptcy Court for the Southern District...
By: J. Robinson – S&P Global Platts – A steep drop in Permian gas production this year is driving a significant shift...
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By: Camille Erickson – Casper Star-Tribune – An oil and gas lease sale held last week in Wyoming by the Bureau of...
By: Storme Jones – News On 6 – The Seminole Nation of Oklahoma sent energy companies within tribal boundaries a letter notifying...
By: Judith Kohler – The Denver Post – SandRidge Energy is selling its operations in Colorado’s North Park for $47 million to Gondola...
By: Arunima Jumar – Reuters – U.S. oil refiner Phillips 66 on Monday set its 2021 capital budget at $1.7 billion, around...
By: Jude Clemente – Forbes – For the U.S. oil & gas industry, the struggle through Covid-19 might just be the “most unique...
By: Kevin Crowley and Sergio Chapa – Bloomberg – Texas’s main oil regulator has been prohibited from waiving environmental rules and fees,...
U.S. stocks ended higher on Monday, building on last week's gains.
According to Dow Jones Market Data, the Dow Jones Industrial Average climbed 236.77 points, or 0.6%, to end at 40,896.53 for its fifth straight daily gain.
The S&P 500 gained 54.00 points, or 1%, to 5,608.25 for its eighth straight daily gain — logging its longest winning streak since November 8, 2023, when the market rose for eight straight trading days. The index also notched its largest eight-day percentage gain since March 24, 2022.
The Nasdaq Composite rose 245.05 points, or 1.4%, to finish at 17,876.77 for its eighth straight daily gain — recording its longest winning streak since December 19, 2023, when the market rose for nine straight trading days. The index also exited correction territory on Monday after only 11 trading days, the shortest correction for the index since the one ending October 11, 2011, which lasted six trading days.
Based on data since 1971, the Nasdaq Composite saw an average gain of 0.3% in the week after exiting correction territory and an average rise of 23.6% one year after such a move.
Market watchers widely expect Federal Reserve Chair Jerome Powell to set the tone for a September interest-rate cut in his speech at the Kansas City Fed’s annual Jackson Hole Economic Symposium on Friday.
However, if the speech goes differently, it could threaten the stock market’s recent bounce.
Powell is due to speak on the economic outlook at 10 a.m. Eastern time, following a precedent where Fed chairs almost always give a keynote speech during the high-profile annual gathering that regularly attracts top U.S. and global central bankers. The event runs from Aug. 22 to 24 in Grand Teton National Park in Wyoming.
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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...
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A small group of California Republicans has introduced several bills ahead of a special...
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The oil and gas industry is inherently tied to geopolitical events and domestic policy...
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