NRDC – Montana’s Senator Jon Tester (D) announced today his intent to introduce the Leasing Market Efficiency Act, that would close an oil and...
Janet Wilson and Mark Olalde – Desert Sun – California Resources Corp., the state’s largest oil and gas production company with more...
Rystad Energy – The COVID-19 pandemic has stymied oil and gas activity, a phenomenon that has now affected the drilling market both...
Mike Wittner – The ICE – The world oil market is in the midst of a massive collapse in demand, driven by...
Bethany Blankley – The Center Square – The push to bring more economic development to the Appalachian region of western Pennsylvania, West...
Nathaniel Bullard – Bloomberg – Gas is the future. On Sunday, Virginia-based utility Dominion Energy Inc announced plans to sell almost all of...
TIME – The U.S. Supreme Court handed another setback to the Keystone XL oil sands pipeline from Canada on Monday by keeping...
Reuters – Canada’s drilling rig count, a bellwether of the oil and gas industry’s growth, has plummeted far below previous records, raising...
Bloomberg – Dominion Energy Inc., one of the largest utilities in America is starting to turn its back on natural gas. Dominion...
By: David Blackmon – Forbes – Drilling? Consolidation? What Drilling? What consolidation? – The highlights of the quarterly mergers and acquisitions tracking report...
U.S. stocks ended mixed on Monday, as investors continued to digest Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Symposium last Friday. They also awaited Nvidia Corp.'s earnings due Wednesday and new inflation data due Friday.
The Dow Jones Industrial Average went up 65.44 points or 0.2% on Monday to end at 41,240.52, a new record close, according to Dow Jones Market Data. It is the index’s 23rd record close this year.
The S&P 500 fell 17.77 points or 0.3% to finish at 5,616.84.
The Nasdaq Composite traded down 152.03 points or 0.9% to close at 17,725.76.
Crude futures are surging after a weekend flare-up of tensions between Israel and Hezbollah along the Lebanon border, exacerbated today by the Libyan National Army's call for a production shutdown in the country's eastern oilfields amid growing unrest.
Meanwhile, Exxon Mobil took the opportunity to release its annual energy report, where it says that carbon emissions won't drop until 2030, and warns that increased adoption of electric vehicles won't be enough to offset the impact of surging energy demand caused by a rising population. Not unlike the average global temperature, XOM is lingering within range of all-time highs at midday.
U.S. stocks today are mixed, with the Dow Jones Industrials posting a new record high. Weakness in chip stocks today is weighing on the broader market. Stocks have carryover support from last Friday, when Fed Chair Powell said "the time has come for policy to adjust." Also, energy stocks are climbing today, with WTI crude oil up more than +3% at a 1-week high
The EU's Red Sea naval mission says there are no obvious signs of an oil spill from a tanker attacked by Houthis in Yemen on Friday.
But a fire on board the MV Sounion has continued to burn.https://t.co/HfDL1Qg1DY
— DW Europe (@dw_europe) August 26, 2024
The numbers: The Commerce Department said Monday that orders at U.S. factories for long-lasting goods, such as new cars or machinery, jumped 9.9% in July.
Economists had forecast a 4% rise in orders for durable goods — products made to last at least three years.
Orders have risen in five of the last six months. However, they dropped 6.9% in June due to weak aircraft orders.
Excluding the volatile transportation sector, orders were up 0.2% in July after a 0.1% gain in the prior month.
Another measure in the report seen as a bellwether for business investment — core capital-goods orders, which exclude volatile sectors like transportation and defense — slipped 0.1% last month after a 0.5% rise in June.
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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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