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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...
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Inflation ticked up slightly on an annual basis in October, the latest evidence that while cost increases were coming under control, they were not entirely vanquished.
The Consumer Price Index, released on Wednesday, climbed 2.6 percent from a year earlier, higher than September’s 2.4 percent. And after food and fuel prices were stripped out to give a better sense of the underlying inflation trend, “core” inflation held steady at 3.3 percent.
WTI crude oil prices remained near their November lows, trading around $68.39 per barrel Wednesday morning, as bearish market factors capped any gains during yesterday's session. In the physical market, indicators suggest a supply glut is emerging sooner than expected, while the futures market is displaying signs of oversupply. Additionally, OPEC reduced its demand growth forecasts for the fourth consecutive month, and the strong US dollar made commodities priced in the currency less attractive.
Despite some activity in the physical market supporting the Dated Brent benchmark, the overall outlook for oil remains weak. Global supply is expected to outpace demand next year, and China's latest economic measures fell short of direct stimulus while inflation remains subdued. Traders continue to monitor tensions in the Middle East, the possibility of a second Trump presidency, and OPEC+ production decisions, all of which contribute to the choppy trading environment in the mid-$60s to mid-$70s range.
The Western Anadarko Basin in Oklahoma has long been a cornerstone of U.S. oil...
Story by Adam Kemp |PBS News| When Rhiannon Kymer opened the doors of her...
Brazil’s government has officially approved joining OPEC+, the coalition of major oil-exporting nations, marking...
The Trump administration has taken another step toward expanding American crude oil production and...
Diamondback Energy has announced a $4.08 billion cash-and-stock acquisition of select subsidiaries of Double...
Investing.com |The Energy Information Administration (EIA) has released its latest Natural Gas Storage report,...
In a decisive move reflecting the current administration’s energy priorities, the Senate voted 54-44...
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by Zack Budryk | The HILL | The Environmental Protection Agency (EPA) will proceed with...
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By Georgina McCartney | HOUSTON (Reuters) – Two large earthquakes that hit the Permian...
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