In the aftermath of category 5 hurricanes that hit the U.S. and the Caribbean, oil supply and the markets have seen change....
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AMSTERDAM (Reuters) – Oil prices stabilized on Monday after one of the most bearish weeks in months, propped up by OPEC comments...
The number of rigs exploring for oil and natural gas in the U.S. declined by four this week to 936. That’s up...
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The total active U.S. rig count fell by 1 to 935, according to Baker Hughes. That’s still up from the 511 rigs...
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Highlights from Oseberg’s September 11th weekly report on oil and gas activity in Oklahoma: Council Oak Resources stays on top of the leasing...
The total active U.S. rig count, which includes oil and natural-gas rigs, rose by 1 to 944, according to Baker Hughes. Baker...
Brent climbed above $72 a barrel after tumbling more than 6% over the previous two sessions, and West Texas Intermediate surpassed $68. While one Israeli minister suggested that the war with Hezbollah could be over by year-end, the country’s military chief vowed to strike Iran “very hard” should the OPEC producer launch another attack.
The commodity’s gains were bolstered on Wednesday after data from the ADP Research Institute showed hiring at US companies accelerated by the most in over a year, while Reuters reported that OPEC+ nations could delay plans to revive oil production in December, citing unnamed sources. However, two OPEC+ delegates said that the group hasn't begun discussions yet.
Voters say their most important issue in this presidential election is the economy, and with less than a week until Election Day, they are about to be given a lot of homework. There will be a rush of economic reports dropping before November 5, and you're about to see a lot of data condensed and stripped of context for headlines and speeches.
As if there wasn't enough chaos, the Boeing strike and aftermath of Hurricanes Helene and Milton will likely muddle some of the data. In the final stretch of automated texts asking for $20, here's an economy vibe check: Two new reports released yesterday seemed to signal a positive-but-cooling labor market, while the US government will release its first estimate of last quarter's GDP growth today, which is expected to be a healthy 3%. A report on Thursday measuring personal consumption expenditures is expected to show inflation dropping to 2.1% in September, tantalizingly close to the Fed's 2% goal. The big one on Friday, October's jobs report, will offer a blurry look at the labor market, with an expected 4.1% unemployment rate (the lowest preelection unemployment rate in 24 years) but a sluggish job growth rate because of the strike and hurricanes. It's hard to say whether the deluge of percentage point changes will make a difference to voters, especially in this tight election, as gas prices, which presidents have little control over, are nonetheless near a three-year low.
Oil prices closed slightly lower on Tuesday, adding to a more than 6% drop in the previous session, on a report that Israeli Prime Minister Benjamin Netanyahu will hold a meeting for a diplomatic solution to the war in Lebanon.
Brent crude futures settled down 30 cents, or 0.4%, at $71.12 a barrel, while U.S. West Texas Intermediate crude shed 17 cents, or 0.3%, to $67.21 a barrel.
Netanyahu will hold a meeting on Tuesday evening with Israeli ministers and the heads of the country's military and intelligence community about talks for a diplomatic solution to the war in Lebanon, Axios reporter Barak Ravid said on X, citing two sources.
Iranian Foreign Ministry spokesperson Esmaeil Baghaei said on Monday that Iran will "use all available tools" to respond to Israel's weekend attack.
Meanwhile, declining oil demand from China, the world's largest crude oil importer, remains a drag on global oil consumption and prices.
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By Alejandra Martinez | The Texas Tribune | FORT WORTH — Republican Christi Craddick cruised...
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U.S. natural gas production from shale and tight formations, which accounts for 79% of dry...
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