[Reuters] Iraq’s oil output and capacity may peak following growth of around 25% over the next five years, analysts said, falling short...
From Insider Monkey. In this article, we take a look at the 15 largest oil fields in the world and the size...
WASHINGTON, (Reuters) – It could take years for the United States to refill the Strategic Petroleum Reserve, the energy secretary told lawmakers...
By: CNBC – Nevada’s largest electricity provider has been approved for a $333 million project to develop a natural gas plant north...
By Jerry Bohen, OK Energy Today. The Arkoma Woodford Basin in eastern Oklahoma continues to yield successful wells for Tulsa energy company...
(Reuters) – As U.S. refiners rejigger operations to reflect declining domestic motor fuels demand in the next decade, they will seek to...
By: Natural Gas Intelligence – Saudi Arabia’s state-owned oil producer posted record profits for 2022, up nearly 50% year/year, lifted by soaring...
By: KFOR – The Oklahoma Corporation Commission held a special meeting Monday concerning a proposed senate bill that would change how utility...
By: Reuters – Shipments of refined products from French refinery and depots were blocked on Monday by a 13th day of strike...
Energy Story by Catherine Boudreau, Jacob Zinkula [Business Insider] President Joe Biden can’t quit fossil fuels even though he knows he needs...
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...
Story By Charles Kennedy for Oilprice.com| Refining margins across Asia fell this week to...
A small group of California Republicans has introduced several bills ahead of a special...
Have your oil & gas questions answered by industry experts.