Owners of US Shale Producer Enduring Resources IV Explore $4 Billion Sale, Sources Say

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(Reuters) – The private equity backers of Enduring Resources IV are weighing a sale of the oil-focused producer, which operates in Colorado and New Mexico, in a deal that could value the company at more than $4 billion including debt, people familiar with the matter said. Ownership led by EnCap Investments is working with investment …

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Panama Canal to Name Shortlisted Bidders for Terminal Project by Year-End

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(Reuters) – The Panama Canal expects to announce the pre-qualified bidders for a new container terminal project by the end of this year, Administrator Ilya Espino said on Wednesday, advancing a tender process linked to one of the world’s most strategic trade corridors. Speaking at an event in Houston, Espino said the canal authority has …

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SM Energy May Shift Drilling in Early 2027 Amid Uinta Basin Constraints

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(Reuters) – Oil and gas producer SM Energy said on Wednesday it may temporarily shift drilling away from Utah’s Uinta Basin in early 2027, as takeaway constraints continue to limit production. The basin is rich in oil and gas reserves but crude produced there requires specialized transportation, limiting takeaway capacity. A planned expansion of a …

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World Stocks Rally as Investors Expect More Political Certainty After Democrats’ Win

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(Reuters) – Global stocks rallied on Wednesday after Democrats seized control of both chambers of Congress in the US midterm elections, providing greater political clarity and reducing the uncertainty that has weighed on markets. In a major setback to President Donald Trump, Democrats scored sweeping victories in Republican strongholds for the first time in generations. …

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US Crude Stocks, Gasoline and Distillate Inventories Fall – EIA

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(Reuters) – U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 865,000 barrels to 409.8 million barrels in the week ended October 30, the EIA said, compared with analysts’ expectations in a Reuters poll for a 877,000-barrel rise. Crude stocks at the Cushing, …

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Energy Sector Falls as Democratic Sweep Dents Iran War Risk Premium

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(Updates) S&P 500 Energy Sector declines 3%, with oil prices falling 2.5% Democrats capture control of the US Congress from President Donald Trump’s Republicans in the midterm elections, denting the risk premium for a further escalation of the ongoing war with Iran Brent futures down 2.54% at $100.97/bbl, while US West Texas Intermediate crude futures …

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Trump’s Midterm Trouncing Underscores Inflation’s Political Poison: McGeever

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(Reuters) – The crushing defeat suffered by US President Donald Trump’s Republican Party in the midterm elections is a reminder of just how politically toxic inflation is. Former President Joe Biden learned that lesson two years ago, and it was the Republican Party’s turn on Tuesday, as the Democrats raced to a “clean sweep” victory, …

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JPMorgan, HSBC Say Oil Supplies are Recovering From Middle East Disruption

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(Reuters) – The global oil market has moved back into surplus after months of disruption caused by US-Israeli war with Iran, JPMorgan said in a note on Wednesday, while HSBC raised its forecasts for Saudi Aramco crude oil production. JPMorgan estimates the global oil market returned to a surplus of 1.1 million barrels per day …

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