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US Oil Producer Continental Resources Drops Fraud Lawsuit Against Rival Hess

(Reuters) – U.S. shale producer Continental Resources has dropped a lawsuit it filed against rival Hess Corp in May, which alleged it was defrauded out of up to $69 million through a series of deals the well operator conducted with its subsidiaries. Continental said that Hess, which operates hundreds of wells in North Dakota, artificially …

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US Refinery Utilization Hits to Highest in Over Two Years, EIA Says

(Reuters) – U.S. utilization of refinery operable capacity rose to 95.5% last week, the highest since June 2023, data from the U.S. Energy Information Administration showed on Wednesday. Refinery utilization in the U.S. Gulf Coast region rose in the week ended July 18 to 96.1%, a one-year high, the data showed. Reporting by Shariq Khan …

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