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Power producers in the United States are becoming increasingly reliant on natural gas for generation, even as the country builds out renewable energy capacity at a record pace. Renewable energy sources have been grabbing a steadily growing share of the power mix for years, which has allowed power firms to cut coal-fired power and reduce …
Natural Gas Shows Its Staying Power as U.S. Wind Output Slumps: Maguire Read More »
(Reuters) – Oil futures fell about 1.5% on Friday, finishing the week lower on declining Chinese demand and hopes of a Gaza ceasefire agreement that could ease Middle East tensions and accompanying supply concerns. Brent crude settled down $1.24, or 1.5%, at $81.13 a barrel. West Texas Intermediate crude ended $1.12, or 1.4%, lower at $77.16 …
Oil Falls 1.5%, Ends Week Lower on China Demand Fears Read More »
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row, boosting the monthly count by the most since November 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose …
A Donald Trump presidency could be net bearish for oil prices due to a combination of factors including tariffs and oil-friendly policies, and pushing the Organization of the Petroleum Exporting Countries and allies (OPEC+) to release more oil into the market, Citi said in a research note on Thursday. “Trump could roll back environmental policies, …
A Trump Presidency to Pose Mostly Bearish Risks for Oil, Citi Says Read More »
(Reuters) – Oil prices fell on Thursday on mixed demand signals a day after large draws on U.S. inventories while consumption in China, the world’s largest crude importer, remains lacklustre. Brent crude futures for September fell 74 cents, or 0.9%, to $80.97 a barrel by 0855 GMT. U.S. West Texas Intermediate crude for September slid …
(Reuters) Democratic U.S. lawmakers on Wednesday introduced a bill to hold energy companies accountable if they are found by federal regulators to have colluded with the Organization of the Petroleum Exporting Countries to raise oil prices. The bill, introduced by Senator Edward Markey and Representative Nanette Barragan, says that if any energy company is found by …
U.S. Democrats Launch Bill Holding Oil Firms Accountable for Any Work with OPEC Read More »
(Reuters) – Oil prices edged higher on Wednesday but were still close to their lowest level in six weeks with few signs of the fuel consumption surge usually seen at this stage of the northern hemisphere summer. Still, prices snapped three straight sessions of decline on falling U.S. crude inventories and growing supply risks from …
*Mega-mergers lead to reduced work for oilfield services companies*Smaller firms with older tech forced to lower prices to stay competitive *Mergers rise as service companies struggle to maintain customer base By Georgina McCartney HOUSTON, July 24 – A wave of mega-mergers among oil producers is forcing the U.S. service companies that drill and hydraulically fracture …
U.S. Oilfield Firms Slash Prices as Mega-Mergers Shrink Customer Base Read More »
A look at the day ahead in U.S. and global markets from Mike Dolan U.S. President Joe Biden’s weekend withdrawal from the White House race can hardly be seen as a big surprise, but it adds some doubts to market bets that Republican challenger Donald Trump is a shoo-in in November’s election.After a turbulent few …
Perspective: Biden Bows Out, Election Bets Shift, China Cuts Read More »
The U.S. Federal Reserve is due to review policy next on July 30-31, when investors expect it to keep rates unchanged, though there have been indications that a cut will happen at the September meeting. News that President Biden decided on Sunday to abandon his re-election bid was not a major factor for oil markets. He has endorsed Vice …
Oil Prices Stable After Biden Exit While Rate Outlook Remains in Focus Read More »
