World Oil (Bloomberg) –Oil output in America’s most prolific shale patch is getting closer to levels seen before the pandemic-driven market crash, as crude prices surge. While total production in the U.S. is still lagging, the Permian Basin of West Texas and New Mexico is increasing output to an average 4.826 million barrels a day in October, according to a
World Oil Energy crisis makes multi-year energy contracts fashionable again. (Bloomberg) –U.S. manufacturers and other large energy users are starting to lock in natural gas and power costs for at least three years or longer to buffer against price surges this winter, a practice that went out of vogue with the shale boom. With gas prices more than doubling from
Reuters U.S. oilfield firm Halliburton Co on Tuesday posted its third consecutive quarterly profit and said customer spending in the United States could jump 20% next year, as stronger oil prices and drilling activity boost demand for services and equipment. Oil prices have rallied to multi-year highs with global crude futures climbing 4.5% in the quarter ended Sept. 30, helped
Nasdaq NEW YORK, Oct 18 – A surge in oil prices is drawing fund managers back into shares of oil and gas companies, even as some remain unsure that the price gains will stick. Energy stocks in the S&P 500 .SPNY are up 53.8% for the year to date compared with a 20.2% gain for the broader index, as rising demand from
World Oil (Bloomberg) –Banks are gradually offering more credit to U.S. shale oil and natural gas producers as the industry recovers from last year’s contraction and energy prices rally. So-called borrowing bases will increase as much as 20% during the imminent round of talks between drillers and lenders, according to most respondents in a survey conducted by law firm Haynes
World Oil (Bloomberg) –Oil continued its advance from the highest close in seven years as the U.S. dollar fell and investors assessed the energy crunch roiling global markets. Futures in New York surpassed $83 a barrel Tuesday, gaining as much as 1.4% from Monday’s settle at the highest since October 2014. Meanwhile, the Bloomberg Dollar Spot index fell 0.4%. Russia
Shares of Enbridge Inc (NYSE:ENB) traded at a new 52-week high today of $43.10. Approxima…
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