Sunday, January 5, 2025
Energy stock bulls hit pause as recession looms- oil and gas 360

Energy stock bulls hit pause as recession looms

Nasdaq MILAN – After two straight record-breaking years, investors that profited from booming oil stocks are now betting on a temporary retreat, as recession threatens economies in the United States and Europe.   A gauge of global energy stocks .dMIWO0EN00PUS is set to rise over 35% for a second year in a surge that has propelled Exxon Mobil’s stock XOM.N to lifetime highs and

These cashed-up Canadian oil producers are set to outperform in 2023- oil and gas 360

These cashed-up Canadian oil producers are set to outperform in 2023

Oil Price The U.S. energy sector has enjoyed bumper profits in the current year, with Big Oil companies setting records left, right and center. And Wall Street is saying the party is set to continue in the coming year. According to a recent Moody’s research report, U.S. industry earnings will stabilize overall in 2023, but remain relatively high.   The analysts

Chevron to create JV for U.S. geothermal projects- oil and gas 360

Chevron to create JV for U.S. geothermal projects

Yahoo Finance Chevron Corp is forming a joint venture with Swedish investment and development firm Baseload Capital to develop geothermal projects in the United States, the companies said on Wednesday.   Geothermal energy, which taps into heat within the earth, currently makes up less than 1% of the U.S. energy mix. If harnessed, it could produce 8.5% of all electricity

Oil slips back below $80 as U.S. crude stock build stirs doubts on demand- oil and gas 360

Oil slips back below $80 as U.S. crude stock build stirs doubts on demand

Yahoo Finance LONDON – Oil prices rose on Wednesday after OPEC and the International Energy Agency (IEA) both forecast a rebound in demand over the course of next year and as U.S. rate hikes are expected to ease alongside slowing inflation. Brent crude futures rose $1.31, or 1.6%, to $81.99 per barrel by 1421 GMT, while U.S. West Texas Intermediate

Keystone oil spill cleanup expected to last weeks- oil and gas 360

Keystone oil spill cleanup expected to last weeks

Energy Now Cleanup of the biggest U.S. oil spill in nearly a decade will take at least weeks more, local officials in Kansas said on Tuesday, citing a recent meeting with Keystone pipeline owner TC Energy Corp (TRP.TO). There is still no official timeline for a restart of the key Canada-U.S. pipeline, which was closed after the spill of roughly

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories increase by 10.2 million barrels

Weekly Crude Oil Storage as of December 9, 2022     U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 10.2 million barrels from the previous week.  At 424.1 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year, according to the EIA crude oil and