fall – Oil & Gas 360

Dominion Energy posts fall in second-quarter profit on higher expenses

August 1, 2024

U.S. News Dominion Energy posted a fall in second-quarter profit on Thursday, as higher interest and maintenance costs weighed on the electric utility. Higher-for-longer interest rates continue to weigh on the utilities sector, making dividend-paying stocks such as REITs and utilities less attractive and driving up borrowing costs. The company’s interest expenses rose to $469 million in the second quarter,

Oil prices fall amid flurry of weak European economic data

October 24, 2023

CNBC Oil prices fell on Tuesday for the third straight session, after a flurry of slow economic data from Germany, the euro zone and Britain that weighed on the outlook for energy demand. Brent crude futures were down $1.76, or 2%, at $88.07 a barrel. U.S. West Texas Intermediate crude futures were down $1.91, or 2.2%, at $83.58 a barrel. Euro

LNG shipping rates fall to a 7-month low as gas prices drop

March 23, 2023

Oil Price LNG freight rates for Atlantic Basin spot LNG cargoes slid to below $50,000 per day on Thursday, the lowest level in over seven months, as natural gas prices in Europe drop with peak winter demand behind us. The Spark30S Atlantic LNG freight rates, assessed by Spark Commodities, slid to below $50,000 per day today and were down

Oil prices fall as SVB collapse spooks financial markets

March 14, 2023

BOE Report Oil prices fell more than $1 on Tuesday, extending the previous day’s slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis. U.S. West Texas Intermediate crude futures (WTI) dropped $1.72, or 2.30%, to $72.92 a barrel. Brent crude futures were down $1.57, or 1.95%, at $79.12 a

Oil prices fall on recession worries, but supply cuts support

October 14, 2022

Nasdaq RIYADH – Neither side is backing down in a battle of wills over oil between Saudi Arabia’s Crown Prince and U.S. President Joe Biden, putting severe strain on their countries’ energy-for-security alliance, although a full rupture looks unlikely, Gulf sources and experts said. As de facto leader of the OPEC+ oil group, Saudi Arabia risked U.S. wrath when

Upstream mergers and acquisitions fall to $12 billion during ‘challenging quarter’

July 14, 2022

World Oil Enverus Intelligence Research (EIR), a subsidiary of Enverus, an energy data analytics and SaaS technology company, is releasing its summary of Q2 2022 upstream M&A. Overall, Q2 was a challenging quarter for negotiating deals as volatility roiled both commodity and equity markets. Despite that, about $12 billion was transacted in upstream M&A as numerous private equity (PE) firms

Oil prices fall as recession fears trump tight supply

June 20, 2022

Investing Oil prices fell as much as 3% on Wednesday after the Federal Reserve imposed in its biggest U.S. rate since the 1990s, adding to fears that the central bank will push the world’s largest economy into a recession in its bid to fight inflation ramping at 40-year highs. President Joe Biden added to oil market jitters by calling on

Oil prices fall, weighed down by dollar, China lockdowns

May 9, 2022

CNBC Oil prices slipped on Monday alongside equities and was weighed down by a strong dollar and demand concerns on the back of continued coronavirus lockdowns in China, the world top oil importer. Brent crude fell 2.3%, or $2.61, to $109.78 per barrel. U.S. West Texas Intermediate crude was at $106.87, for a loss of $2.88, or 2.6%. Both contracts have gained

Oil falls to $84 before U.S. inventories and OPEC+ meeting

November 2, 2021

Reuters LONDON – Oil fell further below $85 a barrel on Tuesday, but it was still not far from a three-year high in choppy trade ahead of weekly U.S. supply reports expected to show a rise in crude inventories and of Thursday’s OPEC+ meeting. Analysts in a Reuters poll expect U.S. crude inventories to have increased by 1.6 million barrels

Premium Content