Oil Price U.S. natural gas producers are beginning to reduce drilling and investment as low prices weigh on their returns. Reuters reports that natural gas prices in the U.S. hit the lowest in three and a half year, betraying drillers’ expectations for a rebound this year after last year’s price depression due to ample supply. As a result, they are no longer
Nasdaq U.S. energy firms in February cut the most oil and natural gas rigs in a month since June 2020, with the gas rig count falling to the lowest since April, energy services firm Baker Hughes Co BKR.O said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell seven
Oil Price Hedging is a popular trading strategy frequently used by oil and gas producers, airlines and other heavy consumers of energy commodities to protect themselves against market fluctuations. During times of falling crude prices, oil producers normally use a short hedge to lock in oil prices if they believe prices are likely to go even lower in the future.
Nasdaq DENVER, Feb 8 – As U.S. oil rises toward $100 a barrel, producers in some high-cost shale basins are buying properties and adding rigs and frack crews in places that fell silent when prices crashed early in the pandemic two years ago. Benchmark U.S. prices last week topped $93 a barrel, up around 65% in the last 52 weeks
Reuters U.S. drillers this week added oil and natural gas rigs for the sixth time in seven weeks as demand for energy keeps growing after last year’s coronavirus demand destruction. That rig count increase comes despite oil price declines in six of the past seven weeks. The oil and gas rig count, an early indicator of future output, rose
Reuters U.S. energy firms this week added oil and natural gas rigs for a second week in a row as crude prices rose to their highest since 2018, prompting some drillers to return to the wellpad. The oil and gas rig count, an early indicator of future output, rose nine to 470 in the week to June 18, its highest
Reuters U.S. President Joe Biden’s promised ban on new oil and gas drilling on federal lands would take years to shut off production from top shale drillers because they already have stockpiled permits, according to Reuters interviews with executives. But smaller independent oil drillers without the resources of big corporations were more worried about Biden’s vow to toughen regulations and
CNBC Oil jumped more on Thursday and was on track for its second best week in history as a number of bullish factors supported prices, including U.S. companies cutting production, Saudi Arabia raising its official oil selling price and gasoline demand improving as economies around the world reopen. West Texas Intermediate, the U.S. benchmark, jumped 8%, or $1.91, to trade
CNBC The widow-making collapse in oil prices came to a pause in Asia trade on Thursday, but analysts aren’t convinced that the worst sell-off in oil market history is over yet. “We think that this is the inflection phase,” Goldman Sachs oil analyst Damien Courvalin told CNBC’s “Squawk Box Asia.” “Even though demand may not recover quickly, the production shut-ins
Reuters NEW YORK – President Donald Trump’s plan to fill the U.S. emergency crude oil stockpile has become the centerpiece of his administration’s strategy to shield drillers from a meltdown in energy demand – but company officials and industry groups say the program will not be enough. Trump announced his intention to fill the U.S. Strategic Petroleum Reserve “to the
CNBC Saudi Arabia will be best positioned to weather the impact of an unprecedented collapse in U.S. oil prices, energy analysts told CNBC on Tuesday. It comes at a time when the market is awash with crude, storage tanks are being filled and the coronavirus crisis continues to ravage global demand. On Monday, the May contract for U.S. West Texas Intermediate futures
Reuters WASHINGTON – The Trump administration is seeking to ease a severe cash crunch in the drilling industry by raising loan limits available under a coronavirus stimulus package and by barring lenders from discriminating against drillers, according to Energy Secretary Dan Brouillette. The measures come as oil and gas companies working in shale basins from Texas to Wyoming struggle to
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