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The shares of the developer of liquefied natural gas projects could rally again but do involve risk.
The stock market recovered some lost ground on Tuesday morning, bouncing back from a big loss in Monday's session. The S&P 500 (SNPINDEX: ^GSPC) had gained 20 points to 4,377, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had picked up 108 points to 14,822. Both QuantumScape (NYSE: QS) and Uber Technologies (NYSE: UBER) saw their stocks get a nice lift on Tuesday morning.
LONDON (Reuters) -Oil prices extended gains on Thursday, riding higher on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories as production remains hampered in the Gulf of Mexico after two hurricanes. U.S. West Texas Intermediate (WTI) crude was up 4 cents, or 0.1%, to $72.27 a barrel. Both contracts jumped 2.5% on Wednesday after data from the U.S. Energy Information Administration showed U.S. crude stocks in the week to Sept. 17 fell by 3.5 million barrels to 414 million - the lowest total since October 2018.
These are the energy stocks with the best value, fastest growth, and most momentum for October 2021.
(Bloomberg) -- Oil steadied after a two-day gain, with U.S. crude stockpiles shrinking to the lowest level since 2018, tightening the market as it faces a global energy crunch ahead of the crucial winter demand period.Most Read from BloombergIstanbul Turns Taps on Old Fountains, Joining Global Push for Free DrinksThe Global Housing Market Is Broken, and It’s Dividing Entire CountriesIn Paris, the Wrapped Arc de Triomphe Is a Polarizing PackageHow the Child Care Crisis Became a Global Economic Fi
Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher costs being passed on to their customers. Some companies, including steel producers, fertiliser manufacturers and glass makers, have had to suspend or reduce production in Europe and Asia as a result of spiking energy prices. The UK on Tuesday said it agreed to provide state support to one of the companies to restart production of by-product carbon dioxide, which is used in food production, to avert a supply crunch.
Oil futures rise by more than 2% on Wednesday, finding support after data revealed that U.S. crude inventories declined for a seventh week in a row.
The potential implosion of China's property market and broader economy sent oil prices tumbling at the start of the week
(Bloomberg) -- Trade deficits have been a stubborn feature of the U.S. economy for decades now, but energy has started to buck that trend, helped by burgeoning shipments of liquefied natural gas.Most Read from BloombergThe Global Housing Market Is Broken, and It’s Dividing Entire CountriesIstanbul Turns Taps on Old Fountains, Joining Global Push for Free DrinksIn Paris, the Wrapped Arc de Triomphe Is a Polarizing PackageHow the Child Care Crisis Became a Global Economic FiascoMerkel’s Legacy Com
WASHINGTON (Reuters) -U.S. oil majors Exxon Mobil Corp and Chevron Corp have failed to meet a core transparency standard set by the Extractive Industries Transparency Initiative, a global anti-corruption body on which the companies have board seats, EITI said on Wednesday. Exxon and Chevron have declined to publicly disclose taxes and other payments they have made to governments in the countries where they operate that are not EITI members, the group said in a spreadsheet detailing member company adherence to its standards. Norway-based EITI, founded two decades ago, has about 55 country members.
(Bloomberg) -- Oil advanced after U.S. crude inventories slid to the lowest since October 2018 amid a global energy crunch expected to increase demand. Most Read from BloombergIstanbul Turns Taps on Old Fountains, Joining Global Push for Free DrinksThe Global Housing Market Is Broken, and It’s Dividing Entire CountriesIn Paris, the Wrapped Arc de Triomphe Is a Polarizing PackageHow the Child Care Crisis Became a Global Economic FiascoBerlin Referendum Could Determine the Future of the City’s Hou
The world's leading energy authority has issued a rare public rebuke to Russia over a crunch in gas supplies as fears grow that Moscow is stoking a winter energy crisis across Europe.
European and American oil companies are taking very different approaches to the future of energy. ConocoPhillips (ticker: COP) has made one of the largest deals in energy in the past year, agreeing to buy Royal Dutch Shell ‘s (RDS.B) assets in the Permian Basin for $9.5 billion in cash. Conoco is obtaining roughly 225,000 acres and producing properties in Texas and more than 600 miles of operated crude oil, gas, and water pipelines and infrastructure.
Crude oil markets went back and forth during the trading session on Tuesday as we continue to look for some type of foothold after a couple of days’ worth of selling.
Oil and gas firm Neptune Energy has written to Britain’s energy minister asking for a change in regulation to allow it to produce more domestic gas from its North Sea field amid record gas prices, a letter seen by Reuters showed. Benchmark British gas prices have risen more than 250% this year leading to some shut downs at industrial users and a possible knock-on effect on food supplies in the country. Neptune said a change in regulations that determine the way gas was blended would allow the company to safely produce 13% more gas at its Cygnus gas field in the North Sea.
Natural gas prices are expected to rise across the country this winter, particularly in New England and California.
The company’s purchase of Permian Basin assets from Shell means it will overtake all but Exxon in oil and gas output in the contiguous U.S.
Oil futures finished higher on Tuesday, ahead of Wednesday's data on U.S. petroleum supplies from the Energy Information Administration that are expected to reveal a seventh straight weekly decline in domestic crude inventories. On average, analysts polled by S&P Global Platts expect the EIA to report a decline of 3.8 million barrels in crude supplies for the week ended Sept. 17. On its expiration day, West Texas Intermediate crude for October delivery rose 27 cents, or 0.4%, to finish at $70.56
The House has included common-sense oil and gas reforms in its version of the 'Build Back Better' Act. The Senate should follow suit.
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