The White House on Wednesday said it faced challenges in finding alternative sources of energy supplies to Europe if Russia invades Ukraine and energy flows from Russia are interrupted, but pledged to continue talks with companies and countries. The European Union depends on Russia for around a third of its gas supplies. Any interruptions to its Russian imports would exacerbate an existing energy crisis caused by shortages and low reserves. "There is no question there are logistical [Read more]
U.S. natgas futures jump near 6% to 1-wk high on cold forecasts
U.S. natural gas futures jumped almost 6% to a one-week high on Wednesday on forecasts confirming prior outlooks that the weather will remain colder-than-normal through mid-February. On its second to last day as the front month, gas futures for February delivery rose 22.4 cents, or 5.5%, to settle at $4.277 per million British thermal units (mmBtu), their highest close since Jan. 18 for a second day in a row. Futures for March, which will soon be the front month, were up 12 cents at $4.02 [Read more]
Oil rises as investors lock in profits ahead of Fed update
Oil prices bounced back on Wednesday as investors locked in profits ahead of an update from the U.S. Federal Reserve and the U.S. Energy Information Administration's inventory data, but concerns over tighter supply amid geopolitical tensions capped losses. Oil prices hit seven-year highs last week on worries that supplies could tighten due to Ukraine-Russia tensions. U.S. President Joe Biden said on Tuesday he would consider personal sanctions on President Vladimir Putin if Russia invades [Read more]
U.S. natgas futures jump 6% to 2-week high on cold forecasts
U.S. natural gas futures jumped around 6% to a two-week high on Wednesday on forecasts confirming prior outlooks that the weather will remain colder-than-normal through mid-February. On its second to last day as the front-month, gas futures for February delivery rose 24.7 cents, or 6.1%, to $4.300 per million British thermal units (mmBtu) at 7:59 a.m. EST (1259 GMT), putting the contract on track for its highest close since Jan. 12. Futures for March, which will soon be the front-month, [Read more]
U.S. natgas futures edge up as cold slows output return
U.S. natural gas futures edged up to a one-week high on Tuesday as cold weather this year has slowed the return of some output. Front-month gas futures for February delivery rose 2.6 cents, or 0.6%, to settle at $4.053 per million British thermal units (mmBtu), their highest close since Jan. 18. The premium of futures for February over March fell to an intraday low of about seven cents per mmBtu earlier in the session, its lowest since at least 2019. March will become the front-month on [Read more]
Oil prices down as growing geopolitical tensions fuel supply fears
Oil prices remained down on Tuesday, as growing tension in Eastern Europe and the Middle East fuelled concerns over possible supply disruptions. U.S. West Texas Intermediate (WTI) crude futures dropped 42 cents, or 0.50%, to $83.58 a barrel, having slid 2.2% on Monday. Brent crude futures slid 29 cents, or 0.33%, to $86.84 a barrel, reversing a 1.8% fall in the previous session. Oil prices reached seven-year highs last week, bolstered by tight worldwide supply and resurgent global [Read more]
Money allocated by Canada for orphan well clean-up may not be enough
The cost of cleaning up Canada's orphaned oil and gas wells will reach C$1.1 billion by 2025 and the money allocated by Ottawa for the job may not be enough, the parliamentary budgetary watchdog said in a report on Tuesday. Canada is the world's fourth-largest oil producer and sixth-largest natural gas producer and its western provinces are dotted with hundreds of thousands of disused oil and gas wells. Some of those wells are orphans, meaning the companies that owned them have gone bankrupt [Read more]
U.S. oil CEOs offer opposing views on crude output growth
The chiefs of major U.S. oil companies Occidental Petroleum Corp and ConocoPhillips offered differing outlooks on the growth of U.S. oil output at a conference Monday, as the industry rebounds from shutdowns during the first stage of the coronavirus pandemic. Oil prices have surged to seven-year highs in the last several weeks, with international benchmark Brent crude nearly hitting $90 per barrel, bolstered by tight worldwide supply and resurgent global demand. ConocoPhillips Chief [Read more]
U.S. natgas futures slide on less cold forecasts
U.S. natural gas futures slid on Tuesday on forecasts for less cold weather and heating demand over the next two weeks than previously expected. Even though it will be milder, meteorologist forecast the weather will remain colder-than-normal through early February, keeping price declines in check. Front-month gas futures for February fell 7.5 cents, or 1.9%, to $3.952 per million British thermal units (mmBtu) at 8:07 a.m. EST (1307 GMT). The premium of futures for February over March [Read more]
Oil prices slide on supply fears amid tensions in Eastern Europe, Middle East
Oil prices dropped on Monday on worries about supply disruption amid rising tensions in Eastern Europe and the Middle East, which could make an already tight market even tighter, while OPEC and its allies continued to struggle to raise output. U.S. West Texas Intermediate (WTI) crude futures dropped $1.24, or 1.45%, to $83.49 a barrel, having fallen 0.5% on Friday. Brent crude futures was down $1.29, or 1.47%, to $86.39 a barrel, after a 0.6% loss on Friday. Both benchmarks rose for a [Read more]
- 1
- 2
- 3
- …
- 314
- Next Page »