U.S. natural gas futures edged up around 1% on Monday as the amount of gas flowing to the country's liquefied natural gas (LNG) export plants increases after Freeport LNG's facility in Texas returned to near full service over the past few days. That price increase came despite forecasts for milder weather and lower gas demand over the next two weeks than previously expected. Front-month gas futures for October delivery on the New York Mercantile Exchange rose 1.3 cents, or 0.5%, to $2.657 [Read more]
Canada’s Trans Mountain oil pipeline faces hearing on route change dispute
Canadian regulators on Monday kicked off a two-day hearing to weigh up a controversial route change request from the Trans Mountain expansion (TMX) project that has sparked Indigenous opposition and may lead to further delays for the key oil pipeline. After years of environmental opposition, regulatory hold-ups and ballooning costs, Canadian government-owned TMX is nearing completion and due to start shipping an extra 590,000 barrels per day of crude from Alberta to Canada's Pacific coast in [Read more]
Oil rises on supply concerns, China demand recovery
Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world's top crude importer. Brent crude futures rose 39 cents, or 0.4%, to $94.32 a barrel by 0253 GMT while U.S. West Texas Intermediate crude futures were at $91.30 a barrel, up 53 cents, or 0.6%. "China's stimulus policy, resilient U.S. economic data, and OPEC+’s [Read more]
Chevron Australia says full production resumes at strike-hit Wheatstone LNG plant
Chevron said on Monday full production had resumed at its strike-hit Wheatstone liquefied natural gas (LNG) facility in Western Australia after a fault last week cut production by about one-fifth. Workers began 24-hour strikes over the weekend at Chevron's Gorgon and Wheatstone LNG facilities, which account for over 5% of global supply, escalating what had been six days of brief work stoppages and limited bans on certain tasks. Strikes would be most effective during outages as restarting [Read more]
Pipestone Energy’s stakeholder GMT Capital to vote against Strathcona all-stock deal
GMT Capital, the second-largest shareholder in oil company Pipestone Energy, said on Friday it intends to vote against an all-stock deal proposed by larger rival Strathcona Resources as it undervalues the company. Candian oil producer Strathcona said last month it will go public by acquiring Pipestone to create a combined business with a market capitalization of C$8.6 billion ($6.36 billion). As per the all-stock deal, which is expected to close in October, Pipestone shareholders will [Read more]
US drillers add most oil and gas rigs since November – Baker Hughes
Sept 15 - U.S. energy firms this week added the most oil and natural gas rigs in a week since November, rising for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose nine to 641 in the week to Sept. 15, its highest since mid-August. Despite this week's rig increase, Baker Hughes said the total count was still down 122, or 16%, below this time last year. U.S. oil [Read more]
Oil prices surge as stocks drain away from Cushing: Kemp
U.S. crude oil prices have surged and the futures strip has moved into a sharp backwardation as inventories have drained away from the NYMEX delivery point at Cushing in Oklahoma. Futures prices for crude delivered in October climbed to $90 per barrel on Sept. 14, up from $68 on June 27, as traders anticipated increasing shortages of unrefined petroleum. The three-month calendar spread from October 2023 to January 2024 tightened to a backwardation of $2.26 per barrel from just 10 cents, as [Read more]
Canada-owned Trans Mountain asks regulator to approve oil pipeline tolls despite shipper complaints
Trans Mountain Corp, the oil pipeline company owned by the Canadian government, asked a regulator on Thursday to approve the proposed tolls it wants to charge shippers, who have said they are too high. In a filing to the Canada Energy Regulator (CER), Trans Mountain also said the interim toll proposal would result in the pipeline operator absorbing two-thirds of the construction cost increases for its long-delayed expansion project. The expansion would nearly triple the flow of crude from [Read more]
US natgas prices ease 1% on lower output reductions and less warm forecasts
U.S. natural gas futures eased about 1% on Friday on lower production reductions than previously expected and forecasts for less warm weather next week. That price decline came despite an increase in the amount of gas flowing to Freeport LNG's liquefied natural gas (LNG) export plant in Texas. Front-month gas futures for October delivery on the New York Mercantile Exchange were down 3.2 cents, or 1.2%, to $2.676 per million British thermal units (mmBtu) at 9:13 a.m. EDT (1313 GMT). For [Read more]
Oil set to rise for a third week on strong China economic data
Oil prices rose on Friday and are set for a third weekly gain, as better-than-expected Chinese economic data and reports of record oil consumption bolstered the view that demand in the world's second-largest crude consumer will continue to surge. Brent crude futures rose 62 cents, or 0.7%, to $94.32 as of 0249 GMT, while the U.S. West Texas Intermediate crude (WTI) was up 71 cents, or 0.8%, at $90.87. Both benchmarks were up about 4% from a week ago. China's industrial output and retail [Read more]
- « Previous Page
- 1
- …
- 94
- 95
- 96
- 97
- 98
- …
- 609
- Next Page »