Domestic crude oil prices settled flat but slightly higher on Monday after posting a 5% gain last week, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude tacked on 2 cents, or less than 0.5%, to settle at $49.91 a barrel. The October contract expires at Wednesday’s settlement. November …
Category: Oil & Gas
North Dakota’s Two-Year Oil Production Decline Tapering Off
In recent days we’ve heard how Continental Resources founder Harold Hamm was excited about the future of North Dakota’s Bakken shale formation and how some experts felt the play could equal that of Texas’ Permian Basin. Now comes a report that North Dakota’s oil production has stabilized after two years of decline. The State’s Department …
U.S. Rig Count Slips by Eight as Oklahoma is Consistent for the Week
The latest weekly oil and gas rig count revealed a decline for the nation while Oklahoma remains unchanged from last week, according to Baker Hughes Company of Houston, Texas. Oklahoma’s count was steady in the past week to remain at 130 compared to 65 just one year ago. The nation’s rig count dropped by eight …
WTI Hovers Close to $50 a Barrel at Friday’s Finish as Brent Settles Over $55
Domestic oil prices finished slightly under the $50 a barrel benchmark for Friday’s session but saw the largest weekly gain since late July, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude remained at $49.89 a barrel after forging ahead of $50 a barrel earlier in the day. For …
WTI and Brent Crude Advance on Thursday
West Texas Intermediate crude – the U.S. benchmark – traded at more than $50 a barrel before settling slightly lower on Thursday based on expectations for stronger demand and efforts by major producers to maintain a production curb agreement, according to Bloomberg MarketWatch. October West Texas Intermediate oil climbed 59 cents, or 1.2%, to settle at …
Drop in Crude Supplies Boosts WTI and Brent Crude Settlements on Wednesday
Crude oil futures rose again for a third consecutive gain on Wednesday as weekly government reports revealed a smaller-than-expected increase in crude supplies, according to Bloomberg MarketWatch. October West Texas Intermediate crude added $1.07, or 2.2%, to settle at $49.30 a barrel on the New York Mercantile Exchange. November Brent crude, the global benchmark, climbed 89 …
WTI, Brent Crude and Natural Gas Rise on Tuesday as Production Dwindles
Crude oil futures finished higher on Tuesday as the latest OPEC monthly report revealed a decrease in production last month, according to Bloomberg MarketWatch. October West Texas Intermediate crude oil gained 16 cents, or 0.3%, to settle at $48.23 a barrel on the New York Mercantile Exchange. On the ICE Futures Europe Exchange, November Brent …
WTI and Brent Crude Rise on Monday
Oil prices finished higher on Monday as traders and investors assessed the impact of Hurricane Irma on Florida’s energy demand and Hurricane Harvey’s damage to oil refineries on the Gulf Coast, according to Bloomberg MarketWatch. October West Texas Intermediate crude added 59 cents, or 1.2%, to settle at $48.07 a barrel on the New York Mercantile …
Unit Corporation Promotes David Merrill and David Dunham
Tulsa-based Unit Corporation recently announced that David T. Merrill was promoted to Chief Operating Officer. Merrill, who formerly served as Unit Corporation’s Senior Vice President, Chief Financial Officer and Treasurer, will be responsible for the day-to-day management of the company and its operating segments, according to a company press release. Merrill joined the company in …
Crude Oil Futures Fall on Friday as Hurricane Irma Nears Atlantic Coast
Domestic crude oil prices fell on Friday as U.S. refineries saw a slow recovery from flooding due to Hurricane Harvey, according to Bloomberg MarketWatch. October West Texas Intermediate crude fell $1.61, or 3.3%, to settle at $47.48 a barrel on the New York Mercantile Exchange. For the week, WTI rose 0.4% to score the first weekly …