Following the steepest loss in one month, oil prices finished slightly higher on Thursday as U.S. government data confirmed a fall in domestic crude supplies, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, August West Texas Intermediate crude tacked on 39 cents, or 0.9%, to settle at $45.52 a barrel. On the London ICE …
Category: Oil & Gas
WTI and Brent Crude Drop on Wednesday
Oil prices suffer their largest drop in a month on Wednesday, snapping their longest run of gains since 2010, according to Bloomberg MarketWatch. August West Texas Intermediate oil lost $1.94, or 4.1%, to settle at $45.13 a barrel on the New York Mercantile Exchange, posting its first loss in nine sessions. September Brent crude, the global …
WTI, Brent Crude Edge Near $50 a Barrel on Monday
Oil prices continued to rise on Monday and posted a seventh-straight consecutive gain, according to Bloomberg MarketWatch. August West Texas Intermediate crude rose $1.03, or 2.2%, to settle at $47.07 a barrel on the New York Mercantile Exchange. September Brent crude, the global benchmark, tacked on 91 cents, or 1.9%, to end trading at $49.68 a …
U.S. Rig Count Falls After Six Months of Continuous Growth
For the first time in six months, the latest weekly oil and gas rig count posted a decline for the nation, according to Baker Hughes Company of Houston, Texas. Oklahoma’s count remained the same as last week, reaching 132 compared to 58 from a year ago. The nation’s rig count dropped by one to reach …
Crude Oil Hits Streak of Seven Consecutive Gains on Friday
Oil prices rebounded on Friday as traders remained optimistic about further reductions in crude production, according to Bloomberg MarketWatch. August WTI crude rose $1.11, or 2.5%, to settle at $46.04 a barrel on the New York Mercantile Exchange. Prices shed about 9% for the quarter and tallied a decline of about 14.3% for the first half …
ConocoPhillips Sells Barnett Shale Holdings
ConocoPhillips is selling its interest in the Barnett Shale in northern Texas for $305 million to the Louisiana-based Miller Thomson and Partners LLC. The holdings are located in a 17-county area around Fort Worth, Texas. Production last year was 11-thousand barrels of oil equivalent a day. The Houston-based company with major operations in Bartlesville, Oklahoma …
Major Pipeline Study Announced by Energy Transfer
Dallas based Energy Transfer has inked a deal to study joint participation with South Korea-based Korea Gas Corporation in a Louisiana LNG Liquefaction Project. Houston-based BG LNG Services LLC, a subsidiary of Shell is also participating in the Lake Charles Project. Energy Transfer Equity and Energy Transfer Partners owns the Lake Charles LNG facility. The …
WTI and Brent Crude Settlements Rise on Thursday
Crude oil futures were on the rise again Thursday, marking a sixth straight day of positive growth, according to Bloomberg MarketWatch. August West Texas Intermediate crude added 19 cents, or 0.4%, to settle at $44.93 a barrel on the New York Mercantile Exchange, marking its highest finish since June 13. August Brent crude, the global benchmark, …
Chesapeake Moved Quickly To Produce Four Wells near Dover
The same week that Chesapeake Energy CEO Doug Lawler told an investors conference in New York his company’s strength is better than ever, the firm revealed the completion of four Kingfisher County wells. All four were drilled at the same site, 31 18N 6W which is about one and a half miles east of the …
Crude Oil Futures Show Signs of Rebounding as Settlements Rise on Wednesday
Crude prices settled higher on Wednesday as government data showed a decline in domestic oil production despite competing forecasts, according to Bloomberg MarketWatch. August West Texas Intermediate crude added 50 cents, or 1.1%, to settle at $44.74 a barrel on the New York Mercantile Exchange, marking a fifth consecutive increase. August Brent crude, the global benchmark, …