Oil prices registered another gain on Tuesday, ahead of a weekly U.S. government data reports that are expected to reveal a decline in crude supplies, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude rose 38 cents, or 0.8%, to settle at $46.46 a barrel. On the London ICE …
Category: Oil & Gas
Refracking Old Wells in the Bakken Produces More Oil in North Dakota
Environmentalists might not like it but new hydraulic fracturing techniques are being applied in the Bakken in North Dakota, a move that could result in even more oil being recovered, thus affecting the worldwide prices. A report in the Bismarck Tribune indicates that wells drilled between 2008 and 2010 are targeted for refracking because …
Crude Oil Futures Advance on Monday
Oil prices ended higher on Monday as traders await the weekly update on domestic petroleum supplies and global output figures, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude tacked on 25 cents, or 0.6%, to settle at $46.08 a barrel. On the London ICE Futures Exchange, August Brent crude, the …
Opposition Grows to Colorado Oil and Gas Exploration Following Deadly Home Explosion
The April 17 explosion that killed two men in Firestone, Colorado has resulted in efforts against oil and gas drilling in other nearby suburbs of Denver, Colorado. As E and E News reports, some residents of Broomfield, a community located about 20 miles north of Denver, are collecting signatures on a referendum to make it …
Rig Count: Oklahoma Leads the Way With Five New Rigs, U.S. Count Reaches 927
Oklahoma accounted for nearly half of the past week’s national rig count, according to figures released by Baker Hughes. Oklahoma’s count jumped by 5 to reach 131. A year ago, the state had only 58 working oil and gas rigs. Nationally, the count grew by 11, reaching 927 active rigs. The U.S. count is up …
WTI and Brent Crude Slightly Rise on Friday
Despite registering a third-straight weekly loss, crude oil futures rebounded on Friday after experiencing two consecutive declines, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude rose 19 cents, or 0.4%, to settle at $45.83 a barrel. For the week WTI fell 3.8%. On the London ICE Futures Exchange, August …
WTI Hovers Around $45 a Barrel on Thursday as Traders Try to Shake Off Jump in Crude Supply
Oil prices ended fairly flat on Thursday resulting a slight drop as investors mulled over the way to approach an unexpected rise in crude supplies, according to Bloomberg Marketwatch. On the New York Mercantile Exchange, July West Texas Intermediate crude fell 8 cents, or 0.2%, to settle at $45.64 a barrel. On London’s ICE Futures Exchange, …
Crude Oil Futures Take a Tumble on Wednesday
Oil prices plunged to their lowest level in nearly a month on Wednesday after data revealed that domestic crude stockpiles unexpectedly rose, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude fell $2.47, or 5.1%, to settle at $45.72 a barrel, marking its lowest finish since May 4. On the …
WTI and Brent Crude Settlements Energized on Tuesday
Oil futures rebounded on Tuesday as traders speculated that domestic government data reports will show yet another decline in crude supplies, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude added 79 cents, or 1.7%, to settle at $48.19 a barrel. On the London ICE Futures Exchange, August Brent …
Two Arrested Near Fairview for Spilling Oil and Saltwater, Setting Fires
Two men were arrested Friday following a three-week investigation by the Major County Sheriff’s Office regarding an oil spill. Joshua England, 20, and Dakota Gray, 26, were arrested after they allegedly set several hay bales on fire. The two men along with a male juvenile are also accused of causing damage to a rural oil …