Oil prices dropped on Monday as Saudi Arabia, Egypt, Bahrain and the United Arab Emirates severed diplomatic ties with neighboring Qatar, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude fell 26 cents, or 0.6%, to settle at $47.40 a barrel. August Brent crude, the global benchmark, slipped 48 …
Category: Oil & Gas
Public Comment Sought on Seismic Testing Along Atlantic Ocean Coast
In response to President Trump’s executive order of April 28 to open the Atlantic Ocean coast to offshore drilling, the National Marine Fisheries Service on Monday issued its intent to seek public input on the use of seismic air guns. In conjunction with the U.S. Department of Commerce and the National Oceanic and Atmospheric Administration, the agency …
Trump Withdrawal From Paris Climate Accord Sinks Crude Oil Futures on Friday
Crude oil futures ended lower on Friday as President Trump’s withdrawal from the Paris Climate Accord increased worry among investors, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude slid 70 cents, or 1.5%, to settle at $47.66 a barrel. WTI lost 4.3% for the week, which was the …
Rig Counts: Oklahoma Adds Three Active Rigs, U.S. Increases by Eight
Oklahoma had the second-best rig growth last week with the addition of three new rigs while the U.S. rig count increased by eight, according to the Baker Hughes rig count and Red Top Rig Report released on Friday. Canada gained six rigs for a total of 99. Canada is up 58 rigs when compared with …
Oklahoma Activists Will Plant Tobacco to Protest Diamond Pipeline
An Oklahoma veterans activist group with ties to the Standing Rock protest will challenge the controversial Diamond Pipeline by planting tobacco in its course, according to a press release issued by the group on Saturday. The Oklahoma Water Protectors announced their intent to sow sacred traditional Mvskoke (Muscogee/Creek) tobacco plants in the pathway of the …
WTI Posts Gain, Brent Crude Settles Lower on Thursday
Domestic crude oil prices settled slightly higher on Thursday as Brent crude posted back-to-back losses, according to Bloomberg MarketWatch. July West Texas Intermediate crude climbed 4 cents, or less than 0.1%, to settle at $48.36 a barrel on the New York Mercantile Exchange. August Brent crude, the global benchmark, lost 13 cents, or 0.3%, to end trading …
No Letup in SCOOP and STACK Exploration
It’s always fascinating to see where the oil and gas developers are locating their latest efforts in Oklahoma’s wildly-developing STACK and SCOOP plays. One of the latest permits to drill, as published by OK Energy Today is revealing who’s drilling where. In Blaine County, Continental Resources has a permit to drill in an area just west …
WTI Plummets Lower on Wednesday, Investors Weary of Global Supply Glut
Crude oil futures plunged sharply on Wednesday as U.S. traders grappled with settlements lower than the $50 a barrel benchmark and worry spread about the remaining glut of global supplies, according to Bloomberg MarketWatch. July West Texas Intermediate crude dropped $1.34, or 2.7%, to settle at $48.32 a barrel on the New York Mercantile Exchange, marking …
$1.1 million Fracking Fine in Pennsylvania
The State of Pennsylvania has fined a company $1.1 million in what one headline claimed was a “fracking fine.” The State’s Environmental Hearing Board fined EQT Drilling $1,137,295.76 for the pollution caused after a leak from a 6-million gallon wastewater impoundment five years ago in Duncan Township of Tioga county. It’s not quite the same …
Brent Crude Falls, WTI Settles Below $50 a Barrel on Tuesday
U.S. oil prices settled below the $50 a barrel benchmark on Tuesday after paring deeper losses while traders awaited governmental data to confirm a further decline in crude supplies, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude fell 14 cents, or 0.3%, to settle at $49.66 a barrel. On …