Crude oil prices finished with mixed results on Thursday, as light, sweet, crude continued to fall while Brent crude moved higher, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, May West Texas Intermediate crude fell 17 cents, or 0.3%, to settle at $50.27 a barrel. The May futures contract expired at the session’s end. …
Category: Oil & Gas
WTI, Brent Crude Post Gains on Wednesday as Domestic Output Continues to Rise
Crude oil futures rebounded on Thursday after dropping to their lowest level in almost three weeks as traders worried that domestic production would offset the production cuts being made by OPEC, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, May West Texas Intermediate crude oil futures settled at $50.96 a barrel, up 11 …
Oil Settlements Take a Tumble on Tuesday
Crude oil futures settled lower Tuesday as concerns mound over further growth in U.S. production output, according to Bloomberg MarketWatch. May West Texas Intermediate crude fell 24 cents, or 0.5%, to settle at $52.41 a barrel on the New York Mercantile Exchange. June Brent crude, the global benchmark, fell by 47 cents, or 0.9%, to end …
Crude Oil and Natural Gas Futures Fall on Monday
Pressured by data revealing a rise in the number of active domestic rigs and forecasts predicting increased production, oil prices dropped on Monday, according to Bloomberg MarketWatch. May West Texas Intermediate crude fell 53 cents, or 1%, to settle at $52.65 a barrel on the New York Mercantile Exchange. On the London ICE Futures Exchange, June …
Energy Leaders Favor Industry Growth Over Tax Hike to Break Oklahoma’s Revenue Shortage
Two state energy association leaders are convinced that the answer to Oklahoma’s current budget shortfall is through industry growth rather than increased taxation. In an editorial opinion published by The Oklahoman on Sunday, Chad Warmington and Tim Wigley warned that “the Legislature must avoid job-killing tax hikes.” Both cite the creation of 2,800 jobs in …
ConocoPhillips Sells San Juan Basin Assets for Nearly $3 Billion
Houston-based ConocoPhillips announced a blockbuster sale of its interests in the San Juan basin for nearly $3 billion in cash and contingent funds, according to a company press release issued on Thursday. The deal provides for $2.7 billion in cash and a contingent payment of nearly $300 million in exchange for the San Juan Basin assets …
WTI and Natural Gas Post Slight Gains on Thursday
Oil prices posted a slight gain Thursday as traders looked for signs of a balance between supply and demand, according to Bloomberg MarketWatch. May West Texas Intermediate crude oil rose 7 cents, or 0.1%, to settle at $53.18 a barrel on the New York Mercantile Exchange. Data from the Energy Information Administration this week …
Crude Oil Futures Settle Lower on Wednesday
Oil prices dropped on Wednesday despite a leading government report that showed a weekly decline in domestic crude supplies, according to Bloomberg MarketWatch. May West Texas Intermediate crude fell 29 cents, or 0.5%, to settle at $53.11 a barrel on the New York Mercantile Exchange. Wednesday’s settlement broke the streak for the sixth consecutive session increase …
WTI, Brent Crude Post Sixth Consecutive Gains on Tuesday
Crude oil futures finished higher on Tuesday, marking a sixth straight session gain as prices were buoyed by the possibility of extending OPEC’s production curb agreement, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, May West Texas Intermediate crude futures climbed 32 cents, or 0.6%, to settle at $53.40 a barrel. On the London …
Continental Resources Reports Latest Big STACK Well
One of the latest big wells to be reported in Oklahoma’s STACK is producing more than 1,000 barrels of oil a day. Continental Resources Inc. reports the Herod Fiu well, located at 8 16N 12W in Blaine county has daily production of 1,126 barrels of oil daily along with 4,688 Mcf of natural gas. The …