Global Tensions and Economic Concerns Pressure Energy Markets Growing pessimism over global supply and demand sent crude oil prices slipping in Monday’s trading session. Analysts pointed to a mix of geopolitical tensions, sanctions, and economic strain as the leading factors behind the market’s downturn. The continued war between Russia and Ukraine, coupled with U.S. sanctions …
Federal Grand Jury Charges Five in Multi-State Investigation A federal grand jury in El Paso, Texas, has indicted five men accused of stealing tens of thousands of dollars in crude oil from a storage yard in Carlsbad, New Mexico. The defendants—Maxwell Sterling Jensen, Thomas Rees, Christopher Ortega, Christian Contreras Varela, and German Ortiz Santillano—face charges …
New York Governor Kathy Hochul’s decision last week to finally approve the Williams Cos.’s natural gas pipeline into New York City left a bitter taste for environmental advocates who opposed the Tulsa company’s request. Some felt “betrayed,” as stated by Alex Beauchamp, the northeast region director at Food and Water Watch. “By granting the …
Oklahoma went another week with no change in its active oil and gas exploration, according to the most recent Rig Count released by the Baker Hughes Co. The state’s count of 42 was unchanged from the previous week although there were changes in the different oil and gas plays in the state. The …
The president of a Texas oil company warns of layoffs and a potential slowdown in drilling next year as OPEC+ producers flood the market and drive down prices. With the clock ticking as 2026 is weeks away, not all oil companies will be walking into the new year optimistic. “I think what [oil …
Crude Oil Supply and Investor Concerns Even as investors worry about a world glut of Crude Oil following increased production by OPEDC+ countries and oil prices waver with every new development, big oil leaders, Exxon Mobil, Chevron, and Shell continue to hike their Crude Oil production volume. However, supply growth often pressures benchmarks when macro …
The U.S. Rig Count fell by four in the past week, leaving 546 active oil and gas rigs still breaking the plains of energy-producing states, reported Baker Hughes Co. on Friday. The weekly rig count remains one of the most closely-watched indicators in energy markets because of how drilling levels shape future supply exposure. Every …
Crude Oil Prices Slip Amid Trade Uncertainty A combination of the Federal Reserve’s latest rate cut and the meeting between President Donald Trump and Chinese President Xi Jinping sent crude oil prices falling on Thursday.Early trading showed the decline continuing through the afternoon, with U.S. benchmark West Texas Intermediate (WTI) crude closing at $60.25 per …
Crude Oil Stocks Fall Nearly Seven Million Barrels The U.S. government reported a nearly 7 million-barrel drop in crude oil stocks nationwide, marking a notable weekly decline in reserves. The U.S. Energy Information Administration (EIA) said the amount of crude oil in storage fell 6.8 million barrels over the past week — declining from 422.8 …
National Average Gasoline Price Trends For the first time in years, U.S. gasoline prices dropped below $3 per gallon, marking a significant milestone for consumers and analysts tracking global energy markets. The brief dip reflected OPEC+ decisions to return more oil to the market and a period of weaker global demand, both of which contributed …
