World’s Cheapest Crude Hits Record Low as Oil Slump Deepens
A deepening oil market slump is adding fresh pain for producers of the world’s cheapest crude as the Canadian heavy grade reached a record low, raising the prospect of more Continue Reading
Shale Explorers Pull Oil on the Cheap From Slumbering U.S. Wells
U.S. shale explorers will be able to bring new supplies to market this year even with most of the rig fleet shut down and drilling budgets cut to the bone. Continue Reading
U.S. Crude Exports in November Fall to Lowest Since May 2014
U.S. average daily crude exports plummeted 36 percent to about 320,000 barrels a day in November, the last full month in which restrictions on such shipments were in effect, according Continue Reading
California governor declares gas leak a state of emergency
California Gov. Jerry Brown declared a state of emergency Wednesday over a massive natural-gas leak that has been spewing fumes into a Los Angeles neighborhood for months. In a statement, Continue Reading
Gas Prices Set to Fall 10 Cents a Gallon
Get ready for lower prices at the pump. Gasoline futures plunged Wednesday, dragging global oil prices to 11-year lows, meaning that a drop in retail prices won’t be far behind. Continue Reading
Energy Companies Cut Drilling Budgets — And Are Punished
Wall Street has been clamoring for oil and gas companies to cut costs amid an epic energy bust, but that hasn’t stopped investors from punishing them the moment they do. Continue Reading
LOOP crude storage auction sees sustained high prices, high demand
January’s auction for crude storage space at the Louisiana Offshore Oil Port saw sustained high prices for a second month in a row, after prices jumped in December’s auction due Continue Reading
Hampton Roads coal exports end year with lowest total since 2007
Coal exports from terminals in Virginia’s Hampton Roads region totaled more than 26.8 million st in 2015, according to December export data released Wednesday by the Virginia Maritime Association. The Continue Reading
U.S. manufacturing slowdown stokes fears about oil demand
Growing signs of weakness in the U.S. economy are helping keep oil prices under pressure even as tensions escalate across North Africa and the Middle East. U.S. manufacturers reported business Continue Reading
Oklahoma Oil Firm Resists Call to Shut Down Wells Amid Earthquake Concerns
A financially strapped Oklahoma oil company is defying the state regulator’s request that it shut down six wells used to dispose of wastewater, despite fears they may be contributing to Continue Reading