The number of Americans filing for jobless benefits dropped to a near four-month low last week, but a record 32.9 million people were collecting unemployment checks in the third week Continue Reading
The U.S. economy is stumbling as the viral outbreak intensifies, threatening to slow hiring and deepening the uncertainty for employees, consumers and companies across the country. Coronavirus case counts are Continue Reading
The oil demand crash in April, when most of America was under stay-at-home orders, resulted in the biggest monthly inventory jump in U.S. commercial crude oil inventories in data going Continue Reading
US natural gas in storage rose 56 Bcf in the week ended July 3, according to Energy Information Administration data released July 9, as electric generation boosted demand and the Continue Reading
U.S. crude oil refinery inputs averaged 14.3 million barrels per day during the week ending July 3, 2020 which was 315,000 barrels per day more than the previous week’s average. Continue Reading
United Airlines ( UAL.O ) said on Wednesday it was preparing to send notices of potential furloughs to 36,000 U.S.-based frontline employees, or about 45% of staff, as travel demand Continue Reading
Federal Reserve officials raised fresh doubts on Wednesday about the durability of the U.S. recovery, while new business surveys highlighted developing risks from the relentless coronavirus pandemic. In separate appearances, Continue Reading
U.S. consumers reduced their borrowing for a third straight month in May as the millions of jobs lost because of the coronavirus pandemic made households less eager to take on Continue Reading
Here at 12,000 feet on the Continental Divide, only vestiges of the winter snowpack remain, scattered white patches that have yet to melt and feed the upper Colorado River, 50 Continue Reading
Encouraged by higher oil prices, Canadian oil companies are bringing back some of the crude oil production they had curtailed, the top executives of some of the largest firms said Continue Reading
A steep decline in US oil exports and a flood of imports pushed crude inventories higher last week, even as refinery inputs and refined product demand edged higher, US Energy Continue Reading
U.S. gasoline demand recovered to where it was before the pandemic closed much of the country, but it’s still well-below where it usually is in height of the summer driving Continue Reading
After the coronavirus was first reported in the U.S. in January, the first million reported cases developed over roughly three months, as testing centered around those who had fallen ill Continue Reading
Mexico’s state oil firm Pemex is asking some of its contractors if they would agree to be paid for their services next year, people familiar with the payment situation at Continue Reading
Americans have become more pessimistic about the prospects for a quick pandemic recovery, especially in the states of the US South and west where coronavirus cases have spiked, according to a Continue Reading
This week’s escalation of American pipeline setbacks is heightening concerns among Canadian oil producers who export almost all of their crude to the U.S. Alex Pourbaix, the chief executive officer of Cenovus Continue Reading
The July Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because mitigation and reopening efforts related to the 2019 novel coronavirus disease (COVID-19) continue to evolve. Reduced economic activity related to Continue Reading
The collapse in oil prices has significantly deteriorated Canada’s oil companies’ finances and has made repaying their debt more challenging. Over the past decade, Canadian firms have borrowed money to Continue Reading
The US Energy Information Administration July 7 again lowered its estimates for natural gas marketed production for the rest of 2020, pointing to low gas and oil prices and production Continue Reading
Colorado State University has raised its annual forecast to call for 20 named storms, up from its outlook issued in June calling for 19. (Bloomberg) — After a frenzied start, Continue Reading
At least 20% of shut-in Canadian production is being restored, just months after the price crash forced producers in Alberta’s oil sands to slash up to 1 million barrels a day Continue Reading
U.S. utilities are scrutinizing their suppliers of transformers and other power-grid equipment for ties to China as they await details on President Donald Trump’s order to crack down on imports Continue Reading
The two largest U.S. rooftop solar companies are merging as the coronavirus pandemic casts a cloud over the market to install panels on homes. Sunrun Inc. RUN 22.63% is acquiring Vivint Solar Inc. VSLR 38.19% in an all-stock deal, the companies Continue Reading
US investment in offshore wind power is predicted to rise from nothing 10 years ago to a level that nearly matches spending on offshore oil drilling, as an energy source Continue Reading
While US gasoline demand continues to recover from April lockdowns, driving fell last week in three states hit hard by rising coronavirus cases, highlighting the ongoing risks to oil demand Continue Reading
Congress is eager to pass the next phase of coronavirus stimulus legislation, but the bipartisan spirit that was present months ago may be frayed. Unemployment rates in the world’s advanced Continue Reading
US crude oil inventories likely declined during the week ended July 3 amid an expected uptick in refinery demand and rising exports, analysts surveyed by S&P Global Platts said July Continue Reading
Asian economies that appear to have a handle on the initial macroeconomic destruction caused by COVID-19 also happen to be prolific buyers of U.S. light sweet crude. The near-term economic Continue Reading
A senior Federal Reserve official has warned that the rebound in the world’s largest economy is in danger of stalling as a result of the recent spike in coronavirus infections Continue Reading
Dominion Energy’s decision to sell its gas business to Berkshire Hathaway for $9.7 billion illustrates the enormous challenges US utilities face in meeting daunting state clean energy goals. Dominion is Continue Reading
In a preemptive move, a group backed by the Colorado oil and gas industry is pursuing a ballot initiative meant to prevent local governments from banning the use of natural Continue Reading
A judge on Monday ordered the Dakota Access pipeline shut down for additional environmental review more than three years after it began pumping oil — handing a victory to the Continue Reading
The Latest on the Treasury decision to identify hundreds of thousands of businesses that received funding through the Paycheck Protection Program, created to preserve jobs at smaller businesses during the Continue Reading
A U.S. court ordered the shutdown of the Dakota Access oil pipeline on Monday over concerns about its potential environmental impact, a big win for the Native American tribes and Continue Reading
U.S. crude futures edged lower with investors concerned that lackluster demand through the summer months will weigh on the market’s recovery. As coronavirus infections rise across much of the U.S., major Continue Reading
Economic fallout from the coronavirus pandemic has cast doubt on whether China can meet its targets to buy U.S. goods under this year’s trade deal—with energy emerging as the biggest Continue Reading
The builders of the Atlantic Coast Pipeline are pulling the plug on the project as companies continue to meet mounting environmental opposition to new fossil fuel conduits in the U.S. Continue Reading
According to government data from the Bureau of Labor Statistics, oil and gas extraction businesses shed 1,200 jobs last month. Including other categories associated with the sector – such as Continue Reading
Dominion Energy is canceling the 604-mile, 1.5 Bcf/d Atlantic Coast Pipeline project amid continued litigation hurdles, and it intends to sell substantially all of its gas transmission and storage assets Continue Reading
The Independence Day weekend concluded with dire predictions about the surge of coronavirus cases around the country and with national and local officials saying a rush to reopen fueled the spread Continue Reading
Six years ago, Canadian oilfield services firm Calfrac Well Services ( CFW.TO ) commanded a C$2.1 billion ($1.55 billion)market value and was poised for U.S. expansion. But by last month, Continue Reading
Dozens of U.S. diplomats and their families are leaving Saudi Arabia this weekend amid a surge in new coronavirus cases, drawing into focus the kingdom’s struggle in containing the outbreak Continue Reading
The June unemployment rate of 11.1 percent, down from a peak of 14.7 percent in April , reflects a continuing, cautious economic recovery. What those numbers don’t show is an Continue Reading
All of the oil (C + C) production data for the US states comes from the EIAʼs Petroleum Supply monthly PSM . At the end, an analysis of three different Continue Reading
President Trump boasted at a news conference Thursday that the economy is “roaring back” after another better-than-expected jobs report. The Dow also popped about 400 points after the Labor Department Continue Reading
House Democrats on Wednesday passed a $1.5 trillion green infrastructure plan that would surge funding to repair the nation’s crumbling roads and bridges while setting aside funds for broadband, schools Continue Reading
The U.S. economy created a record 4.8 million jobs in June as more restaurants and bars resumed operations, but layoffs remained elevated and raging COVID-19 cases across the country threaten Continue Reading
The U.S. trade deficit widened in May as the COVID-19 pandemic pushed exports to their lowest level since 2009, strengthening expectations the economy will contract in the second quarter at Continue Reading
The U.S. labor market made greater progress than expected last month digging out of a deep hole, yet optimism over the rebound was tempered by stubbornly high layoffs and a resurgent Continue Reading
At first glance, the June employment report was a blockbuster. The U.S. economy produced a record 4.8 million added jobs last month, walloping expectations. And the unemployment rate sank from Continue Reading
