Gas Prices Drop as Midwest Refineries Resume Production
The national average price for a gallon of regular gasoline fell more than five cents in the past week to $2.335. The most common price remained flat for the week at $2.199, and the…
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Marathon Stock Jumps on $888 Million Acquisition
Independent oil and gas company Marathon Oil Corp. (NYSE: MRO) announced Monday morning that it has signed a definitive purchase and sale agreement to acquire PayRock Energy Holdings. Marathon will pay $888 million for…
Jefferies Analyst Likes 3 Edgy Beta Oil Stocks Now
Jefferies says that while many stocks have jumped ahead of current fundamentals, long-term investors should consider what they literally term as "edgy beta" stocks.
Over 20 Key Oil & Gas Analyst Upgrades and Downgrades
24/7 Wall St. tracked numerous upgrades and downgrades, as well as new coverage initiations, in the June 17 week. There was an abnormal amount of these analyst calls in the oil and gas sector.
Gas Prices Above $2 a Gallon in All 50 States
In the first week of June 2016, gasoline prices in all 50 states rose above $2 a gallon for the first time all year according to GasBuddy. The lowest gas price in the country…
Oil Rig Count Rose by 9 Last Week, Hedge Funds Pile Up Short Contracts
There are a total of 424 working rigs in the country, according to the Baker Hughes North American Rotary Rig Count.
The Honeymoon Isn’t Over Yet for BP, Rosneft
BP and Russia's state-controlled oil company Rosneft have agreed to create a new joint venture to explore for oil in west and central Siberia. The venure is called Yermak Neftegaz.
Natural Gas Price Dips on Storage Increase
U.S. natural gas stocks increased by more than expected for the week ending June 10, according to the U.S. Energy Information Administration.
Stifel Raises Price Targets on 3 Very Hot Energy Stocks
One trend that we have started to see at the investment banks that we cover here at 24/7 Wall St. is a move down the capitalization ladder in the energy sector, and with good…
Devon Reaps $858 Million From Midland Basin Asset Sale
Devon Energy has agreed to sell $858 million worth of assets in the Midland (Permian) Basin to Pioneer Natural Resources and one other buyer.
Has $800 Billion in Oil Simply Disappeared?
By one count, some 3 billion barrels of crude oil valued at about $840 billion have gone missing since the end of 2014.
Crude Oil Price Skips Higher on Inventory Drawdown
U.S. commercial crude inventories decreased by 900,000 barrels last week, according to the U.S. Energy Information Administration.
Investors Prefer Oil Field Services Now Over E&P Stocks: 3 to Buy
A recent survey found 82% of respondents said they now favor oil field services to E&P stocks, a huge shift from May.
Merrill Lynch Very Selective on Oil Field Services: 3 Top Picks
In a new research report, Merrill Lynch reinstates coverage of oil field services with what they analysts call a “selective” view.
Oil Markets to Rebalance in 2016: IEA
Assuming there are no further shocks to global production, the IEA expects the oil market to come into balance in the second half of this year.