National Average Gasoline Price Starts New Year Under $2 a Gallon
Not since January 2009 has a gallon of gas cost less than $2 a gallon on the first working day of the year.
Energy
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Oil Rig Count Drops 2 as First US Export Cargo Sails
In the period ended December 31, the number of rigs drilling for oil in the United States totaled 536, according to the Baker Hughes North American Rotary Rig Count.
Gas Prices End Year at $2, Americans Save $115 Billion
Gasoline prices ended the year at $2 per gallon, the second lowest price in a decade. The benefit to consumers was huge.
WPX Rises on Sale of San Juan Basin System
WPX Energy announced that it signed an agreement to sell its San Juan Basin gathering system for consideration of approximately $309 million.
Lucas Energy Soars on New Purchase Agreement
Lucas Energy announced that is has signed a purchase agreement to acquire, from 21 different entities and individuals, working interests in producing properties and undeveloped acreage.
Natural Gas Price Holds After Larger Withdrawal, Swelling Inventory
The EIA reported Thursday morning that U.S. natural gas stocks decreased more than expected for the week ending December 25.
Conoco, NuStar Load US Crude for First Export in 40 Years
ConocoPhillips and NuStar Energy announced on Wednesday that they are loading what they believe to be the first export shipment of U.S. crude in 40 years.
SunEdison Pays Off $336 Million Note 5 Years Early
SunEdison reported the extinguishment of $336 million in 3.75% guaranteed exchangeable senior secured notes and the acquisition of a stake in solar power plants from Dominion Resources.
Crude Oil Price Slides on Big Inventory Increase
U.S. commercial crude inventories increased by more than 2 million barrels last week, according to the EIA.
Gas Prices Drop Toward $1
AAA and GasBuddy, two organizations that follow gas prices, say that gasoline prices below $2 will be routine around the United States.
6 Major Oil and Gas Bounce-Back Candidates for 2016
Canaccord Genuity is not calling an exact bottom in the energy patch, but it has listed several exploration and production companies that could be candidates for a serious bounce back in their shares.
Energy Short Interest Highest Ever: Stick With 3 Large Cap Dividend Leaders in 2016
Oil won’t stay this low forever. In the meantime, it just makes sense for investors to stay with the large cap leaders that have survived these market downturns in the past.
Short Sellers Increase Bets in Major Oil Stocks
The short interest data have been released for the December 15 settlement date, and short interest for the selected stocks was saw a definite jump.
Short Sellers Focus on 1 Solar Stock
Short interest moves among solar and alternative energy stocks mostly increased during the two-week reporting period that ended on December 15.
The Case for $20 Oil
The argument for lower oil prices breaks into a very few parts. The first is that massive oil producer Saudi Arabia means to destroy the industry financially.