US Gas Price Cools As Summer Driving Season Ends
Gasoline dropped by just over a penny in the last week, bringing the summer driving season to a close with an average price since Memorial Day of $2.87 a gallon, the highest pump price…
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Transocean Bets on Higher Oil Prices With Acquisition of Deepwater Driller Ocean Rig
Offshore driller Transocean has agreed to acquire Ocean Rig in a transaction valued at $2.7 billion in cash and stock.
Why Merrill Lynch Thinks PG&E Is Starting to Heat Up
PG&E shares made a handy gain on Tuesday after a key analyst upgraded the stock. Most of this report has to do with California wildfire liabilities from 2017, and there seems to be a…
US Oil Rig Count Rises by 2, Crude on Track for 2% Weekly Gain
The number of land-based rigs operating in the United States rose by two this week after dropping by nine last week. U.S. production continues to rise, reaching nearly 10.7 million barrels a day in…
Canadian Court Halts Work on Trans Mountain Pipeline as Kinder Morgan Gets Paid
Canada's Federal Appeals Court on Thursday ruled in favor of indigenous and environmental groups to halt work on the Trans Mountain oil pipeline expansion project that the government had purchased in May from Kinder…
Natural Gas Price Dips as Inventory Rises Above Estimates
Natural gas prices slipped a bit following Thursday morning's report on U.S. gas stockpiles. Last week's storage injection was higher than analysts had estimated.
Exxon Adds to Offshore Guyana Discoveries
Exxon Mobil announced Thursday that it had made another oil discovery in the deepwater basin offshore of Guyana. This is the ninth discovery in the Stabroek region where an Exxon subsidiary owns a 45%…
What California’s Renewable Energy Bill Means for Customers Near and Far
The California Senate on Wednesday approved a bill requiring the state to get 100% of its electricity from renewable sources by 2050. Is that even possible?
Crude Oil Price Moves Up Following Sizable Inventory Decline
U.S. commercial crude oil and gasoline stockpiles declined more than expected last week. Crude oil imports and exports also fell. Prices rose a bit on following the report from the U.S. Energy Information Administration.
Gas Prices Will Ease Further in Fall: AAA
Retail gas prices are on course to drop by more than 25 cents a gallon since the beginning of summer. A gallon of gas costs about 40 cents a gallon more than it did…
US Gas Price Remains Near 3-Month Low
With the Labor Day holiday and the end of the summer driving season are just a few days away, the U.S. national average price for a gallon of regular gas is around $2.83 a…
Short Sellers Search for Direction on Solar, Alt Energy Stocks
In the two-week reporting period that ended August 15, short sellers have covered some bets and boosted others. SunPower and Pacific Ethanol appear to have been the shorts' favorites.
Major Oil Stocks See Rising Tide in Short Interest
The August 15 short interest data have been compared with the previous figures, and short interest in most of these selected big oil stocks increased.
US Oil Rig Count Drops by 9, Crude on Track for 6% Weekly Gain
The number of U.S. land-based oil rigs dropped by 9 this week and 4 land-based natural gas rigs were also idled. The decline had only a minor effect on spot crude prices.
Enbridge Raises All-Stock Offer for Spectra to $3.3 Billion
Canada-based Enbridge has raised its offer to acquire the outstanding shares of Spectra Energy Partners that Enbridge does not already own in a transaction the company says gives the combined firm better access to…