U.S. Gulf Coast energy firms face another hurricane hit
Evacuations were underway on Monday from offshore U.S. Gulf of Mexico oil platforms as onshore oil refiners began preparing for rain and heavy winds from a second hurricane in as many weeks.
Oil rises on declining inventories and weaker dollar
Oil prices edged higher on Thursday, supported by a sharp decline in U.S. crude stocks and a weaker dollar, though gains were capped by an OPEC+ decision to stick to its policy of gradually increasing output.
Floods, outages stall energy firms’ restart efforts after Ida
Widespread flooding, power outages and debris-strewn roads slowed recovery efforts by energy companies on Tuesday after Hurricane Ida ripped into oil production facilities, ports and refineries.
Oil edges lower as U.S. pushes OPEC to pump more
Oil slipped on Tuesday as OPEC and allies geared up for a meeting on Wednesday amid calls from the United States to pump more crude, although Brent still traded well above $70 per barrel.
Marketmind: Just a little bit longer
A consensual takeaway from Federal Reserve Chairman Jerome Powell’s remarks at the Jackson Hole Symposium is that investors will be able to dirty dance to the beat of the Fed’s $120 billion monthly asset purchases for just a little bit longer.
BHP, Woodside investors jittery over $29 billion petroleum merger
Shares in BHP Group (BHP.AX) and Woodside Petroleum (WPL.AX) fell on Wednesday as investors on both sides raised questions about the value of the Perth-based oil and gas group’s proposed $29 billion merger with BHP’s petroleum arm.
U.S. Gulf of Mexico oil producers consolidation accelerates
Oil and gas producers in U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers who had been seen as the industry’s future.
