More than 80 percent of oil and gas well completions in the United States were horizontal or directional in 2021, and although the total number of completed wells has fallen since 2010, U.S. crude oil production has more than doubled thanks to horizontal drilling, the Energy Information Administration (EIA) said on Thursday. Last year, 81 percent of […]
Taking some air out of the crazed market — and the hot economy in general — is precisely what the Federal Reserve wanted to do when it raised its key interest rate in March and signaled more increases to come. Mortgage rates have surged in response, jumping to 5 percent from slightly more than 3 percent […]
Five years after the United States became a net exporter of natural gas on an annual basis, the country’s natural gas exports both by pipeline and as liquefied natural gas (LNG) have grown by leaps and bounds. The U.S. Energy Information Administration (EIA) has forecast that the United States will surpass Australia and Qatar to become the […]
The surging price of corn hit another milestone on Monday morning as the cost of global commodities continues to push higher. The contracts for July corn futures were trading above $8 per bushel on Monday, the highest level since September 2012. The contracts were trading near $6 per bushel at the start of the year. Corn is […]
Horizontal drilling permits for new wells in the Permian Basin hit an all-time high in March, with 904 total permit awards, driven by elevated oil prices and production demand, Rystad Energy research shows. Weekly approved permits have hovered between 188 and 227 since March 7, 2022, an unprecedented period of high activity that pushed the four-week […]
Natural gas futures on Thursday posted a gain for the holiday-shortened week, their fifth weekly climb in a row, with prices for the fuel settling at their highest in close to 14 years. The front-month May contract for natural gas NGK22, +4.63% settled at $7.30 per million British thermal units on Thursday, up 30 cents, or 4.3% for the […]
Americans who have put off their 2021 taxes have less than a week to file a return or an extension — and fill them out accurately to avoid trouble from the Internal Revenue Service. Audits are a risk that all should heed, but especially the lowest-income earners. The IRS looked at their returns at a […]
Tesla CEO Elon Musk offered to buy Twitter in a deal worth more than $43 billion and take the social media company private. Musk’s best and final offer was to pay $54.20 per share for 100% of Twitter, and said that if his offer was not accepted he’d have to reconsider his position as a shareholder, according to […]
Natural-gas futures settled Thursday at their highest price since December 2008, with a rise in coal prices, tight supplies and global worries about energy supplies contributing to a price gain of more than 70% for the fuel so far this year. U.S. natural gas prices are “sensitive to any near-term supply concerns created by events […]
Commodities have room to soar by another 40 percent on top of the gains in recent months, as investors could pour more money into raw materials as a hedge against the highest inflation in 40 years, JPMorgan Chase & Co says. “In the current juncture, where the need for inflation hedges is more elevated, it […]
