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Active drilling rigs in the U.S. surprisingly fell by 3 to 764, still 55% above levels at this time last year, according to the latest weekly survey from Baker Hughes . Drilling rigs targeting crude oil fell by 7 to 598, while gas rigs increased by 4 to 161, while 5 rigs remaine...
WTI crude oil prices fell Thursday to their lowest point since early February, giving up all gains since the Russia's war in Ukraine began. WTI crude ( CL1:COM ) for September delivery -1.5% to $89.26/bbl, and Brent crude ( CO1:COM ) for October delivery -2.1% ...
The investment landscape has been much more difficult for most sustainable portfolios since the fourth quarter of last year. One thing that we know is that the sustainability challenges that these stocks are connected to haven’t gone away. If anything, the economic challeng...
It’s hard to believe that even after dramatically outperforming the broad stock market for almost two years now, energy stocks still trade at a massive discount. In that context, however, it’s not hard to understand why executives in the sector have been, and still remai...
EIA reported that the U.S. implied gasoline demand on a 4-week basis is now below 2020. This raises far more questions than answers, as all the other empirical data suggests otherwise. While we do acknowledge that demand has weakened, one has to question if it's that weak. Sad...
Last Thursday, the Commerce Department announced its preliminary estimate for second-quarter GDP growth at an annualized decline of -0.9%, which marks two consecutive quarters of negative GDP growth. The Commerce Department announced on Wednesday that durable goods orders increased a ...
Saudi Aramco has plans to almost double its fleet, which in the past 10 years has averaged 45 jackups, to 92 contracted jackups by the end of 2023. Between ADNOC Drilling and Advanced Energy Systems, they hold 70% of jackup purchases in 2022. Based on production targets and curren...
Just like last month, I am again lowering my West Texas Oil ((WTI)) forecast for the upcoming month by ten dollars per barrel to range between $90 to $110. While the physical market remains tight, oil may be held in check by the approaching shoulder season and recessionary fears. ...
The largest production decreases came from the GOM, Texas and New Mexico. In the On-shore L48, May production increased by 95 kb/d to 9,542 kb/d. North Dakota’s May output rebounded from the April storm to 1,049 kb/d, an increase of 155 kb/d from April. The slowing of r...
Active drilling rigs in the U.S. added 9 to 767, the highest count since the start of pandemic shutdowns in March 2020 and 57% above the level at the same time last year, Baker Hughes reports in its latest weekly survey . Drilling rigs targeting crude oil rose by 6 to 605, while...
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2024-04-28 09:10:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...
Source: Streetwise Reports 04/19/2024 Are we at the start of a commodities supercycle? We sat down with McAlinden Research to see what they had to ...
2024-04-18 14:36:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...