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☆ Oil falls as investors cautious about U.S. recession risk
▼ + stars: | 2023-04-13 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +3 min

[1/2] The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File PhotoSINGAPORE, April 13 (Reuters) - Oil prices retreated on Thursday after rising for two sessions, with investors still showing lingering concern over a possible U.S. recession and weaker oil demand. The Biden administration plans to refill the U.S. Strategic Petroleum Reserve soon, and hopes to do it at lower oil prices, U.S. Energy Secretary Jennifer Granholm said on Wednesday. Still, the oil market was jolted higher two weeks ago after the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia agreed to curtail output. As a result, the global oil market could see tightness in the second half of 2023, which would push prices higher, said Fatih Birol, executive director of the International Energy Agency.

[1/2] The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File PhotoTOKYO, April 13 (Reuters) - Oil prices eased in early trading on Thursday after rising for the previous two sessions as investors remained cautious due to lingering concerns over a U.S. recession and weaker oil demand. Brent crude fell 19 cents, or 0.2%, at $87.14 a barrel by 0116 GMT, while U.S. West Texas Intermediate slid 16 cents, or 0.2%, to $83.10. However, the Fed's staff assessing the potential fallout of banking stress projected a "mild recession" later this year. Markets on Wednesday shrugged off a small build in U.S. crude oil stocks, attributing it in part to a congressionally mandated release of oil from the U.S. emergency reserve and lower exports at the start of the month.

☆ The rapid run-up in stocks prompts us to exit one position and to trim another
▼ + stars: | 2023-04-04 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

Shortly after the opening bell, we will be exiting our position in Devon Energy (DVN), selling 500 shares at roughly $53.71. Now that our trading restrictions have cleared, we are selling the rest of our Devon Energy position into its recent strength. Last month we laid out a few reasons why our plan was to part with Devon Energy but keep Pioneer Natural Resources (PXD) and Coterra Energy (CTRA). With our exit of Devon Energy, we'll realize an average loss of about 7.7% on our last remaining shares. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ At a Steam-Age Arsenal, U.S. Army Forges Cannons for a Digital Era, War in Ukraine
▼ + stars: | 2023-03-17 | by ( Daniel Michaels | Photographs Angus Mordant For The Wall Street Journal | ) www.wsj.com time to read: 1 min

WATERVLIET, N.Y.—On a military base more than two centuries old, the Army is hammering out its cannon of the future. The Watervliet Arsenal opened during the War of 1812 and one building dates to 1828. Yet inside an aging production hall, new digital machine tools that resemble science-fiction space pods are churning out components for Abrams tanks, a weapon pledged for fighting in Ukraine. In another hall, an automated forge pounds red-hot metal cylinders into 20-foot gun barrels for America’s next howitzers, which will lob shells more than 40 miles.

☆ Coterra, Pioneer report strong fourth quarters — but the verdict is out on how investors will respond to higher spending this year
▼ + stars: | 2023-02-22 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

That move prompted us to reduce our exposure to any potential post-earnings downside by trimming Coterra and Pioneer late last week. Fourth-quarter production Coterra Energy's oil-and-gas production came in above the high end of the company's guidance and edged out analysts' estimates, too. Notably, Pioneer doesn't hedge its oil production, making its realized pricing closer to that of the underlying commodity. 2023 outlook Guidance provided by Coterra and Pioneer echoed that of Devon: Softer production but higher capital expenditures in 2023. But it beat on expectations for oil production, which should please investors given the high margins of crude production.

[1/2] The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. natural gas tumbled about 18% in the first week of January, the biggest slide on record to start a year, according to Refinitiv Eikon data. The 12% drop in distillate futures , was the biggest dive to start a year since 1991. In natural gas, U.S. futures fell further on Friday, dropping 5% to $3.52 per million British thermal units during the session, its lowest since July 2021. This week, it forecast U.S. natural gas prices would drop to $4.00-$4.20 per million British thermal units in the second quarter through third quarter.

☆ U.S. oil production nears 12 mln barrels/day, at pre-pandemic high
▼ + stars: | 2022-10-31 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

[1/2] The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. President Joe Biden has called on oil companies to boost production to reduce fuel prices. A little over two years after the pandemic wrecked havoc on demand and slashed profits, four of the five largest global oil companies brought in roughly $50 billion in net income in the most recent quarter. Crude production rose 0.9% to 11.98 million bpd in August, highest since March 2020, the U.S. Energy Information Administration (EIA) said in monthly figures. In top oil producing states, monthly output rose 1.6% to 5.10 million bpd in Texas and 0.6% to a record 1.58 million bpd in New Mexico, but fell 0.5% to 1.06 million bpd in North Dakota.

☆ U.S. midterm outcome in certain states could affect approach to energy
▼ + stars: | 2022-10-26 | by ( Laila Kearney | ) www.reuters.com time to read: +5 min

States have taken the lead on climate in recent years in the absence of federal policy. But voters in some states are now worried about rising energy costs, while other states must reckon with poor air quality and higher emissions. If it flipped, it could increase renewable energy power generation, said Troy Rule, faculty director at Arizona State University's Program on Law and Sustainability. "That could open the door for an increase in the state’s Renewable Energy Standard, which at 15% renewables by 2025, now lags far behind most neighboring states," Rule said. If Republicans win, it would "effectively eliminate the prospect of any meaningful progress on Arizona renewable energy policy over the next couple of years," Rule said.

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