Gas prices down; Thanksgiving travel up
Average U.S. gasoline prices are the second-lowest in eight years, driving projected Thanksgiving weekend travel to levels not seen since before the Great Recession. U.S. regular-grade gasoline averaged $2.16 per gallon this week, up 6...
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North Sea oil glut diminishes as supplies move east
A glut of North Sea oil that’s helped depress global prices and heap pressure on OPEC is poised for short-term relief after traders booked tankers to take as much as half of the region’s key...
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Market Currents: US is 3rd largest recipient of OPEC oil
And it is Groundhog Day again, as the OPEC rumor-mill gets cranked up once more. Fortunately we get the welcome distraction of an inventory report tomorrow, while some respite follows that in the form of...
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Climbing oil prices shield most U.S. drillers from default, Fitch says
Rising oil prices have probably shielded most U.S. drillers from debt defaults next year, Fitch Ratings says. Energy companies have defaulted on $7.7 billion in leveraged loans, a certain category of higher-risk loans sold to...
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Pioneer denied request to reclassify oil wells
The Railroad Commission of Texas last week denied Pioneer Natural Resources’ request to reclassify several oil wells as gas wells, citing concerns that the company was looking to take advantage of a tax exemption for...
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