74.7 F
Fort Worth
Sunday, September 27, 2020
- Advertisements -
Energy Oil rises to $88; natural gas up 4 percent

Oil rises to $88; natural gas up 4 percent

Other News

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for September delivery rose 31 cents to settle at $41.60 a barrel Monday. Brent crude...

Trump to discuss energy, tour oil rig, raise money in Texas

By DARLENE SUPERVILLE Associated PressWASHINGTON (AP) — President Donald Trump will shift his focus to American energy dominance during a stop in...

Basic Energy Services makes organizational changes

Fort Worth-based Basic Energy Services, Inc. (OTCQX: BASX) in late May announced the implementation of changes to the organizational structure of the...

Texas oil producers were cutting output before Railroad Commission chose not to, Commissioner Christi Craddick says

By Cassandra PollockMay 12, 2020 Texas Railroad Commissioner Christi Craddick on Tuesday doubled down on the agency’s recent decision...
Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

NEW YORK (AP) — Oil rose from a four-month low Thursday, while natural gas soared to the highest level in 21 months on signs of robust demand for the fuel.

By early afternoon in New York, U.S. benchmark oil for May delivery was up $1.26, or 1.6 percent, to $87.94 a barrel. Oil dropped $2.04, or 2.3 percent, on Wednesday — the fourth daily drop of at least 2 percent in April.

Concerns over global economic growth have caused the price of oil and other commodities to drop sharply. This week China reported slower-than-expected economic growth while the International Monetary Fund lowered its outlook for world economic growth for this year.

Natural gas futures rose 19 cents, or 4.5 percent, to $4.41 per 1,000 cubic feet. The last time natural gas hit that level was July 2011.

The Energy Department’s Energy Information Administration reported that natural gas in storage grew by 31 billion cubic feet to 1.704 trillion cubic feet for the week ended April 12.

Supplies typically rise in the spring, but last week’s increase was less than analysts expected. Homeowners in some parts of the country still needed to turn the heat on as temperatures dropped below normal.

In London, Brent crude, which is used to price oil used by many U.S. refiners, was up $1.49, or 1.5 percent, to $99.18 on the ICE Futures exchange.

In other energy futures trading on the New York Mercantile Exchange:

— Gasoline was flat at $2.73 per gallon.

— Heating oil rose 3 cents to $2.76 a gallon.

___

Pamela Sampson in Bangkok and Pablo Gorondi contributed to this report  

- Advertisements -
- Advertisements -

Latest News

Permian investments grow as market shows signs of recovery

CARLSBAD, N.M. (AP) — An American energy investment company has pledged $8.5 million to develop oil and gas assets in the Permian...

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for November delivery rose 33 cents to $39.93 a barrel Wednesday. Brent crude oil for...

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for October delivery rose 81 cents to $40.97 a barrel Thursday. Brent crude oil for...

U.S. Energy Development Corp. announces $8.5 million deal in the Permian Basin

U.S. Energy Development Corporation, an exploration and production firm that provides direct investments in energy, has announced an interest in a horizontal...

Closing prices for crude oil, gold and other commodities

The Associated PressBenchmark U.S. crude oil for October delivery fell 7 cents to $37.26 a barrel Monday. Brent crude oil for November...