Natural Gas

Oil

Oil prices jump above $104; natural gas sinks

The price of oil rose more than a $1 for the third time in the last four trading days, and closed above $104 for the first time since July 3.

Benchmark U.S. crude for August delivery rose $1.46 to $104.59 on the New York Mercantile Exchange. On Friday, the Nymex contract fell 6 cents to $103.13. Oil has gained 4.6 percent over the past four trading sessions.

Brent crude for September delivery, a benchmark for international oils, gained 44 cents to $107.68 on the ICE exchange in London.

Syrian gas field target for deadly fight

Source: 
The Wall Street Journal

A battle over the control of gas production east of Homs has claimed more than a hundred lives over two days, opposition activists and government-aligned media in Syria said, The Wall Street Journal reports.

TETRA unit to buy Compressor for $825M

Source: 
FuelFix

Compressco Partners, a unit of TETRA technologies, on Sunday announced an $825 million deal to acquire Compressor Systems, Inc. and its fleet of natural gas compressors, FuelFix reports.

Oil

GE 2Q profit jumps 13 pct on aviation, oil and gas

NEW YORK (AP) — General Electric's net income rose 13 percent in the second quarter on strong performance from its aviation and oil and gas divisions. The company said orders, especially those in developing countries, were strong and that the global economic environment continues to be positive.

Second-quarter profit increased to $3.55 billion, or 35 cents per share, from $3.13 billion, or 30 cents per share, in the same quarter a year ago.

EPA Inspector General ignores GOP request to stop fracking investigation

The Environmental Protection Agency's Inspector General has issued a strong defense of his investigation of hydraulic fracturing, ignoring a Republican request that he stop the probe and rejecting charges that the study is inappropriate and a waste of money.

"This review ls consistent with the OIG's responsibilities to oversee the programs of the EPA," wrote EPA IG Arthur Elkins, Jr., in response to a letter from a group of Republican senators.  "The OIG does not consider its evaluation as a duplication of prior or ongoing work."

Oil

Ranking US states by job creation in past 5 years

WASHINGTON (AP) — Since the Great Recession officially ended in June 2009, the U.S. economy has generated 7.8 million jobs. But the gains haven't been spread evenly across the country.

Some states have boomed. Others have struggled to add jobs.

North Dakota, benefiting from an oil and gas drilling boom, has created nearly 98,000 jobs over the past five years, a 27 percent increase -- by far the best in the country. New Mexico, hard hit by federal spending cuts, is the only state that has lost jobs since the recession ended.

Oil

Oil price remains high on global turmoil

NEW YORK (AP) — The price of oil retreated slightly Friday but remained elevated because of political turmoil around the world.

Concern that conflicts and rising tensions in the Ukraine and the Middle East could disrupt supplies sent oil prices higher this week, though the world appears to have an ample supply of crude and supplies have not been affected.

High stakes for LNG firms in Ex-Im Bank debate

Source: 
E&E

A battle in Congress over whether or not to reauthorize the Export-Import Bank has high stakes for liquefied natural gas projects, as some U.S. energy companies building such projects overseas are among beneficiaries of the bank's loans, E&E reports.

European gas and coal see hike after plane crash

Source: 
Reuters

The crash of a Malaysian Airlines passenger over Eastern Ukraine has hit energy prices in Europe, with coal and natural gas prices soaring in several countries on fears of escalating tension between Russia and Ukraine, Reuters reports.

Oil

Oil price above $102 after US inventories fall

The price of oil rose above $102 per barrel Thursday after a U.S. inventories report showed a larger-than-expected drop in crude oil supplies.

Benchmark U.S. crude for August delivery was up 85 cents at $102.05 a barrel at 0855 GMT in electronic trading on the New York Mercantile Exchange. The contract added $1.24 to $101.20 on Wednesday.

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