Mild weather and continuing strong supplies were pressuring natural gas prices Monday, which dropped 12.1 cents to settle on the Nymex at a level not seen since September, 2012 -- $2.882 per million British thermal units, and analysts told Platts the downward trend was likely to continue.
MOSCOW (AP) — The Eurasian Economic Union, a trade bloc of former Soviet states, expanded to four nations Friday when Armenia formally joined, a day after the union between Russia, Belarus and Kazakhstan began. The Russian-dominated bloc has been politically controversial and its early days are being overshadowed by the sharp deterioration of Russia's economy in recent months.
NEW YORK (AP) — Natural gas, the nation's most prevalent heating fuel, is getting cheaper just as winter is arriving because of mild temperatures and plentiful supplies.
The price of natural gas has dropped 29 percent in a month, to $3.17 per 1,000 cubic feet on Tuesday from nearly $4.50 in late November. That's a steep drop even for a fuel notorious for volatile price swings.
JERUSALEM (AP) — Israel's antitrust authority said Tuesday it will challenge the ownership structure of the country's natural gas resources, a decision that could rattle an increasingly important industry.
A conglomerate of companies including Texas-based Noble Energy and Israel's Delek Group has been developing Israel's offshore natural gas deposits, selling gas to the Israeli market and agreeing to sell to neighboring countries as well.
Other companies may have been pulling out of natural gas drilling, but Southwestern Energy and its CEO Steven Mueller are plugging away at existing wells and continue to expand shale drilling, The New York Times reports.
Exxon Mobil subsidiary XTO Energy has settled federal allegations that it illegally dumped fill dirt and other materials at natural gas well sites into wetlands and streams in West Virginia, the Environmental Protection Agency announced Monday.
The Ft. Worth, Texas-based company will pay a $2.3 million civil penalty and spend $3 million to clean up eight sites in three counties where it dumped the fill without a Clean Water Act permit from the Army Corps of Engineers. EPA said the penalty is one of the largest levied to date for unauthorized dumping of fill or dredged materials under the law.
With continued mild weather and the fear of frigid cold receding, natural gas prices slumped 31 cents to the lowest level in nearly two years, at $3.144 per million British thermal units, FuelFix reports.
Oil was little changed early Thursday, following a dramatic drop the day before that had been triggered by news of a big build in U.S. crude stockpiles. West Texas Intermediate crude for March delivery was up 8 cents to $44.53 a barrel in electronic trading on the Nymex, while in London Brent gained 34 cents to $48.81, Bloomberg reports.
Fifty conservative groups, led by the Koch-backed Americans for Prosperity, have sent a letter to Congress opposing the idea of increasing the federal gasoline tax to pay for highway infrastructure projects, USA Today reports.
Although the Commerce Department has cleared some companies to export lightly processed condensate, the Bureau of Industry and Security is asking questions of others, including Marathon Oil, people familiar with the matter have told Reuters.
A coalition of eight environmental and animal welfare groups -- including the Environmental Integrity Project and the Humane Society -- is suing the Environmental Protection Agency, demanding that EPA regulate emissions from large confined animal livestock facilities, The Des Moines Register reports.
The Republican-controlled House Natural Resources Committee has backed an amendment to the panel’s oversight plan – proposed by ranking member Rep. Raul Grijalva, D-Ariz. – saying that it will consider the impact of climate change on federal lands and natural resources, The Hill reports.
New Jersey lawmakers are moving bills through the state legislature that would override objections by the state Board of Public Utilities to the Fishermen’s Energy offshore wind project, the South Jersey Times reports.