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U.S. natural gas futures surged the most since late October as one energy trader warned that "winter isn't over," with another wave of cold air set to spill into the eastern half of the Lower 48 early next week. The upcoming cold blast arrives even as much of the U.S. enjoys a brief warm-up following an early-month polar vortex that plunged large parts of the U.S. East into Arctic-like conditions. "Winter isn't over yet. Here are forecast anomalies for this time next week showing a large area of unseasonably chilly temperatures across the major…
The total number of active drilling rigs for oil and gas in the United States rose by 3 this week, according to new data that Baker Hughes published on Tuesday, bringing the total rig count in the US to 545 this week, down 44 from this same time last year. The number of active oil rigs rose by 3 in the reporting period, according to the data, after US drillers saw an 8-rig decline in the week prior. Oil rigs are now at 409, which is 74 below this same time last year. The number of gas rigs stayed the same at 127, which is 25 more than this…
Shares of Trump Media & Technology Group Corp. (NYSE:DJT) have surged nearly 70% after the company agreed to merge with fusion startup TAE Technologies in a $6 billion deal. Under the terms of the deal, shareholders of each company will own roughly half of the combined entity on a fully diluted equity basis. Trump Media, majority owned by U.S. President Donald Trump, will now become the holding company for TAE Power Solutions and TAE Life Sciences alongside current holdings Truth Social, Truth+ and Truth.Fi. Founded in 1998, TAE Technologies…
Oil tankers are diverting from their route to Venezuela; some are sitting idle at ports instead of setting off for Asia; discounts on Venezuelan crude are deepening; and PDVSA may soon start shutting down wells for lack of storage space. President Trump’s military campaign against Venezuela is threatening an $8-billion market. It started with one tanker seizure, a week ago. Then Trump escalated the rhetoric, threatening a blockade on Venezuelan tanker traffic and demanding that Venezuela returned “Oil, Land, and other Assets that they…
There are rising concerns that the United Kingdom’s gas security is under threat and that not enough is being done to mitigate the risk. Chris O’Shea, the CEO of Centrica, which owns British Gas, has called the government out for not paying enough attention to a gas report that was released on the same day as the annual budget, suggesting that not enough is being done to ensure the future of the U.K.’s gas supply, which could be devastating to consumers. A 50-page report from the National Energy System Operator (Neso) was released…
