Energy Update
May 13 (Reuters) - U.S. natural gas speculators boosted net
long positions for the first week in three, betting prices will
rise as production eases and demand picks up, absorbing some of
the record amount of fuel left in inventories after a warm
winter.
When electricity rates went up last month for 1.4 million customers of the Los Angeles Department of Water and Power customers, about $150 million of the rate increase was earmarked for a novel energy supply that officials hope will become more commonplace.
May 13 (Reuters) - U.S. natural gas speculators boosted net
long positions for the first week in three, betting prices will
rise as production eases and demand picks up, absorbing some of
the record amount of fuel left in inventories after a warm
winter.
BONNYVILLE, Alberta, May 13 (Reuters) - Canadian Prime
Minister Justin Trudeau, getting a first-hand look at the damage
from a devastating wildfire, praised firefighters on Friday for
defending the energy hub of Fort McMurray.
WASHINGTON, May 13 (Reuters) - Donald Trump on Friday pushed
back against renewed calls that the presumptive Republican
presidential nominee release his income tax returns before the
election, and picked a prominent climate change skeptic to help
him formulate his energy policy.
HOUSTON, May 13 (Reuters) - The wave of U.S. oil and gas
bankruptcies surged past 60 this week, an ominous sign that the
recovery of crude prices to near $50 a barrel is too little, too
late for small companies that are running out of money.
OSLO, May 13 (Reuters) - An investigation into the cause of
a fatal North Sea helicopter crash is focusing on the parts of
the aircraft that connected the rotor blades to the main body of
the helicopter, investigators said on Friday.
(Adds U.S. land rig count from Baker Hughes)
By Scott DiSavino
May 13 (Reuters) - U.S. oil drillers cut rigs for an eighth
week in a row to the lowest level since October 2009, oil
services company Baker Hughes Inc said Friday, even with
futures at six-month highs as some energy firms focus on
completing wells rather than drilling new ones.
Drillers cut 10 oil rigs in the week to May 13, bringing the
TORONTO, May 13 (Reuters) - Portfolio managers see value in
Alberta government bonds after a massive wildfire in the oil
sands region spooked investors already worried by the Canadian
province's oil-related contraction and rising deficit.
By Scott DiSavino
May 13 (Reuters) - U.S. oil drillers cut rigs for an eighth
week in a row to the lowest level since October 2009, oil
services company Baker Hughes Inc said Friday, even with
futures at six-month highs as some energy firms focus on
completing wells rather than drilling new ones.
Drillers cut 10 oil rigs in the week to May 13, bringing the
total rig count down to 318, Baker Hughes said in its closely
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