Energy Update
June 25 (Reuters) - UK's Wood Group Plc said its results in the first half of 2015 would be lower than a year earlier, as the energy services firm has been hit by the weakness in oil and gas activity globally.
Is the Obama administration moving away from the conventional thinking on future reserves of US crude?
(Thu, 25 Jun 2015) Increased refinery runs?based on increases in both capacity and utilization?have helped accommodate increases in U.S. crude oil production. The United States' capacity to refine crude oil into petroleum products?measured as operable atmospheric crude distillation unit capacity?increased by 0.2% in 2014, reaching 18.0 million barrels per calendar day, according to EIA's recently released annual Refinery Capacity Report.
--Clyde Russell is a Reuters columnist.
NEW YORK, June 25 (Reuters) - Two big trades in oil options worth nearly $60 million last week boosted volatility in that market and revived speculation among traders that U.S. producers are placing hedges to guard against another price rout this fall.
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