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New pipeline expansions in Texas are alleviating a natural gas glut in the Permian Basin, with the Waha hub price turning positive in June after averaging negative $2.19 per MMBtu in the first half of the year.
Tesla maintained its Bitcoin holdings at 11,509 BTC during the second quarter while recording a $112 million after-tax loss as the cryptocurrency declined roughly 14% during the period.
Global refiners including Phillips 66 and Reliance Industries are bypassing commodity traders to purchase Venezuelan crude directly from PDVSA, eroding the market dominance previously held by Trafigura and Vitol.
NovaGold surged 10.30 percent to close at $6.21 after acquiring a 40 percent stake in Alaska’s Donlin Gold project through a $4.2 billion all-share transaction with Paulson Advisers.
Santos narrowed its full-year production guidance to 99-105 million barrels of oil equivalent as its Barossa LNG and Alaska Pikka projects advanced through commissioning phases.