James Williams News
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U.S. natural gas prices, pushed to a record high after hurricanes Katrina and Rita barreled through the Gulf of Mexico eight years ago, are now more vulnerable to winter freezes than tropical storms after production moved onshore with the growth of drilling in shale formations.
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The number of oil rigs in the U.S. declined for the first time in four weeks as oil prices fell to their lowest level this year, according to Baker Hughes Inc.
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Retail gasoline prices in the U.S. dropped to the lowest for this season in three years after crude futures capped the biggest weekly drop in six months.
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Olympic athletes who spend years toiling in the quest for gold medals can encounter a greater challenge when they retire from competition.
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Gas rigs in the U.S. jumped by the most in more than three years as futures capped a fourth weekly gain and drilling in Louisiana and Oklahoma increased.
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The shale boom that sent natural-gas prices to a 10-year low is being felt for the first time in the oil markets.
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Oil rigs in the U.S. advanced to the highest level since December as energy producers, responding to a $10-a-barrel rise in crude prices over the last three months, picked up drilling activity in shale plays.
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Oil rose for the first time in four days as the U.S. economy expanded more than previously estimated last quarter and on optimism that President Barack Obama will reach an agreement with Congress over a new budget.
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Oil and gas rigs in the U.S. fell for a third straight week to the lowest level since January after producers moved equipment out of gas plays.
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Natural gas rigs in the U.S. advanced in November for the first monthly gain in more than a year with gas prices up almost 20 percent in 2012.
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