Oil & Gas Industry News

The Interior Department said Tuesday it planned to seek information from the public and gauge commercial interest from companies in potentially exploring the area.

'Fundamentals do not explain Monday's dramatic sell-off or Tuesday's rip higher', said Eli Rubin, an analyst at EBW Analytics Group.

'TIPRO's new workforce data still indicated strong job postings for the Texas oil and natural gas industry', the Texas Independent Producers and Royalty Owners Association said.

Macquarie strategists are forecasting that U.S. crude inventories will be down by 3.4 million barrels for the week ending May 16.

India plans to spend 850 billion rupees ($10 billion) to purchase 112 crude carriers through 2040, people familiar with the matter said.

Traders remain cautious amid mixed signals on sanctions and global supply.

There were three drivers to yesterday's U.S. natural gas price pullback, Art Hogan, Chief Market Strategist at B. Riley Wealth, told Rigzone.

The DOE said it will proceed with issuing final orders on pending applications to export LNG to non-FTA countries.

'What this means for the oil price is rather foggy', said Bjarne Schieldrop, Chief Commodities Analyst at SEB.

The move comes as part of Monday's UK-EU summit.