(World Oil) – Ecopetrol SA plans to continue drilling for natural gas in Colombian Caribbean waters after partner Shell Plc exited three offshore blocks, betting on growing domestic demand and potentially lucrative reserves. Shell said in April it would pull out of the COL-5, Purple Angel and Fuerte Sur blocks as part of a “strategic” decision, ending its oil and gas
(Investing) – Oil prices retreated Thursday, handing back earlier gains after data showed the U.S. economy contracted in the first quarter, suggesting the Trump administration’s volatile trade policies were weighing on economic activity. At 09:15 ET (13:15 GMT), Brent oil futures for July fell 0.7% to $63.89 a barrel, and West Texas Intermediate crude futures dropped 0.6% to $61.47 a barrel. Oil was sitting on
Natural Gas Inventories as of May 23, 2025 The EIA has released its natural gas inventory report, showing a net increase of 101 Bcf as of May 23, 2025. Working gas in storage was 2,476 Bcf as of Friday, May 23, 2025, according to EIA estimates. This represents a net increase of 101 Bcf from the previous week. Stocks were
