The benchmark Crude WTI is up 0.91% to $87.28 today at 5.17 a.m. EST. continuing its march towards $90 levels.
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Occidental Petroleum (OXY) is setting up a carbon removal plant with a capacity of 500 thousand tons a year in the Permian Basin. The plant, which will be the largest in the world is expected to be operational by the end of 2024.
BP (BP) has posted a third-quarter EPS of $2.59 while also announcing a share buyback of $2.5 billion. The bottom line figure was better than estimates by $0.64. Additionally, the top line jumped 52.4% year-over-year to $55.11 billion during this period.
U.S. natural gas, in the meantime, is now down ~3.2% to $6.15. Prices continue to display strength on expected colder weather this month and robust demand for U.S. exports.
Here are related tickers for this article:
- United States Oil Fund LP (USO)
- ProShares Ultra Bloomberg Crude Oil (UCO)
- United States Natural Gas Fund LP (UNG)
- Cheniere Energy (LNG)
- Exxon (XOM)
- Chevron (CVX)
- Energy Select Sector SPDR ETF (XLE)
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