Princess field starts production in Gulf of Mexico
Production began December 17 from the Princess subsea wells located about 140 miles southeast of Orleans. The initial phase includes one well and a subsea system. early output is about 2 9,000 barrels of oil and 170 million cubic feet of gas per day, with gross ultimate oil equivalent around standard figures and Terri owners listed with 16 percent stake.
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Factory orders drop sharply in November amid mixed signals
U S factory orders fell 4.4 percent in November after months of gains, led by a 42.1 percent plunge in communications. Durable goods declined 2.5 percent, the largest drop in over a year, while the services sector remained in positive territory.
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Wall Street Holds Gains in Quiet Holiday Session
Wall Street steadied in thin trading as investors booked profits from the New Year rally and awaited new catalysts. The Dow rose modestly to 10,533.66, while the Nasdaq and S&P 500 advanced. tech shares led gains amid cautious optimism. Analysts cited a lack of vigorous buying but continued upward bias, with attention turning to upcoming jobs data, retail sales, and earnings outlooks.
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Oil futures dip after volatile session and cold weather boost
Crude oil futures closed down 0.2 percent after a volatile session sparked by a trial of a price surge tied to cold U.S. Northeastern demand. February crude traded around $33.70 on the NYMEX after peaking near $34.19, with Brent at $30.82 on ICE. Analysts expect a modest distillate build and a draw in crude stocks, while weather remains the key driver.
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