Singapore: Brent crude rose for a sixth straight session on Tuesday August 30, 2011, buoyed by a landmark bank merger deal in Greece and strong data from the United States that allayed fears the world’s top oil consumer was sliding back into recession.

Oil prices were also supported by a rally in stock markets with money switching back to riskier assets after U.S. data showed consumer spending in the world’s largest economy rose at its fastest pace in five months in July.

Brent October crude was up 13 cents to $112.01 a barrel by 6:2am. Read more »

Visiting Rotary Club speaker Ed Ireland provided an overview of the Barnett Shale and drilling techniques during Wednesday’s meeting.

Ireland, executive director of the Barnett Shale Energy Education Council, said the Fort Worth-area shale is still the largest-producing natural gas field in America, though the Eagle-Ford Shale of South Texas and the Marcellus Shale, still in development in Pennsylvania,, may soon overtake it.

But Ireland said much of the technology oil and natural gas drillers will employ in future endeavors began in the North Texas development. Read more »

Oil prices fell slightly to near $85 a barrel Wednesday August 23, 2011 in Asia after a U.S. supply report gave mixed signs about demand for crude.

Benchmark oil for October delivery was down 36 cents to $85.08 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose $1.02 to finish at $85.44 on Tuesday.

In London, Brent crude for October delivery was down 11 cents to $109.20 on the ICE Futures exchange. Read more »

Tuesday’s earthquake had no impact on Marcellus Shale drilling operations in Pennsylvania.
   
“The earthquake in Virginia that was felt in parts of Pittsburgh had no impact on our operations,” said Matt Pitzarella, spokesman for Range Resources. 
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