Light, sweet crude prices fell on the New York market Oct. 9 while Brent crude prices gained on the London market as oil investors awaited the resumption of US-China trade talks, scheduled for Washington, DC, on Oct. 10-11.
Turkish Petroleum has moved one of its two drillships onto Block 7 off southern Cyprus, where the Cypriot government last month authorized drilling by a combine of Eni and Total. Turkey claims the block and much of Cyprus’s exclusive economic zone.
The Appalachian basin contains an estimated mean of 214 tcf of undiscovered, technically recoverable gas in the Marcellus and Utica shale formations, the US Geological Survey reported. The estimates represented a marked increase from its previous reports.