MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for December 19th

Updated at 5:00 PM ET 

HEADLINES:

— U.S. DOT Unveils Strategy for eVTOL aircraft

— Baker Hughes: North America Rig Count Down 13 on Week

— Nov US CPI Dips 0.3% on Yr; Gasoline Index Dn

NEWS:

U.S. DOT Unveils Strategy for eVTOL aircraft

The U.S. Department of Transportation has unveiled a strategy for advanced air mobility saying that the next two years will focus on the commercialization of electric aircraft that take off vertically.

“By 2027, there will be demonstrations and initial operations for contemporary aircraft as we leverage and modify our extensive airport infrastructure,” Transportation Secretary Sean Duffy said in a policy document issued Wednesday (12/17) towards creating an eVTOL – or electric Vertical Takeoff and Landing – environment.

The policy outlines 40 recommendations to safely and efficiently support advanced air mobility (AAM) operations built around the six key pillars of airspace, infrastructure, security, community planning and engagement, workforce and automation. The AAM category includes electric air taxis, drones and other aircraft typically operating below 5,000 feet, according to the statement.

The DOT plan follows an executive order signed by U.S. President Donald Trump in June called “Unleashing American Drone Dominance” to reshape the future of aviation.

Baker Hughes: North America Rig Count Down 13 on Week

North American drilling activity experienced a net loss of 13 rigs this week, after being unchanged the prior week, according to Baker Hughes’ weekly rig count report released on Friday (12/19) showed.

Total rigs operating across the U.S. and Canada fell to 727 from the prior week’s 740, the report showed. Year-on-year, North American rigs were down by 28 from the 755 noted for the same week of last year.

Rigs operating in the United States fell by six in the profiled week to 542. Year-on-year, U.S. rigs were lower by 47 from the prior count of 589 during the same week of last year.

U.S. oil-directed rigs fell by eight to 406 for the week. Gas rigs were unchanged at 127. Miscellaneous rigs were up by 2 to 9.

In North America, land-based drilling activity fell by four rigs to stand at 524 for the week. Offshore activity declined by 2 rigs to settle at 15. Activity in inland waters was unchanged for a second straight week at three. The Gulf of Mexico rig count slid by 2 to stand at 8.

Canada’s total rig count fell by seven week-on-week to 185, with oil-directed rigs fell by 4 to 119. Gas rigs slid by three to 66. Total rigs for Canada were 19 above last year’s level of 166.

EIA: Weekly Reports to be Delayed Until December 29

The Energy Information Administration announced late Thursday (12/18) that its weekly petroleum and propane market reports due on December 24 will be delayed until December 29 as part of its holiday schedule.

The Weekly Petroleum Status Report, the Heating Oil and Propane Update and the Winter Propane Market Update will all be published five days later than originally scheduled to accommodate the Christmas holiday on December 25, the EIA’s revised publishing schedule showed.