Oil Hits 12-Week-High on US-China Trade Speculation
U.S. benchmark oil prices staged a late-session rally to close 5.3% higher on hopes U.S. and China will remain important trading partners even as the two countries bicker over issues such as Hong Kong and the coronavirus.
U.S. Oil-Rig Count Fell by 15 in Latest Week
The number of rigs drilling for oil in the U.S. fell by 15 to 222 in the latest week, according to oil-field services company Baker Hughes.
Occidental Nearly Eliminates Dividend Amid Low Oil Prices
The oil producer, laden with debt following its deal to buy rival Anadarko, plans to pay a quarterly dividend of just 1 cent a share in July as it seeks to conserve cash amid low oil prices and weak demand.
Cost of Shipping Oil Tumbles as Production Cuts Bite
Charter prices for vessels that transport crude oil have dropped 77% from their March peak, which came during a short-lived battle for a greater share of the oil market between Saudi Arabia and Russia.
Renewable Power Seen as Resilient to Coronavirus-Driven Demand Drops
In the UK, the pandemic and lockdown measures have dampened electricity use and led to a proportional increase in the use of cleaner sources
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
Coronavirus Outbreaks Threaten Oil Majors' Biggest Projects
Oil companies including Chevron, Exxon, Shell and Total are scrambling to cope with coronavirus outbreaks among their workers that could threaten the profitability of some of their largest projects.
Global Glut Keeps a Lid on Natural-Gas Prices
Mild May weather has limited domestic demand, brimming storage facilities abroad have reduced exports and the flow from oil wells hasn't declined by as much as expected.
U.S. Crude-Oil Inventories Rise Sharply
U.S. inventories of crude oil unexpectedly surged higher even as refinery activity increased, according to data released Thursday by the Energy Information Administration.
U.S. Consumed More Renewables Than Coal for First Time in 134 Years
The U.S. consumed more renewable energy than coal last year, something that hasn't happened since 1885, according to the Energy Information Administration.