Oil Gains on Geopolitics, Rising U.S. Equities
Oil prices rose as geopolitical tensions and rising stock prices on Wall Street offset bearish data showing U.S. oil inventories are at a 20-month high.
U.S. Natural-Gas Inventories Seen Up in Week
Government data are likely to show that natural-gas inventories increased by 107 billion cubic feet last week, an amount similar to the same time last year amid typically low springtime demand.
U.S. Oil Inventories Unexpectedly Surge Higher
U.S. inventories of crude oil unexpectedly increased last week, but gasoline stockpiles declined, according to data Wednesday by the Energy Information Administration.
U.S. Embassy in Iraq Orders Staff to Leave as Iran Tensions Rise
The U.S. ordered all its nonemergency diplomatic staff to leave Iraq immediately, as tensions rise with Iran over recent attacks against oil tankers and facilities in the Persian Gulf region.
IEA Cuts Oil Demand Forecast as Supply Tightens
Global oil supply dropped in April as falling production from sanction-hit Iran and dwindling supply in non-OPEC nations buoyed crude prices to a five-month high.
In U.S.-Iran Standoff, Gulf States Steer Clear of Confrontation
Saudi Arabia and its Persian Gulf allies haven't called for a confrontation with Iran over recent attacks in the region that the U.S. has blamed on Tehran, a tact that reflects their limited appetite for another conflict in the war-racked region.
MGE Aims for Net-Zero Carbon Electricity by 2050
MGE Energy's Madison Gas and Electric said it set a goal of net-zero carbon electricity for its customers by 2050.
Energy & Utilities Roundup: Market Talk
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RWE On Track After Strong 1Q
RWE said its adjusted net income in the first quarter rose to EUR273 million, driven by a good overall trading performance, and confirmed its 2019 forecasts.
OPEC Oil Production Falls as Iranian Supply Dwindles
In its closely watched monthly oil market report, OPEC said supply fell from Iran and Saudi Arabia in April but the drop was mostly mitigated by rising output from Nigeria and Iraq.