Oil Markets Cautiously Cheer Possible OPEC Deal
Oil prices ticked higher as traders cautiously welcomed a potential deal among major exporters to cut production, offering relief to energy markets that have been laid low by the coronavirus pandemic.
Saudis, Russians Bury Differences, but Mexico Threatens Oil Deal
The two countries agreed in principle to lead a 23-nation coalition in massive oil-production cuts after a monthlong feud devastated oil prices. But Mexico abruptly exited the talks, jeopardizing a final pact.
Oil-Rig Count Fall Continues, Down 58 in Latest Week
The number of oil rigs in the U.S. fell by 58 in the past week to 504, according to Baker Hughes.
Franklin Prepares for Potential Chesapeake Debt Restructuring
Mutual-fund company Franklin Resources is taking steps to prepare for a potential debt restructuring or bankruptcy of indebted oil-and-gas driller Chesapeake Energy.
Natural Gas Falls as Storage Surplus Rises
Natural gas prices end the session 2.8% lower as investors worry about a rising surplus that could continue to grow as the low-demand spring season begins.
Key BP Deal Threatened by Buyer's Financing Snag
BP's sale of its Alaskan business is in jeopardy after a group of banks balked at financing the $5.6 billion deal to buyer Hilcorp Energy amid a historic rout of oil and gas prices, according to people familiar with the deal.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
Saudis Take Big Stakes in European Oil Companies
Saudi Arabia's sovereign-wealth fund has amassed stakes worth roughly $1 billion in four major European oil companies, buying assets it perceives as undervalued in a market depressed by the coronavirus and low oil prices.
Murray Energy Chairman's Salary Under Fire From Rival
Murray Energy Corp. is being criticized by a rival coal producer for paying founder and chairman Robert Murray more than $1 million a month while his bankrupt company seeks court permission to suspend payments for retiree medical costs.
Denbury Resources Hires Restructuring Advisers to Cope With Oil Crash
Denbury Resources has hired restructuring advisers to assist in addressing a $2.3 billion debt load as oil prices buckle under a global supply glut, according to people familiar with the matter.