Oil Tops $40 as U.S. Economy Rebounds

U.S. benchmark oil prices settled above $40 a barrel for the first time since early March, closing 1.8% higher as states continue to reopen their economies despite an uptick in coronavirus cases amid increased testing. 


 
Chevron's Saudi-Kuwait Venture Plans Restart Exports in July

Chevron is set to resume oil exports in July from a long-dormant operation it shares with the governments of Saudi Arabia and Kuwait, oil officials said. 


 
Mexican Antitrust Agency Challenges Government on Electricity

Mexico's antitrust commission has turned to the Supreme Court to challenge new government rules for the electricity sector which it says restrict competition in the market in violation of the constitution and energy laws. 


 
Puerto Rico Puts Private Firms in Charge of Public Power

Puerto Rico's bankrupt public power utility signed a long-term deal to outsource the business of delivering electricity, making an expensive bet that private operators can curb the high costs and service problems that have long plagued consumers. 


 
Chinese Energy Company Defaults on Dollar Bonds

Hilong Holding, a provider of oil-field services and equipment, said it wouldn't be able to repay holders of a maturing dollar bond-the latest offshore default by a Chinese borrower. 


 
Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities 


 
U.S. Oil-Rig Count Falls by 10 in Latest Week, Baker Hughes Says

The number of rigs drilling for oil in the U.S. fell by 10 in the past week to 189, according to oil-field services company Baker Hughes. 


 
U.N. Condemns Iran Over Nuclear Activity, Fueling U.S. Calls to End Deal

Member states from the United Nations atomic agency board voted to condemn Iran for failing to cooperate with its probe of Tehran's nuclear activities, a move that gives the Trump administration fresh ammunition in its push to kill the Iranian nuclear deal. 


 
Marathon in Talks With Potential Buyers of Speedway Unit

Marathon Petroleum is in discussions with potential buyers of its Speedway gas-station unit, reviving a sale that fell apart in the early stages of the coronavirus crisis. 


 
Shale Driller Chisholm Files for Chapter 11 Bankruptcy

Private-equity-owned Chisholm Oil & Gas has become the latest shale driller to file for bankruptcy, pushed into chapter 11 by a decline in commodity prices and production challenges in Oklahoma.