WTI Oil Drops Below $38 on Glut, U.S. Equities
U.S. benchmark oil prices ended the session 5.8% lower as investors got rattled by U.S. crude inventories climbing to another record high, and new coronavirus infections potentially impeding the demand recovery.
U.S. Crude-Oil Inventories and Production Increase
Crude-oil stockpiles rose by 1.4 million barrels, reaching a record-high for the third straight week, and U.S. oil production rebounded from a tropical storm-caused decline, government data showed.
'Massive' Forgery Helped Hide $3 Billion Hole in Energy Trader's Books
A distressed energy-trading company overstated its assets by more than $3 billion using "routine and pervasive" forgery, while its founder oversaw years of disastrous bets on oil derivatives, a report filed with a Singapore court said.
Green Energy Is Finally Going Mainstream
The question for investors now is not whether carbon-free power is here to stay but how to avoid getting burned.
Analysts Expect 105 Billion Cubic-Foot Injection in Natural-Gas Storage
U.S. government natural-gas data due Thursday are expected to show inventories rose last week by 105 billion cubic feet -- well above normal as demand weakened due to mostly mild weather and coronavirus prevention measures.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
Drax, Mitsubishi Launch Biomass Pilot Project in Yorkshire
Drax is partnering with Mitsubishi Heavy Industries to develop a bioenergy with carbon capture and storage pilot project at its incubation area in North Yorkshire.
Amazon to Launch $2 Billion Venture Capital Fund for Clean Energy
Amazon.com, criticized for its own environmental record, is launching a $2 billion internal venture-capital fund focused on technology investments to reduce the impact of climate change.
Templar Energy Gets $65 Million Stalking-Horse Bid From Tapstone
Shale driller Tapstone Energy, which recently completed a $450 million debt restructuring, is offering $65 million as the lead bidder to buy the assets of Templar Energy out of bankruptcy.
GIP, Brookfield Invest $10 Billion in Abu Dhabi Gas Infrastructure
The consortium will acquire a 49% stake in gas pipelines operated by the United Arab Emirates' national oil company, a deal that marries yield-hungry funds with a country battered by low oil prices and the coronavirus pandemic.
