U.S. oil prices settle back above $70 ahead of this weekend's OPEC+ output decision
Oil futures climb on Thursday, with U.S. prices settling back above $70 a barrel ahead of Sunday's OPEC+ decision on production levels, even as U.S. government data reveal an unexpected weekly rise in domestic crude supplies.
U.S. Crude-Oil Inventories Increase Sharply
Oil stored at Cushing, Okla., increased by 1.6 million barrels from the previous week to 38.9 million barrels, the EIA said
OPEC+ Cuts Could be More Painful
A change in behavior by U.S. oil producers could make a production cut by OPEC and its allies this weekend more effective in boosting oil prices.
Debt-Ceiling Bill Alters U.S. Environmental Law, in Boost to Energy Projects
Backers of permitting changes say the measure marks a good first step, but environmentalists are concerned about the inclusion of a natural gas pipeline in the bill.
Chevron Upgraded, Seen as a Good Defensive Oil Play. The Stock Rises.
RBC follows J.P. Morgan analysts in bumping the energy company's shares.
Natural Gas Falls to 4-Week-Low on Stubborn Storage Overhang
Natural gas prices fell 4.8% to settle at $2.158/mmBtu, the lowest closing price since May 5 and the sixth consecutive session of declines.
ESG Blowback: Exxon, Chevron Investors Reject Climate Measures
The shareholders' votes, along with others in Europe, deal a blow to activists.
Energy & Utilities Roundup: Market Talk
Find insight on Uniper, NRG Energy, Tenaga Nasional, and more in the latest Market Talks covering the Energy and Utilities sector.
U.S. Oil Enters World's Most Important Oil Benchmark
Oil from Texas will soon be part of the calculation known as Brent crude.
Analysts Expect 107 Billion-Cubic-Foot Rise in U.S. Natural-Gas Inventories
Government data are expected to show that U.S. natural gas inventories rose by 107 billion cubic feet in the latest week, according to a survey of analysts.
(END) Dow Jones Newswires
06-02-23 0015ET
