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. 


 
Puerto Rico Closes In On Electric Service Privatization

Puerto Rico's bankrupt power utility is close to 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, people familiar with the matter said. 


 
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. 


 
U.S. Sanctions Firms, Tankers It Accuses of Exporting Venezuelan Oil

The Trump administration on Thursday blacklisted more than a dozen individuals, their businesses and tankers alleged to have been involved in as much as 40% of Venezuela's crude-oil exports in recent weeks. 


 
Sasol to Cut Jobs, Focus on Chemicals, Energy

Sasol said it will discontinue all oil growth activities in West Africa, cut jobs and focus on its core portfolios of chemicals and energy as part of its new strategy.