Oil Falls from 3-Month-High
U.S. oil prices give up earlier gains to ended 0.9% lower at $40.37 a barrel as investors worried a weekly inventory report due Wednesday may show U.S. crude stockpiles rose to a record-high for a third straight week.
U.S. Crude-Oil Stockpiles Likely to Rise in DOE Data, Analysts Say
U.S. crude-oil stockpiles are expected to increase by 600,000 barrels while gasoline stockpiles are expected to decrease by 1.6 million barrels in data due Wednesday from the Energy Department, according to a survey of analysts and traders.
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.
Petroleum Refiners Pose Hurdle to Oil's Recovery
The recovery has lifted shares of energy companies and relieved some of the stress on oil-dependent economies such as Russia and Saudi Arabia. It is also squeezing profits at refiners, crimping a key source of demand for crude and potentially preventing prices from marching much higher.
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.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
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.
