Oil Under Pressure as Global Equities Wobble
Oil futures fell in tandem with a decline in global equities after holding their own following a decision by the Organization of the Petroleum Exporting Countries and its allies to begin trimming production cuts next month.
Natural Gas Prices Rise for 3rd Day
Natural gas prices are rising for a third consecutive session as investors gear up for weekly EIA inventory data that could show a further narrowing of a 17% storage surplus.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
Energy-Focused Firms Struggle to Raise Capital
Institutional investors are avoiding traditional energy-focused funds due to low oil prices, poor returns and increasing concerns on the environment.
California Resources, State's Largest Driller, Files for Bankruptcy
California Resources Corp., the state's largest oil driller, filed for bankruptcy protection on Wednesday to carry out a prearranged restructuring proposal that would wipe out more than $5 billion in debt and equity interests.
OPEC and Russia-led Oil Alliance Agree to Increase Production
An alliance of crude producers led by Saudi Arabia agreed to increase oil production starting in August, officials in the group said, amid signs that demand is recovering following coronavirus-related lockdowns.
Oil Prices Rise on Vaccine Hopes, Falling Inventories
U.S. crude prices hit a fresh 4 1/2 -month high with investors hoping for faster-than-expected coronavirus vaccine development and weighing a sizable drop in domestic crude stockpiles.
U.S. Crude-Oil and Fuel Inventories Fall Sharply
Crude-oil stockpiles fell by 7.5 million barrels to 531.7 million barrels. That leaves inventories about 17% above the five-year average, the the Energy Information Administration. Analysts predicted crude stockpiles would fall by just 1.3 million barrels from the prior week.
Pompeo Lifts Sanctions Exemption From Nord Stream 2 Pipeline
Secretary of State Mike Pompeo said a sanctions exemption will be removed for a Russian natural-gas pipeline to Germany, paving the way for new penalties to be imposed on the contentious project.
Jump in Coronavirus Cases Could Jeopardize Oil Market Recovery, OPEC Says
Even a record-breaking rise in oil demand next year won't be enough to spur a recovery back to pre-coronavirus levels, according to the Organization of the Petroleum Exporting Countries.
