Oil Ticks Down After Hitting Multi-Month Highs

Brent crude oil was down 0.6% and WTI futures were down 0.7% after both settled multi-month highs Tuesday following an agreement between European leaders on an economic stimulus package to stave off the effects of Covid-19. 


 
U.S. Crude-Oil Stockpiles Seen Down in Week

Government data are expected to show that U.S. oil inventories fell by 1 million barrels in the latest week, while gasoline stockpiles are seen decreasing by 1.8 million barrels, according to a survey of analysts. 


 
Supply Cuts Boost Canadian Oil Producers

Growing demand is pushing up prices for crude in Canada, helped by producers' cutbacks in the spring. 


 
Ohio House Speaker Arrested on Racketeering Charges

Larry Householder, a Republican, and several associates were arrested on racketeering charges related to a $1.5 billion bailout of two Ohio nuclear plants. 


 
Permian Tank, Goldman-Backed Oil-Industry Supplier, Files for Bankruptcy

The Odessa, Texas-based maker of storage tanks for energy exploration and production businesses sought protection from creditors Sunday in U.S. Bankruptcy Court in Wilmington, Del. 


 
Fracking Contractor BJ Services Slides Into Bankruptcy Wind-Down

TES Asset Acquisition, LLC, an affiliate of BJ Services' part-owner CSL Capital Management LP, has made an offer for some of the company's active fracking operations. 


 
Chevron Agrees to $5 Billion Takeover of Noble Energy

Chevron agreed to buy Noble Energy, in what would be the largest oil-patch tie-up since the coronavirus pandemic delivered a shock to the industry. 


 
ArcLight-Backed Shale Driller Bruin Seeks Chapter 11 Protection

Bruin E&P Partners LLC filed for bankruptcy protection with a prepackaged restructuring deal that hands nearly all equity interests to senior-most lenders, underscoring the depressed valuations across the U.S. energy sector. 


 
Exelon Unit to Pay $200 Million to Settle Illinois Bribe Case

Exelon's Commonwealth Edison unit agreed to pay a $200 million fine for a long-running bribery scheme in which the utility gave jobs and contracts to associates of Illinois House Speaker Michael Madigan, the U.S. attorney's office for the Northern District of Illinois said. 


 
U.S. Oil-Rig Count Falls by One in Latest Week, Baker Hughes Says

The number of rigs drilling for oil in the U.S. fell by one in the past week to 180, according to oil-field services company Baker Hughes.