Oil prices end at 1-week low as demand worries overshadow decline in U.S. crude supplies

Oil futures fell to their lowest finish in over a week on Wednesday, as demand concerns from rising cases of COVID-19 and the potential for more economic overshadowed smaller-than-expected declines in U.S. crude supplies. 


 
U.S. Crude-Oil Inventories Decline Near Expectations

Government data showed U.S. inventories of crude oil declined by 1 million barrels last week, near analysts' forecasts, while domestic crude-oil production dropped below 10 million barrels a day. 


 
SPACs Will Have a Tough Time Cleaning Up on Renewables

Investor appetite for sustainable investments and yield have both been huge lately, but there have hardly been any debuts of cash-generating renewable-energy companies recently. Could SPACs be the answer? 


 
Iberdrola's Avangrid to Buy PNM Resources

Iberdrola's Avangrid unit has agreed to buy New Mexico-based electricity company PNM Resources for around $4.32 billion. 


 
Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities 


 
Pioneer Natural Resources to Buy Parsley Energy for $4.5 Billion

The deal is the latest in a series of combinations in the U.S. shale-oil patch, which has been hard hit by the pandemic. 


 
U.S. Broadens Sanctions to Thwart Completion of Russian Gas Pipeline

The State Department's broader sanctions target the Nord Stream 2, an unfinished Russian-backed natural-gas pipeline that has been a source of tension between Germany, Russia and the U.S. 


 
Pioneer Natural Resources Is in Talks to Buy Parsley Energy

The two oil-and-gas companies, shale producers that operate in the Permian Basin of Texas and New Mexico, are discussing an all-stock deal that could be completed by the end of the month, according to people familiar with the matter. 


 
ConocoPhillips to Buy Shale Rival Concho for $9.7 Billion

The all-stock transaction would be the largest U.S. oil deal since the pandemic began roiling energy markets, as companies seek to bulk up to ride out weak demand and low prices. 


 
Venezuelan Opposition Loses Bond Ruling, Endangering Citgo

A U.S. judge said bondholders have valid claims over Venezuela's prized oil refiner Citgo, dealing a blow to the country's U.S.-backed opposition leaders and putting the company at heightened risk of a forced takeover.

(END) Dow Jones Newswires

10-21-20 1615ET