Oil futures climb back to more than 2-year highs, with U.S. prices above $70 a barrel

Oil futures climb back to their highest levels in more than two years on Tuesday, with U.S. prices settling above $70 a barrel, buoyed by expectations for further improvement in U.S. energy demand. Prices also got a boost after the Energy Information Administration raised its 2021 oil-price forecasts. 


 
Colonial Pipeline's Recovery From Hack Not Yet Complete

CEO Joseph Blount told lawmakers that work on the company's computer systems continues, and he defended his decision to pay ransom to the hackers. 


 
U.S. Crude-Oil Stockpiles Likely to Fall in DOE Data, Analysts Say

U.S. crude-oil stockpiles are expected to decrease by 2.3 million barrels while gasoline stockpiles are expected to rise by 300,000 barrels from the previous week in data due Wednesday from the Energy Department, according to a survey of analysts and traders. 


 
Vogtle Nuclear Plant in Georgia Faces More Construction Delays

The Southern Co. project is the only one of its type in the U.S. and is likely to cost $2 billion more than expected. 


 
One Oil Company's Rocky Path to Renewable Energy

Ørsted spent years transitioning away from oil and gas. Now, it is the world's largest developer of offshore wind energy. The pivot holds lessons for major oil producers targeting solar and wind power. 


 
Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities 


 
U.S. Retrieves Millions Paid to Colonial Pipeline Hackers

Officials said they had recovered roughly $2.3 million in digital currency paid to release the pipeline from a ransomware attack that prompted the shutdown of the main conduit for gasoline and diesel fuel to the U.S. East Coast. 


 
Options Traders Bet on Return of $100 Oil

Traders have scooped up call options tied to Brent and West Texas Intermediate crude-oil prices reaching $100 by the end of next year, a milestone not seen since 2014. 


 
Bankrupt Castex Energy Gets Nod on Shutdown Plan

Oil-and-gas production company Castex filed its second bankruptcy in February, blaming the filing on a confluence of negative events including the collapse of oil-and-gas prices during the early months of the Covid-19 pandemic. 


 
Renewable-Fuel Push Drives Soyoil Prices to Record High

Soybean oil futures have soared nearly 70% this year and producers of the vegetable oil are racing to keep up with demand.

(END) Dow Jones Newswires

06-09-21 0015ET