U.S. oil prices up over 10% for the week as Hurricane Ida threatens Gulf of Mexico

Oil and natural-gas futures settled sharply higher on Friday to tally a strong gain for the week, as a storm, now known as Hurricane Ida, takes aim at the U.S. Gulf Coast. 


 
U.S. Oil-Rig Count Rises by 5 in Latest Week, Baker Hughes Says

The number of rigs drilling for oil in the U.S. rose by five in the latest week to 410, according to oil-field services company Baker Hughes. 


 
Hurricane Ida Strengthens on Path Toward Louisiana

Hurricane Ida strengthened as it barreled toward Louisiana, with forecasters projecting it could strike land as a Category-4 storm and New Orleans ordering residents living outside the city's levee system to evacuate. 


 
Natural Gas Gains 4%, Ending at Highest Since 2018

Natural gas prices finished the session with a huge 4.4% increase and ended with a 13% weekly gain at $4.370/mmBtu, the highest since December 2018, as Tropical Storm Ida bears down on the Gulf of Mexico. 


 
Israel's Bennett Presses Biden Over Iran Nuclear Deal

The new prime minister wants President Biden to back off an effort to revive the 2015 pact that was scuttled by the Trump administration. 


 
Dow CEO Warns of Price Tag on Clean-Energy Plans

Jim Fitterling says the chemical company supports net zero carbon targets, but warns against restrictions on natural-gas use. 


 
A Fledgling Natural-Gas Exporter Has Become a Meme Stock

Charif Souki, a pioneer of America's shale-gas shipping industry, is connecting with young, internet-savvy investors who have taken an interest in his fledgling company 


 
Petronas's Recovery Continues as Second-Quarter Earnings Rise

The period marked the Malaysian state-owned oil company's second consecutive quarter of profit after a year of losses in 2020, when oil prices plunged amid the Covid-19 pandemic. 


 
Woodside Exploring Low-Carbon Energies, But Says Market Still Small

Australia's Woodside Petroleum continues to assess potential investments in low-carbon energies such as hydrogen and ammonia, but says the market remains in its infancy. 


 
Energy & Utilities Roundup: Market Talk

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(END) Dow Jones Newswires

08-30-21 0015ET