Oil Price Slumps on Fears of New Covid-19 Restrictions

South Africa's warning of a new strain of coronavirus walloped the energy sector, leading to the sharpest declines in oil prices since the global economy locked down early last year to slow the spread of the virus. 


 
Interior Department Calls for Higher Fees for Oil-and-Gas Leasing on Federal Lands

A report stops short of proposing ban on leasing on public land or making broader recommendations designed to address climate change. 


 
Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities 


 
U.S. Crude-Oil Inventories Rise, Fuel Supplies Fall

U.S. crude-oil inventories unexpectedly rose last week by 1 million barrels, government data showed, versus analysts' expectations that supplies would fall by 800,000 barrels. Meanwhile, gasoline supplies declined by 603,000 barrels. 


 
U.S. Oil-Rig Count Rises by 6 in Latest Week, Baker Hughes Says

The number of rigs drilling for oil in the U.S. climbed by six in the latest week to 467, according to oil-field services company Baker Hughes. 


 
OPEC Weighs Shift in Oil Policy After Crude Release

Saudi Arabia and Russia are considering pausing efforts to provide the world with more crude, after Washington and other countries said they would release a slug of stored oil in an effort to lower prices. 


 
As American Gasoline Prices Soar, Some Blame Ethanol

Prices for the biofuel have surged, rekindling a debate about whether it is contributing to pain at the pump and whether the White House should relax ethanol-blending regulations. 


 
Japan Confirms It Will Tap State Oil Reserves

The Japanese government confirmed it will tap its state oil reserves, following a similar announcement from President Biden overnight aimed at bringing down gasoline prices. 


 
Porsche: BlackRock Joins Ionity Venture, Funds Secured

Porsche said BlackRock is investing in charging-network provider Ionity, a joint venture that includes a number of global auto makers, with funds totalling EUR700 million expected to be available by 2025. 


 
Enel to Boost Spending on Renewables

Enel said it will increase its investment in renewable energy and infrastructure by 6% more than previously planned as it aims to become carbon free by 2040, while issuing midterm earnings guidance.

(END) Dow Jones Newswires

11-29-21 0015ET