U.S. oil prices settle at a 2-month high on fading omicron worries, tight supplies

Oil futures rise Tuesday, with U.S. prices marking their highest finish in about two months on expectations the omicron variant won't derail demand in the face of tight supplies. 


 
Cnooc Plans to Scale Up Oil and Gas Production

Chinese oil-and-gas major Cnooc Ltd. plans to scale up production, targeting net production of 600 million-610 million barrels of oil equivalent this year, compared with an estimated 2021 net production of 570 million BOE. 


 
Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities 


 
U.S. Moves to Restrict Oil Leasing in Alaska

The Interior Department said Monday that it plans to block oil and gas leasing on about 11 million acres on Alaska's North Slope, or roughly half of a 23-million acre reserve set aside for energy development decades ago. 


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

The number of rigs drilling for oil in the U.S. rose by one to 481 in the latest week, according to oil-field services company Baker Hughes. 


 
Shell to Return Remaining Permian Proceeds as Buybacks

UPDATED: Royal Dutch Shell said it will distribute the remaining $5.5 billion of proceeds from the sale of its Permian Basin assets in the U.S. through share buybacks. 


 
U.S. Crude Supplies Fall, But Fuel Inventories Rise Sharply

U.S. crude-oil inventories declined last week but gasoline and diesel stockpiles rose dramatically, according to data released Wednesday by the Energy Information Administration. 


 
Oil, Uranium Prices Jump Amid Kazakhstan Unrest

The resource-rich country accounts for about 40% of the world's uranium output, which it sells to utilities in the U.S. and elsewhere. 


 
Natural-Gas Crisis Pushes German Utilities Into Dash for Cash

European energy companies are racing to secure billions of euros in funds, a sign of the strains caused by dramatic moves in natural-gas and power prices this winter. 


 
Iberdrola Outlines Capital Increase Plan

Iberdrola plans to raise more than EUR1 billion in a capital increase and said it pay an interim dividend that will at least match the payout of the last two years.

(END) Dow Jones Newswires

01-12-22 0015ET