Oil ends sharply higher on tight supplies as EU wrangles over Russia import ban

Oil prices end sharply higher Thursday, buoyed by tight supplies of U.S. crude and gasoline ahead of the start of summer driving season. 


 
Europe's Quest for Alternatives to Russian Gas Hits Obstacles

Europe is hitting roadblocks as it tries to replace Russian gas in the Middle East and North Africa, as talks with big producers like Qatar, Algeria and Libya have become complicated. 


 
Natural Gas Finishes Lower, Ending 3-Session Rally

Natural gas prices gave up earlier gains to finish the session lower in what was expiration-day for the front-month June delivery contract. 


 
Oil Giants to Be Hit by Windfall Tax in U.K.

The U.K. said it would impose a temporary levy on oil and gas producers to help soften the pain of soaring energy prices on consumers, a rare so-called windfall tax aimed at blunting a worsening cost-of-living crisis. 


 
Natural Gas Surges as Cooling Season Switches On

The fuel has tripled over the past year to the highest level since 2008, which was before frackers flooded the market with shale gas. 


 
Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities 


 
Aramco Pursued Valvoline's Lubricants Unit

Deal talks are in the early stages, with the Saudi oil giant eyeing Valvoline's global products business, according to people familiar with the matter. 


 
United Utilities Profit Tops Hopes Despite Hike in Costs

United Utilities posted an above-forecast rise in underlying profit to GBP610 million, despite a sharp rise in finance costs, and forecast higher costs again this year. 


 
U.S. Oil Inventories Fall as Refiners Ramp Up

Crude-oil inventories declined by a greater-than-expected 1 million barrels last week as U.S. refinery activity surged to its highest level since 2019, government data showed. 


 
Ukraine War Threatens Transition to Cleaner Energy, Leaders Warn at Davos

While fossil fuel investments may be needed as Europe seeks to reduce Russian supplies, longer investments could derail climate goals, some say.


(END) Dow Jones Newswires

05-27-22 0015ET