Oil ends at 2023 low as SVB collapse, inflation data stoke recession fears

Oil ends sharply lower Tuesday, unable to shake recession fears after another round of hot inflation data and amid worries about the bank sector. 


 
OPEC Sees Weaker Western Oil Demand Countering Growing Chinese Appetite

The cartel left its forecasts for global oil-demand growth this year steady as growing optimism about China's demand for crude oil was countered by concerns about the economic picture in the U.S. and Europe. 


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

U.S. commercial crude-oil inventories are expected to have risen by a marginal 100,000 barrels from the previous week in data due Wednesday from the Energy Department. 


 
Energy & Utilities Roundup: Market Talk

Find insight on 3R Petroleum Óleo e Gás, Pennon Group, Centrais Elétricas Brasileiras, and more in the latest Market Talks covering Energy and Utilities. 


 
West Virginia Gov. Jim Justice Puts Coal Business Up for Sale

A sale would help resolve the Justice family's substantial debts in advance of a possible challenge by the Republican governor for the Senate seat held by Joe Manchin. 


 
Biden Administration Approves Willow Oil Project in Alaska

ConocoPhillips expects the project, which environmentalists and many Democrats wanted scuttled, to produce about 180,000 barrels of oil a day at its peak. 


 
Clean and Cheap Oil Is a Heavy Lift

Oil-company executives are competing to make their portfolios cheaper and cleaner. 


 
Biden Declares U.S. Arctic Ocean Off Limits to New Oil and Gas Leasing

The administration said it will form a "firewall" against future oil and gas leasing in the Arctic and federal lands in Alaska's North Slope. 


 
Saudi Aramco Posts Record $161 Billion Profit for 2022

Saudi Arabia's national oil company reported the largest profit by an energy firm, boosting the kingdom's coffers as it looks to showcase its global business and foreign-policy ambitions. 


 
Oil prices tally a weekly loss of nearly 4% on fears of Fed rate rises

Oil prices settle higher on Friday, but post a weekly loss of nearly 4%.


(END) Dow Jones Newswires

03-15-23 0015ET