Oil futures climb more than 6% for the week

Oil prices gave up early losses to finish higher on Friday - with production outages in the U.S., strong economic data and concerns about shipping in the Middle East contributing to a more than 6% weekly gain. 


 
Equinor, BP to Swap Stakes in New York Wind Projects

The 50-50 partners will exchange stakes to acquire full control, with Equinor getting all of Empire Wind, and BP the entirety of Beacon Wind. 


 
Heating Your House Will Be Cheaper This Winter Thanks to Natural-Gas Boom

There hasn't been enough cold weather to burn up America's gas surplus. 


 
Sasol Output Hit by Volatile Environment

Sasol said its first-half performance was affected by the weak economic environment, with production down 1%, though it backed prior guidance despite expecting pricing and demand volatility to persist. 


 
Santos Flags More Costs for Barossa Gas Project

Oil-and-gas company Santos reported a strong finish to 2023, but flagged that its Barossa gas project would require additional investment before production begins. 


 
U.S. Crude Oil Stocks Fall More Than Expected in Week Ended Jan. 19

U.S. crude oil inventories fell by 9.2 million barrels last week, which was more than expected, as production and refinery runs dropped amid severe winter weather across much of the U.S. 


 
Some Private-Equity Firms Stick With Natural Gas Despite Climate Concerns

Energy-focused investment firms are betting on rising U.S. natural-gas exports even as activists and some lawmakers push back. 


 
Siemens Energy First Quarter Beats Forecasts

Siemens Energy forecast an underlying profit margin of between negative 2% and positive 1% for the fiscal year, after it reported preliminary first-quarter results that it said exceeded market expectations. 


 
Global Emissions From Electricity Set to Fall Even as Power Demand Climbs, IEA Predicts

Starting this year, record generation from renewables and nuclear will cover rising power demand from growth in emerging markets, AI and data centers, the agency says. 


 
Rio Tinto Inks Power Deal With European Energy for Giant Australia Solar Farm

Rio Tinto said it has agreed to buy electricity from the planned Upper Calliope solar farm in eastern Australia to power its Gladstone operations.


(END) Dow Jones Newswires

01-26-24 1615ET