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Oil settles up on Red Sea tensions; gains capped by US stock builds

reuters | December 20, 2023

By Laura Sanicola (Reuters) -Oil prices settled slightly higher after a choppy trading session on Wednesday as investors worried about global trade disruption and tensions in the Middle East following attacks on ships by Yemen’s Iran-aligned Houthi forces in the Red Sea. Limiting price gains were a surprise U.S. crude inventory build, larger than expected…

Oil prices take a small loss in seesaw session

reuters | December 15, 2023

By Erwin Seba HOUSTON (Reuters) – Brent and U.S. crude futures finished at a small loss following a see-saw session, in which prices fell more than $1 a barrel at one point on Friday, as traders tried to reconcile mixed signals for oil demand in the coming year. Brent futures settled down 6 cents, or…

Oil drops to 6-month low on weak economic outlook, high U.S. supply

reuters | December 7, 2023

By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell on Thursday to six-month lows, as investors worried about sluggish energy demand in the United States and China while output from the U.S. remains near record highs. Brent crude futures dropped 25 cents to $74.05 a barrel. U.S. West Texas Intermediate crude futures fell 4 cents…

Global wind power outlook takes hit from US weakness, China slowdown -WoodMac

reuters | December 6, 2023

(Reuters) – The global wind power sector will add less capacity in the next decade than previously expected due to financial trouble in the U.S. offshore wind industry and sluggish approval and project execution in China, consultancy Wood Mackenzie said on Tuesday. Orsted, the world’s largest offshore windfarm developer, energy giants BP and Norway’s Equinor…

Investors flock to US natural gas ETF despite price slump

reuters | December 1, 2023

By Suzanne McGee (Reuters) – Investors have been piling into an exchange-traded fund (ETF) designed to track U.S. natural gas prices, in spite of the commodity’s dismal performance in 2023. The U.S. Natural Gas Fund’s (UNG) price, tied to the performance of futures contracts on the commodity, has plunged 60.7% so far this year, falling…

Biden’s clean energy agenda faces mounting headwinds

reuters | November 28, 2023

(This Nov. 24 story has been officially corrected to fix tracking firm LevelTen’s data to show that solar contract prices reached their highest level this decade, not ever, in paragraph 14) By Nichola Groom and Jarrett Renshaw (Reuters) – Canceled offshore wind projects, imperiled solar factories, fading demand for electric vehicles. A year after passage…

Oil Sputters Near Three-Month Lows as Demand Concerns Mount

Cam White | November 8, 2023

By Paul Carsten (Reuters) -Oil prices slid more than $1 on Wednesday to their lowest in more than three months on concern over waning demand in the United States and China. Brent crude futures fell $1.11 to $80.50 a barrel by 1311 GMT and U.S. crude lost $1.20 to $76.17, with both benchmarks registering their…

Kinder Morgan to Buy Nextera Energy Partners’ Texas Pipelines for $1.82 Billion

Cam White | November 7, 2023

By Seher Dareen and Sourasis Bose (Reuters) -U.S. pipeline operator Kinder Morgan said on Monday it would acquire NextEra Energy Partners’ gas pipelines in South Texas for $1.82 billion. The oil and gas pipeline business has seen increased consolidation this year as U.S. production grows and persisting problems related to permits for new pipelines have…

Chevron to Buy Hess Corp for $53 Billion in Second Oil Mega-Merger in Weeks

Cam White | October 23, 2023

(Reuters) -Chevron said on Monday it agreed to buy Hess for $53 billion in stock, the second proposed mega-merger among the biggest U.S. oil players after Exxon Mobil bid $60 billion for Pioneer Natural Resources earlier this month. The proposed deal raises the competition between Chevron, the No. 2 U.S. oil and gas producer behind…

Biden Angers All Sides with Scaled Back Offshore Oil Drilling Plan

Cam White | October 2, 2023

By Nichola Groom and Jarrett Renshaw (Reuters) -The Biden administration’s plan to slash offshore oil and gas leasing drew fire from both the fossil fuel industry and environmentalists on Friday, with energy companies saying it will raise fuel prices and greens saying it undermines efforts to stop global warming. The criticism from both sides reflects…

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