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News Highlights: Top Energy News of the Day

10/23/2020 | 04:16am EDT
Oil Ends Higher On Stimulus Deal Optimism 

U.S. benchmark oil prices ended 1.5% higher after a mid-morning spurt of buying on reports that House Speaker Nancy Pelosi said lawmakers are "just about there," on efforts to pass a stimulus bill.

Natural Gas Slips But Stays Near 21-Month-High 

Natural gas prices settled 0.5% lower as investors booked some profits after prices closed yesterday at a 21-month-high.

Michigan Group Says Archaeological Findings Enough to Halt Enbridge Tunnel 

The group of mostly Native American women says they found man-made patterns underwater near the Line 5 oil pipeline that could date back 10,000 years.

Valero Swings to 3Q Loss Amid Refining Challenges 

Valero Energy logged a loss as the coronavirus pandemic continued to weigh on fuel markets. On an adjusted basis, Valero's loss was $1.16 a share versus analysts' projection of an adjusted loss of $1.49 a share.

Oilfield Services Look Beyond Oil 

The companies have made good progress on cost cuts and are considering their next steps.

Carbon Pledge Lifts Wind and Solar Stocks in China 

Chinese renewable-energy stocks have soared recently as investors believe the country's drive to become carbon neutral will fuel heavy investment in wind farms and solar parks.

Energy & Utilities Roundup: Market Talk 

The latest Market Talks covering Energy and Utilities.

U.S. Crude-Oil Inventories Decline Near Expectations 

Government data showed U.S. inventories of crude oil declined by 1 million barrels last week, near analysts' forecasts, while domestic crude-oil production dropped below 10 million barrels a day.

SPACs Will Have a Tough Time Cleaning Up on Renewables 

Investor appetite for sustainable investments and yield have both been huge lately, but there have hardly been any debuts of cash-generating renewable-energy companies recently. Could SPACs be the answer?

Iberdrola's Avangrid to Buy PNM Resources 

Iberdrola's Avangrid unit has agreed to buy New Mexico-based electricity company PNM Resources for around $4.32 billion.

(END) Dow Jones Newswires

10-23-20 0415ET

Stocks mentioned in the article
ChangeLast1st jan.
AVANGRID, INC. -0.04% 54.99 Delayed Quote.20.99%
ENBRIDGE INC. 0.44% 48.27 Delayed Quote.18.57%
LONDON BRENT OIL -0.06% 72.7 Delayed Quote.40.00%
PNM RESOURCES, INC. 0.06% 49.18 Delayed Quote.1.34%
S&P GSCI CRUDE OIL INDEX -0.01% 386.8244 Delayed Quote.45.51%
VALERO ENERGY CORPORATION -0.79% 81.29 Delayed Quote.43.70%
WTI -0.06% 70.878 Delayed Quote.45.60%
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