U.S. oil prices end near 1-month low on OPEC compromise expectations, COVID concerns
Oil futures fall Thursday, extending a slump that began in the previous session after data showed a rise in U.S. fuel supplies and reports said the United Arab Emirates and the Organization of the Petroleum Exporting Countries reached a compromise that would allow a further relaxation of output curbs beginning next month.
Natural Gas Prices Drop on Rising Storage
Natural gas prices fell 1.3%, marking a third straight session of declines due to temperatures around the country not being quite as high as many bullish forecasts.
Oil-Demand Rebound Could Spur Inflation, Pressure Debt-Laden Nations, OPEC Says
Despite uneven Covid-19 vaccination rates and the rise of the Delta variant, the Organization of the Petroleum Exporting Countries expects pandemic-containment measures and stimulus measures to boost oil consumption.
Siemens Energy Tumbles After Unit Issues Warning
Shares in Siemens Energy and Siemens Gamesa fell sharply after the Spanish wind turbine maker issued a profit warning, forcing its parent company to revise its outlook too.
Siemens Gamesa Warns on Margin Outlook
Siemens Gamesa said it now expects a negative operating margin for the year, as higher provisions led to an operating loss of EUR150 million in the third quarter.
Aker Solutions Posts Surprise Profit
Aker Solutions reported an unexpected second-quarter net profit on strong order growth and said tender activity was at a record high.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
OPEC Reaches Compromise With U.A.E. Over Oil Production
OPEC agreed to raise the amount of crude the cartel member can eventually pump, but it is subject to approval by a wider group of producers that includes Russia.
As Airbus Bets on Hydrogen, Boeing Opts for Pragmatism
While less ambitious than developing alternative methods of propulsion, throwing money at sustainable-fuel production has a better chance of yielding lower aviation emissions.
Woodside Revenue Rises, Launches Asset Sales Process
Woodside Petroleum Ltd. said higher realized prices for its oil and liquefied natural gas drove a 15% rise in second-quarter revenue, as it pushed ahead with plans to seek buyers for part of its stakes in growth projects in Africa and Australia.
(END) Dow Jones Newswires