Oil prices end higher, rising 1% after biggest drop in months
Oil futures settle with a more than 1% climb on Tuesday, a day after the U.S. benchmark suffered its biggest single-session decline since September. Signs of a tight physical market help soothe worries over the economic outlook tied to the spread of the delta variant of the coronavirus that causes COVID-19.
Oil-Price Swoon Spurs Traders to Bet on Further Declines
Bets that oil investors made in options markets help explain why crude prices fell so sharply on Monday, and also show that traders are bracing for prices to lurch lower once more.
U.S. Crude-Oil Stockpiles Likely to Fall in DOE Data, Analysts Say
U.S. crude-oil stockpiles are unanimously expected to decrease by 3.7 million barrels while gasoline stockpiles are expected to fall by 1.1 million barrels from the previous week in data due Wednesday from the U.S. Energy Department, according to a survey of analysts and traders.
China Compromised U.S. Pipelines in Decade-Old Cyberattack, U.S. Says
The Biden administration also issued cybersecurity requirements on the pipeline industry following the Colonial Pipeline ransomware attack in May that disrupted U.S. fuel deliveries.
U.S. Set to Drop Opposition to Nord Stream 2 Pipeline
The U.S. and Germany have reached an agreement allowing the completion of a controversial Russian natural gas pipeline, according to officials from Berlin and Washington, who expect to announce the deal as soon as Wednesday, bringing an end to years of tension between the two allies.
Oil and Gas Subsidies Are Under Pressure
Oil and gas investors need to stop fretting about subsidies for green energy and start worrying about hanging on to the prodigious ones their own industry receives.
Santos Has Proposal to Acquire Oil Search Rejected
The deal would have brought together two Australia-listed companies to create $16 billion energy producer.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
OPEC Gives Shale an Opening
With less oil-market drama, prices fall again and U.S. producers have an opportunity.
Exxon Turns to Company Outsider to Fill CFO Role
Kathryn Mikells, formerly the CFO of Diageo, will become the oil giant's finance chief Aug. 9.
(END) Dow Jones Newswires