Budrul Chukrut | Lightrocket | Getty Images NextEra Energy stock fell nearly 5% in early trading Tuesday after announcing a plan to sell $2 billion in equity units to finance power projects as electricity demand rises and to pay back debt. The Florida-based power company, which operates the largest portfolio of renewable energy in the … Read more
Crude oil futures rose Monday following their best week since April as traders sifted through mixed economic data out of China. U.S. crude oil and global benchmark Brent closed out last week nearly 4% higher, as analysts expect the market to tighten in the third quarter as summer fuel demand draws down inventories. Oil stockpiles … Read more
Crude oil futures rose for a fifth day Friday, on pace for the best week in more than two months as analysts see a tighter market heading into the third quarter. Oil prices are up more than 4.5% for the week, the strongest gains since early April, when futures rose on boiling geopolitical tensions in … Read more
The head of OPEC said Thursday that the world will need to invest in fossil fuels for decades to prevent an energy shortage, dismissing predictions that oil demand will peak soon. OPEC Secretary General Haitham Al Ghais said oil demand will grow by 25 million barrels per day, or bpd, in the developing world through … Read more
Aerial view of Olmeca oil refinery belonging to the Petroleos Mexicanos (PEMEX) company, located in Paraiso, Tabasco state, Mexico, May 20, 2024. Yuri Cortez | Afp | Getty Images Crude oil futures fell Thursday after rising U.S. stockpiles sent a bearish signal to the market and the Federal Reserve dialed back interest rate cut expectations … Read more
U.S. crude oil rose more than 1% Wednesday, extending this week’s rally as OPEC and the Department of Energy see steady demand this year. The Department of Energy raised its global consumption growth forecast to 1.1 million barrels per day, up from 900,000 bpd previously. The increased demand implies a supply deficit with world production … Read more
An oil pumpjack is shown near the Callon Petroleum vicinity on March 27, 2024 in Monahans, Texas. Brandon Bell | Getty Images News | Getty Images The International Energy Agency said on Wednesday that a U.S.-led surge in global oil production is expected to outstrip demand growth between now and the end of the decade, … Read more
Crude oil futures were little changed Tuesday as OPEC stuck to its demand forecasts, counting on steady economic growth this year. Oil prices rallied more than 2% on Monday and have now recovered most of the losses from last week. The market had sold off to four-month lows after OPEC+ decided to increase crude production … Read more
Platform Eureka, an offshore oil and gas platform operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023. Tim Rue | Bloomberg | Getty Images Crude oil futures rose slightly on Monday as analysts see summer fuel demand pushing the market into a supply deficit in … Read more
Saudi Aramco logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Dado Ruvic | Reuters Shares of Saudi Arabia’s Aramco rose on Sunday following a stock sale that’s set to raise the state oil company around $11.2 billion. Shares were trading around 28.25 Saudi riyals ($7.53) on … Read more
