Energy News Results

  • Billionaire John Arnold backing energy-focused credit fund - sources

    John Arnold, a former Enron trader and hedge fund honcho known as the "king of natural gas", is backing an energy-focused credit fund that will aim to take advantage of commodity prices at multi-year highs, sources familiar with the matter said.

  • Oil falls 2% on hopes for Venezuela supply

    * Talks between Venezuela's Maduro, opposition expected -sources. * Powell says Fed to 'keep pushing' rates higher. * EU ministers fail to persuade Hungary to agree Russian oil ban. * U.S. crude inventories seen up last week - poll. By Stephanie Kelly.

  • Oil falls 2% on Powell comments, hopes for Venezuela supply

    After hitting seven-week highs, oil prices slumped 2% on Tuesday as Reuters reported that the United States could ease some restrictions on Venezuela's government, raising hopes that the market could see some additional supplies. Prices also fell after Federal Reserve Chairman Jerome Powell warned the economy could be hurt by attempts to reduce inflation.

  • Ukraine war to slash euro zone 2022 growth, boost inflation -EU

    Russia's invasion of Ukraine and the resulting surge in energy and commodity prices will slash euro zone economic growth this year and next, while boosting inflation to record levels, the European Commission forecast on Monday.

  • China's thermal coal futures mute as Beijing reins in commodity inflation

    Trade in China's thermal coal futures has almost come to a halt, after Beijing stepped up its control of coal prices to rein in the soaring costs of energy and raw materials. The flagship product for Zhengzhou Commodity Exchange has at times seen as many as 1 million lots exchange hands in a day but recorded a turnover of just 27 lots on Monday.

  • Surging natural gas prices squeeze U.S. industrial sector

    Skyrocketing natural gas prices have raised manufacturing and transportation costs across many U.S. industries, and the situation should persist as the United States exports more gas to Europe to make up for Russian supplies lost to sanctions.

  • FOCUS-Surging natural gas prices squeeze U.S. industrial sector

    Skyrocketing natural gas prices have raised manufacturing and transportation costs across many U.S. industries, and the situation should persist as the United States exports more gas to Europe to make up for Russian supplies lost to sanctions.

  • China's April oil refinery output plunges to two-year low as COVID curbs bite

    China processed 11% less crude oil in April than a year earlier, with daily throughput falling to the lowest since March 2020 as refiners slashed operations on weaker demand due to widespread COVID-19 lockdowns. Crude throughput last month was 51.81 million tonnes, equivalent to 12.61 million barrels per day, data from the National Bureau of Statistics showed on Monday.

  • Oil settles higher on demand optimism, gasoline strength

    Oil prices rose on Monday on optimism that China would see significant demand recovery after positive signs that the country's coronavirus pandemic was receding in the hardest-hit areas. Brent crude futures for July delivery rose $2.69 to settle at $114.24 a barrel, a 2.4% gain, while U.S. West Texas Intermediate crude rose $3.71, or 3.4%, to $114.20 a barrel.

  • IEA sees world weathering lost Russian oil supply

    The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency said on Thursday, after it cut its predictions for supply losses from the world's No.2 exporter for the second straight month.

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