Oil prices were little changed on Friday as traders remained cautious about frequent and steeper rate hikes by the U.S. Federal Reserve, concerns that have triggered a rout in energy prices over the last three days. Brent futures, which fell about 5% over the last three days, were up marginally from near-three week lows at $81.72 a barrel at 0113 GMT.
The five-year shelf life of U.S. tax credits for lower-carbon aviation fuel is too short to anchor development of the nascent industry, energy executives said this week in Houston. President Joe Biden's signature Inflation Reduction Act included major tax credits for sustainable aviation fuel that have stoked more interest in producing the fuel.
European prompt power prices fell on Thursday as surging renewable energy output overrode slightly higher demand in France, where colder weather triggered imports from Germany. French day-ahead baseload plunged by 11.2% to 115.5 euros per megawatt hour by 1000 GMT while German baseload for Thursday was down 15.5% at 112 euros.
* * Strike halts deliveries from TotalEnergies' French refineries. * Upcoming - U.S. Labor Department Feb employment report on Friday. By Scott DiSavino. Oil prices slid about 1% to a two-week low on Thursday on increased worries the U.S. Federal Reserve may go too far with its interest rate hikes to control inflation, which could cause a recession and reduce future oil demand.
Oil prices slid about 1% to a two-week low on Thursday on increased worries the U.S. Federal Reserve may go too far with its interest rate hikes to control inflation, which could cause a recession and reduce future oil demand. The U.S. central bank uses higher interest rates to reduce inflation.
This year's freefall in U.S. natural gas prices has upended the acquisitions market for gas producers and spooked investors that lined up to buy when prices were much higher. The price volatility has scuppered plans by a unit of Tokyo Gas Co Ltd (TKGSF) to acquire Rockcliff Energy from private equity firm Quantum Energy Partners, according to three people familiar with the matter.
U.S. natural gas futures fell about 5% on Wednesday to a one-week low, after data showed
the amount of gas flowing to Freeport LNG's export plant in Texas dropped and on forecasts indicating the ...
This year's freefall in U.S. natural gas prices has upended the acquisitions market for gas producers and spooked investors that lined up to buy when prices were much, much higher. The price volatility has scuppered plans by a unit of Tokyo
Gas Co Ltd (TKGSF) to acquire Rockcliff Energy from private equity firm Quantum Energy Partners, according to three people familiar with the matter.
U.S. crude oil stockpiles fell last week, breaking a 10-week streak of builds, while distillate inventories rose to the highest level in over a year, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.7 million barrels to 478.5 million barrels in the week ending March 3, compared with analysts' expectations in a Reuters poll for a 0.4 million-barrel rise.
U.S. crude oil and gasoline stockpiles fell while distillate inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.7 million barrels to 478.5 million barrels in the week ending March 3, compared with analysts' expectations in a Reuters poll for a 0.4 million-barrel rise.
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