Oil prices up nearly 3% after first U.S. crude-inventory decline in seven weeks

Oil futures rose Wednesday, with U.S. benchmark prices scoring their first gain in five sessions after the Energy Information Administration reported a weekly fall in domestic crude supplies. 


 
Weekly U.S. Crude Oil Supplies Fall by 1.5 Million Barrels

Oil inventories fell by 1.5 million barrels to 447 million barrels in the week ended March 8 as refineries continued to raise their capacity usage. 


 
Shell considers slowing its ambitious net-zero push: report

The Anglo-Dutch oil major has focused on investor returns over climate initiatives under new CEO Wael Sawan who took control in January 2023 


 
E.ON to Increase Investments in Europe

E.ON said that it would invest EUR42 billion in the period to 2028 in Europe, with a majority planned for Germany, and added that it anticipated its earnings this year would normalize. 


 
Energy & Utilities Roundup: Market Talk

Gain insight on U.S. ethanol stocks, Harbour Energy, CK Power, and more in the latest Market Talks covering Energy and Utilities. 


 
Oil settles lower after rise in U.S. CPI and OPEC's unchanged demand forecast

U.S. and global benchmark crude futures ended lower on Tuesday following a hotter-than-expected reading on U.S. inflation. 


 
OPEC Holds Demand View Steady, Raises 2024 Economic Forecast

OPEC left its estimates for global oil-demand growth unchanged, but raised its economic forecast for this year further amid falling inflation and anticipated interest-rate cuts. 


 
EQT and Equitrans Midstream to Combine in Big Natural-Gas Deal

The all-stock transaction will reunite EQT with its former pipeline business. 


 
Saudi Aramco Hikes Dividend, Adjusts Spending

Saudi Arabia's national oil company raised its dividend payouts for last year after it achieved its second-highest ever net profit and said investment plans to 2028 would be reduced by an abandoned plan to boost production. 


 
Elliott Bets $500 Million on Gas Producer Backed by Quantum

Paul Singer's Elliott Investment is plowing money into a $1.6 billion continuation fund that lets Quantum Capital retain HG Energy as an investment.


(END) Dow Jones Newswires

03-14-24 0015ET