Oil prices pull back as investors weigh supply outlook

Oil futures end slightly lower, after bumping higher in the previous session on worries over the global supply outlook. 


 
Crude-Oil Inventories Rise Unexpectedly

U.S. crude-oil inventories increased by 3.2 million barrels last week. Analysts had predicted a 1.2 million-barrel fall. Gasoline supplies also rose as refiners stepped up their capacity use. 


 
Canada Had Designs on Being a Hydro Superpower. Now Its Rivers and Lakes Are Drying Up.

About 70% of the country is suffering from abnormally dry or drought conditions, forcing it to start up power plants fueled by gas or coal to meet mushrooming demand. 


 
Energy & Utilities Roundup: Market Talk

Gain insight oil futures, Wood Group, Athabasca Oil and more in the latest Market Talks covering Energy and Utilities. 


 
PetroChina Posts Record Profit, but Revenue Misses Estimates

Chinese state-controlled oil company PetroChina said its annual profit rose to a record due to lower operating expenses, but revenue fell on weaker oil prices. 


 
Big Tech's Latest Obsession Is Finding Enough Energy

The AI boom is fueling an insatiable appetite for electricity, which is creating risks to the grid and the transition to cleaner energy sources. 


 
U.S. Crude Oil Inventories Fall by 2 Million Barrels in Week Ended March 15

U.S. crude oil inventories fell by 2 million barrels last week, exceeding forecasts for a draw of 1.2 million barrels. 


 
Biden's EPA Gives Automakers More Leeway to Phase Out Gas-Engine Cars

The Biden administration enacted the strictest-ever rules for tailpipe emissions, while giving automakers more time to comply as the market for electric cars evolves. 


 
Specialist Buyout Firms Cash In on Shale Consolidation

Some private-equity firms backing oil-and-gas producers cashed in on rising consolidation in the U.S. shale industry last year, selling assets for an expected $30.55 billion and fueling distributions to investors. 


 
Natural-Gas Prices Won't Stay Low for Long. An Export Boom Is Coming.

Natural-gas prices hit a low in February. Rising exports and data centers' constant need for power mean the long-term outlook looks very different, Patti Domm writes.


(END) Dow Jones Newswires

03-27-24 1615ET