Oil Inches Lower on U.S. Crude Stocks Buildup

Oil prices slipped on concerns over reduced demand following a larger-than-expected build in U.S. crude stockpiles and ahead of key U.S. inflation data. 


 
Frackers Are Now Drilling for Clean Power

Oil-and-gas companies are accelerating investments in geothermal energy, betting the technologies that fueled the shale revolution can turn the budding industry into a large producer of clean power. 


 
U.S. Crude Oil Stocks Rose by 4.2 Million Barrels Last Week

U.S. crude oil inventories rose by 4.2 million barrels last week, surpassing estimates for a rise of 1.5 million barrels. 


 
Uniper Warns on Earnings, Blames Lower Prices

Uniper returned to profitability last year but said it expected lower earnings in 2024 due to likely lower energy prices. 


 
Chevron's $53 Billion Deal for Hess in Jeopardy on Possible Exxon Challenge

The Texas oil company has said it could pre-emptively match the price Chevron offered Hess for its 30% stake in a booming oil prospect off Guyana's coast. 


 
Woodside Energy Annual Net Profit Falls 74%, Payout Ratio Steady

Woodside Energy reported a 74% fall in annual net profit, in large part driven by impairing assets in the U.S. Gulf of Mexico and Australia. 


 
Natural Gas Hasn't Been This Cheap in Decades

The lowest inflation-adjusted prices in at least 34 years have drillers throttling down from record production. 


 
Iran Reduces Near-Weapons-Grade Stockpile, Defying Expectations

The country has amassed enough near-weapons-grade material for several nuclear weapons but recently pulled back from expanding its stockpile. 


 
Oil Market Gets a Russian Lesson: Sell on the Sound of Cannons

On the second anniversary of the Ukraine invasion and amid ongoing attacks on a vital energy shipping corridor, the oil price is stuck in peacetime. 


 
Woodside to Sell Scarborough JV Stake to Japan's Jera

Woodside Energy said it has agreed to sell 15.1% of the venture developing the Scarborough natural-gas field offshore Australia to Japan's Jera for $1.4 billion as part of a broader strategic relationship.


(END) Dow Jones Newswires

02-29-24 0715ET