U.S. oil prices closed lower due to a fifth consecutive weekly increase in domestic crude inventories, contrasting with Brent crude's strong performance.
Domestic crude oil stocks surged by 4.2 million barrels last week, exceeding expectations of a 1.5 million barrel rise.
Uniper anticipates lower earnings in 2024, attributing it to expected declines in energy prices despite returning to profitability last year.
Insights on various energy and utility topics, including Canada's Trans Mountain expansion project and updates on companies like EDP Renovaveis and Endesa, are covered in the latest Market Talks.
Chevron's $53 billion deal with Hess faces uncertainty amid potential challenges from Exxon, as the Texas oil company considers matching Chevron's offer for Hess's stake in a lucrative oil prospect.
Woodside Energy's annual net profit plummeted by 74%, largely due to asset impairments in the U.S. Gulf of Mexico and Australia, though its payout ratio remains stable.
Natural gas prices have hit historic lows, prompting producers to scale back production despite record output levels.
Iran unexpectedly reduces its near-weapons-grade nuclear material stockpile, defying previous expectations of stockpile expansion.
Despite geopolitical tensions and ongoing attacks on energy shipping routes, the oil market remains relatively stable on the second anniversary of the Ukraine invasion.
Woodside Energy agrees to sell a 15.1% stake in the Scarborough natural gas field off Australia's coast to Japan's Jera for $1.4 billion as part of a broader strategic partnership.