(Reuters) – Oil prices steadied on Thursday as investors weighed supply concerns against growing expectations that key Western economies will maintain high interest rates to tackle stubborn inflation. By 1111 GMT, Brent crude futures were down 37 cents to $96.18 a barrel after rising to their highest level since last November earlier in the session. …
Tight Supply, Inflation Concerns Keep Oil Investors on Fence Read More »
Hawaiian Electric Co.’s chief executive officer told Congress Thursday that the deadly Lahaina wildfire wasn’t the company’s fault, adding that it may take 12 to 18 months to understand the cause.During a hearing before House lawmakers, Shelee Kimura testified the company wasn’t to blame for the blaze that killed at least 97 people last month. Although an …
Deadly Maui Fire Not Hawaiian Utility’s Fault, CEO Testifies Read More »
U.S. natural gas futures edged up about 1% to a nine-week high on Thursday on forecasts for more demand this week than previously expected. That increase came ahead of a federal storage report expected to show a near-normal build last week and forecasts for milder weather and less demand next week than previously expected. Analysts …
U.S. Natgas Prices Edge Up 1% Ahead of Weekly Storage Report Read More »
MOSCOW, Sept 28 (Reuters) – Russian Energy Minister Nikolai Shulginov said on Thursday that the ban on fuel exports will not be lifted soon and will remain in place until the domestic market stabilises, TASS news agency reported. Shulginov also said that some additional measures could be taken in order to tackle the fuel shortages, …
Russia’s Fuel Export Ban Will Not be Lifted Soon, TASS Reports Read More »
The US shale patch appears to be far from getting a handle on its record oil-field costs, according to the latest energy report by the Federal Reserve Bank of Dallas. Most oil executives surveyed by the bank now expect drilling and fracking expenses to climb next year, the Dallas Fed said Wednesday. At the same time, 84% …
U.S. Shale Executives Are Bracing for Record Costs to Get Worse Read More »
(Reuters) – Solar stocks have been some of the hardest hit equities in U.S. markets this year, with several major solar firms nursing stock price losses of more than 50% and a major solar-based exchange-traded fund (ETF) down roughly 30%. High interest rates that caused financing costs for panel installations to surge and enduring supply …
Beaten Down U.S. Solar Sector May be Primed for a Rebound Read More »
Oil and gas activity in three key energy producing states rose modestly in the third quarter, according to a survey released on Wednesday, but cost increases continue. Exploration is driving the increase, with the survey’s business activity index, reaching 10.9 in the third quarter, from zero in the second, the Federal Reserve Bank of Dallas …
Oil and Gas Activity Rises Modestly, But Cost Increases Continue – Dallas Fed Survey Read More »
Volkswagen AG is curbing the production of electric vehicle models at two German plants due to declining European demand and shrinking government subsidies.Production of Volkswagen’s ID.3 and Cupra’s Born electric models will be dialed back at the German carmaker’s main EV factory in Zwickau until Oct. 16, a spokesperson said. Assembly of the ID.3 at …
Volkswagen Cuts EV Output at German Sites as Demand Craters Read More »
(Reuters Breakingviews) – The green energy boom is facing new headwinds. Falling costs, cheap capital and supportive politicians helped propel a headlong rush into renewable power. Now fracturing supply chains and higher interest rates are pushing up prices – and testing the resolve of consumers and governments. It took a while for the world to …
The Blowback: Green Energy’s Tailwinds Blow the Other Way Read More »
The Canadian and U.S. federal governments want to fundamentally reshape the automobile industry via regulations, mandates and subsidies. These efforts bring to mind the story of King Canute, and will likely end the same: failure. At his height of power, so goes the story, King Canute ordered his throne to be set on the seashore. With …
