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DJ News Highlights: Top Energy News of the Day

· 02/05/2021 16:00
U.S. Crude Oil Inventories Decline as Refinery Activity RisesLime Rock Banks More Than $100 Million So Far for Debut Clean-Energy FundShell Posts Loss but Eyes Recovery This YearVale Agrees to $7 Billion Settlement for Brumadinho Dam CollapseNatural Gas Ends at Nearly 3-Month-HighBlackstone-Backed Gas Plant Owner Files for Bankruptcy to Cut $800 Million in DebtEnergy & Utilities Roundup: Market TalkRWE Preliminary Earnings Beat GuidanceU.S. Oil-Rig Count Grows by 4 in Latest Week, Baker Hughes SaysOil futures settle higher, with U.S. prices up 9% for the week

Oil futures settle higher Friday, with Brent crude nearing the $60-a-barrel threshold and U.S. benchmark prices up roughly 9% for the week.

The number of rigs drilling for oil in the U.S. increased by four in the latest week to 299, according to oil-field services firm Baker Hughes.

RWE has reported preliminary results, with most of its key profit metrics ahead of guidance, boosted by an improvement in supply and trading operations.

The latest Market Talks covering Energy and Utilities

Frontera Holdings, the owner of a natural gas plant near the U.S.-Mexico border, filed for bankruptcy.

Natural gas prices rocketed higher late in the session to end at their highest level since Nov. 13, closing up 5.2% at $2.935/mmBtu.

The miner will compensate the state of Minas Gerais, where the disaster two years ago killed 270 people and left widespread environmental damage, in the largest settlement in Brazilian history.

The oil giant reported a fourth-quarter loss as it continued to grapple with the fallout of the pandemic but said it would raise its dividend, forecasting a recovery in demand later this year.

The Westport, Conn.-based firm, which previously was focused exclusively on the oil-and-gas sector, is seeking $600 million for the growth-equity fund, Lime Rock New Energy LP, said Managing Director Mark McCall, who co-leads the strategy.

U.S. inventories of crude oil declined a bit more than expected last week as refinery activity sped up, according to weekly data released Wednesday by the Energy Information Administration.

(END) Dow Jones Newswires

February 05, 2021 16:00 ET (21:00 GMT)

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