SPY380.36-1.97 -0.52%
DIA309.45-4.53 -1.44%
IXIC13,192.35+72.96 0.56%

DJ News Highlights: Top Energy News of the Day

· 02/08/2021 00:00
Vale 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 weekFloating Wind Turbines Buoy Hopes of Expanding Renewable EnergyOffshore Wind Farms Could Boom Under BidenTightening Oil Supplies Inject New Momentum Into Price Rally

A booming rally in oil markets has pushed crude prices to their highest levels since near the start of the pandemic, powered by production curbs and recovering demand.

Wind project developers are pressing the administration to ease bureaucratic hurdles to building giant turbines off the U.S. Atlantic coast.

Offshore wind farms that don't need to be embedded in the seafloor could open up new areas to clean-power generation.

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.

(END) Dow Jones Newswires

February 08, 2021 00:00 ET (05:00 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.