Wall Street sold off on Monday, pulled lower by further weakness in oil prices as energy shares led declines, with major indexes retreating after last week’s strong gains. [Reuters] San Diego is the largest city in the country to commit to using only renewable energy over the next 20 years and now faces the decision… Keep reading →
Precipitous commodity price declines that began in mid-2014 continued to disrupt the oil and gas industry in 2015, outlasting the expectations of many analysts.
Chesapeake Energy Corp surged 8% in premarket trade Friday, after the company said it is suspending its quarterly preferred stock dividends in an effort to save cash. [MarketWatch] U.S. stocks are rising Friday as energy prices continue to climb and give a boost to energy companies. [ABC] Last year shattered 2014’s record to become the… Keep reading →
Energy firm E.On has announced a 5.1% reduction in its standard gas price for residential customers. [BBC News] In an AP interview, Iran’s foreign minister is decrying what he calls the United States’ “addiction to coercion” with its new sanctions against Iran over ballistic missile tests. [ABC/AP] The oil price slump below $30 barrel is… Keep reading →
Oil prices tumbled below $30 a barrel on Friday, with daily losses rivaling their biggest of the winter as flailing Chinese markets and the soon-coming increase of Iranian exports adds to concerns that the global glut will linger. [WSJ] The ongoing methane leak from an underground reservoir run by SoCalGas has spurred a new search… Keep reading →
In a new analysis, Bloomberg New Energy Finance finds that 2015 was a record year for global investment in the clean energy space, with $ 329 billion invested in wind, solar panels and biomass plants. [The Washington Post] The level of negativity around oil stocks has become extreme and it’s time to play for an… Keep reading →
The end of diplomatic relations between the Persian Gulf’s two major powers following the execution of prominent Shiite cleric Nimr Baqir al-Nimr and forty-six others on terrorist charges lead to a fall in oil prices on Monday. Analysts had expected prices to increase as OPEC became embroiled in a sharp division between two of its… Keep reading →
If 2015 was defined by falling commodity prices, 2016 may simply be defined by continuing lows.
Oil prices plunged again on Wednesday by more than 5 percent as investors paid more attention to signs that global stockpiles are growing than to increasing instability in the Middle East and North Africa. [The NY Times] The New York Stock Exchange announced Wednesday afternoon it would begin proceedings to delist Oklahoma City-based SandRidge Energy,… Keep reading →
Crude oil rebounded Monday afternoon after dipping below $35 a barrel for the first time since 2009, a concerning statistic for those in Canada, where thousands of oil-related jobs have already been lost. [CNBC] The head of Europe’s coal lobby has said that his industry will be “hated and vilified in the same way that… Keep reading →
