Tuesday, January 21, 2025
Coronavirus widens climate rift between European and U.S. oil majors- oil and gas 360

Coronavirus widens climate rift between European and U.S. oil majors

Reuters LONDON – Europe’s top oil and gas companies have diverted a larger share of their cash to green energy projects since the coronavirus outbreak in a bet the global health crisis will leave a long-term dent in fossil fuel demand, according to a Reuters review of company statements and interviews with executives. The plans of companies like BP (BP.L),

Oil jumps 12% to $33 as June futures contract nears expiration- oil and gas 360

Oil jumps 12% to $33 as June futures contract nears expiration

CNBC West Texas Intermediate for June delivery jumped more than 12% on Monday to a two-month high, one day ahead of the contract’s expiration, as production cuts and the easing of stay-at-home restrictions supported prices. “Producers are significantly throttling back output and, with demand increasing, the market is on a slow path towards recovery,” said Rystad Energy’s senior oil markets