Oil prices rose Friday, notching a fourth straight week of gains to two-and-a-half-month highs and Brent trading at its highest since 2014. Crude futures were higher in late morning trading, with WTI up 0.3% at $84.10/bbl and Brent up 0.3% at $86.33/bbl. U.S. natural gas was marginally higher at $4.26/MMBtu.
Crude futures were mixed in morning trading, with WTI up .2% at $83.97/bbl and Brent down .1% at $85.97/bbl. U.S. natural gas was .2% higher at $4.27/MMBtu.
Active U.S. oil and gas rigs rose by 13 last week to 601, while production hit 11.7 million bpd, up from 11 million bpd the same time last year.
Europe’s ongoing energy shortage could steal 1% of the continent’s GDP this year, analysts warn.
European imports of U.S. natural gas are five times higher than Russian deliveries this month, the first time in history that American LNG has surpassed Russian pipeline flows to the continent.
The U.S. Senate rejected new sanctions against Russia’s completed—but not yet flowing—Nord Stream 2 gas pipeline to Germany, saying the measure would harm relations with Germany.
Germany is expected to become a net importer of electricity by 2023 for the first time in two decades, underscoring the impact of recent phase-outs of coal and nuclear plants.
France’s largest utility is expected to lose almost $9 billion after the government’s recent order to discount power to tamp down rising costs among households.
A major winter storm struck the U.S. Southeast over the weekend, working its way up the East Coast Sunday while leaving more than a foot of snow and a quarter inch of ice in some areas. Widespread air and road disruptions were reported, along with power outages for more than 200,000 homes and businesses in the Carolinas and Georgia. Airlines canceled at least 2,800 flights Sunday.
The U.S. reported 254,550 new COVID-19 infections and 545 virus fatalities Sunday. The nation has seen a large increase in the number of COVID-19-related deaths over the past month, with total virus fatalities surpassing 850,000 over the weekend, just one month after surpassing 800,000.
The seven-day average for COVID-19 hospitalizations hit 155,958 Sunday, the most ever, with the largest rise concentrated in the South and Midwest:
The number of new people getting a COVID-19 vaccine is at one of the lowest points of the pandemic, while West Virginia, Mississippi and Alabama continue to have the fewest overall vaccinations in the nation.
Florida’s COVID-19 case count topped 5 million, with 1 million infections added in less than three weeks.
Early data suggests unvaccinated pregnant women could experience harsher effects from COVID-19 infection than their vaccinated counterparts.
Hotels, fitness clubs, tour bus companies and minor league ball clubs are among the many businesses lobbying Congress for a new round of targeted pandemic aid after being left out of previous funding.
U.S. consumer sentiment fell to its second-lowest level in a decade during the first half of January over concerns about the fast-spreading COVID-19 Omicron variant, according to a University of Michigan index.
Loop, a Canadian recycling startup, is pitching large consumer-goods makers including Danone, L’Oréal and L’Occitane to use recycled plastic resin from its new facility under construction in Normandy, France.
A Maersk subsidiary is building a geothermal plant that will provide heat for one-fifth of residents in Denmark’s second-largest city, as the shipping line expands further into renewables.
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