Month: October 2020

(Bloomberg) — Oil and gasoline futures tumbled the most in more than two weeks after a U.S. government report showed swelling fuel stockpiles and slowing demand as the coronavirus pandemic rages. Both crude and gasoline futures in New York declined 4% on Wednesday. Domestic gasoline inventories rose 1.9 million barrels last week, the biggest increase
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(Bloomberg) — Pioneer Natural Resources Co. agreed to buy Permian Basin peer Parsley Energy Inc. for $4.5 billion in stock, the latest in a flurry of mergers that’s quickly reshaping the beleaguered U.S. shale oil industry. Pioneer said Tuesday in a statement the transaction represents a 7.9% deal premium for Parsley holders based on closing
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October 20th, 2020 by Joe Wachunas  In the 1950s, when nuclear energy was booming and hydroelectric dams were laying across rivers like tourniquets, the all-electric home became a thing. It didn’t matter that the electric heating technologies of the time were vastly inefficient. The promise of electricity that was “too cheap to meter” meant that
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(Bloomberg) — Oil in New York fell slightly under $41 a barrel after the OPEC+ Joint Ministerial Monitoring Committee made no mention of any changes to a plan to further ease oil-output cuts from January. Still, Saudi Oil Minister Prince Abdulaziz Bin Salman called on the OPEC+ alliance to be proactive in the face of uncertain demand,
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