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Crude oil futures rose for a fifth day Friday, on pace for the best week in more than two months as analysts see a tighter market heading into the third quarter. Oil prices are up more than 4.5% for the week, the strongest gains since early April, when futures rose on boiling geopolitical tensions in

Former U.S. President Donald Trump speaks at a dinner at Mar-a-Lago on June 5, 2024 in West Palm Beach, Florida. Now that his criminal trial in New York has wrapped up, the former president has scheduled a number of fundraising events around the country to aid his presidential bid. (Photo by Eva Marie Uzcategui/Getty Images)

The head of OPEC said Thursday the world will need to invest in fossil fuels for decades to come in order to prevent an energy shortage, dismissing predictions that oil demand will peak in the near future. OPEC Secretary General Haitham Al Ghais said oil demand will grow by 25 million barrels per day in

An oil pumpjack is shown near the Callon Petroleum vicinity on March 27, 2024 in Monahans, Texas. Brandon Bell | Getty Images News | Getty Images The International Energy Agency said on Wednesday that a U.S.-led surge in global oil production is expected to outstrip demand growth between now and the end of the decade,

U.S. crude oil rose more than 1% Wednesday, extending this week’s rally as OPEC and the Department of Energy see steady demand this year. The Department of Energy raised its global consumption growth forecast to 1.1 million barrels per day, up from 900,000 bpd previously. The increased demand implies a supply deficit with world production

Neodymium is displayed at the Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. factory in Baotou, Inner Mongolia, China. Nelson Ching | Bloomberg | Getty Images Mining firm Rare Earths Norway says it has discovered Europe’s largest proven deposit of highly prized rare earth elements, potentially reflecting a watershed moment for both the Nordic country and

Crude oil futures were little changed Tuesday as OPEC stuck to its demand forecasts, counting on steady economic growth this year. Oil prices rallied more than 2% Monday and have now recovered most of the losses from last week. The market had sold-off to four month lows after OPEC+ decided to increase crude production in

In this article 2330-TW Follow your favorite stocksCREATE FREE ACCOUNT A chip made by Taiwan Semiconductor Manufacturing Company TSMC Taiwan, the world’s semiconductor powerhouse, is facing a power crunch — and this could spell trouble for chipmakers. Manufacturing chips requires a lot of energy and electricity, and the government is struggling to meet the island’s

In this article ED EVRG Follow your favorite stocksCREATE FREE ACCOUNT Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images Evergy Chief Financial Officer Kirk Andrews will replace Consolidated Edison‘s current CFO Robert Hoglund, who plans to retire on July 8, the companies announced Monday. Andrews has been CFO of the Midwest utility company

Saudi Aramco logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022.  Dado Ruvic | Reuters Shares of Saudi Arabia’s Aramco rose on Sunday following a stock sale that’s set to raise the state oil company around $11.2 billion. Shares were trading around 28.25 Saudi riyals ($7.53) on

In this article GM Follow your favorite stocksCREATE FREE ACCOUNT The All-New, All-Electric Honda Prologue is on display at the 2023 Los Angeles Auto Show at the Los Angeles Convention Center on November 24, 2023 in Los Angeles, California. While missing a host of brands, this year’s edition of the Los Angeles Auto Show debuted

The Aramco logo is displayed on a smartphone screen. Sopa Images | Lightrocket | Getty Images Saudi Arabia is set to raise more than $11.2 billion from its secondary public share offering in state-controlled oil giant Aramco, after the stock was priced at the lower end of its expected range. The company on Friday said

In this article NXT Follow your favorite stocksCREATE FREE ACCOUNT Photoelectric modules at a solar farm in Hanstholm, Denmark. The solar panels are part of the renewable energy sources that power Apple’s European data center in Viborg.  Christoph Dernbach | Picture Alliance | Getty Images The surging power needs of artificial intelligence and data centers

In this article XOM Follow your favorite stocksCREATE FREE ACCOUNT Chip Somodevilla | Getty Images News | Getty Images A former IRS employee was charged in Utah federal court for allegedly trying to steal $2.1 million in tax credits owed to Exxon Mobil by diverting the funds using a taxpayer database he had access to.

Private fishing boats near offshore petroleum drilling rig in the Gulf of Mexico.  Ron Buskirk | Getty Images Crude oil futures rose Friday but are on pace for a third straight weekly loss on worries that demand may be softening even as OPEC+ plans to increase production. U.S. crude oil and global benchmark Brent sold

Gov. Gretchen Whitmer (D-MI) delivers remarks at the SelectUSA Investment Summit in National Harbor, Maryland, on May 4, 2023. Kevin Dietsch | Getty Images The future of the electric vehicle is a critical issue for the U.S. auto industry and its home base of Detroit, Michigan. It’s also increasingly becoming a political issue, according to

A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, near Iraan, Texas, U.S., March 17, 2023.  Bing Guan | Reuters Crude oil futures rose for a second day Thursday as weak jobs data has boosted investor sentiment that the Federal Reserve will cut interest rates this year. Fed futures

An offshore oil platform is seen at sunset near Huntington Beach, California, on Feb. 9, 2024. David Mcnew | Getty Images Oil prices defied the announcement of extended supply cuts from the OPEC+ alliance with brisk declines, with analysts and traders faulting certain trading strategies and the demand picture for the downturn.   “There is

Yasir Al-Rumayyan, chairman of Saudi Arabian Oil Co. (Aramco), speaks during a news conference in Dammam, Saudi Arabia, on Sunday, Nov. 3, 2019.  Mohammed Al-Nemer | Bloomberg | Getty Images Crude oil futures rebounded slightly Wednesday but hovered near a four-month low as a decision by OPEC+ to increase production later this year continued to

U.S. crude prices fell for the fifth straight day Tuesday, but we remain committed to our lone oil-and-gas stock in Coterra Energy . West Texas Intermediate has been moving lower since its early April peak, with Tuesday bringing the U.S. oil benchmark to its lowest settle since Feb. 5, at $73.25 a barrel. Some of