News Highlights: Top Energy News of the Day - Thursday at 4 PM ET

Oil ends at 2-week low after report Saudi Arabia to scrap price target, boost output 
 

Oil futures on Thursday ended at their lowest in about two weeks, pressured after the Financial Times reported that Saudi Arabia was ready to abandon its $100-a-barrel price target as it prepares to increase production in a bid to take back market share.

 
U.S. Natural Gas Futures Retreat as Major Storm Looms 
 

U.S. natural gas prices fell as Hurricane Helene strengthened on its path toward northwestern Florida and was seen likely to have greater impact on demand than supply.

 
As Exxon Pumps Guyana's Oil, China Is Winning Battle for Influence 
 

Chinese companies are investing heavily in the sparsely populated South American country, home to the largest oil find in a generation.

 
Energy & Utilities Roundup: Market Talk 
 

Find insight on oil markets in the latest Market Talks covering the Energy & Utilities sector.

 
U.S. Crude Oil Stockpiles Fall More Than Expected 
 

Gasoline and distillate stocks also declined as refineries reduced their capacity use.

 
The High-Stakes Spat Over How Much Oil the World Really Needs 
 

OPEC is sticking with its estimate that the world will need an extra two million barrels a day this year, despite signs this is unrealistic.

 
GE Vernova CEO Appraises Nuclear Power Prospects, Offshore Wind Business 
 

The nuclear power industry is set to add 'gigawatts upon gigawatts' of capacity heading into the 2030s, while offshore wind needs to sort out its business model, according to GE Vernova CEO Scott Strazik.

 
Peak Oil Demand Isn't on the Horizon, OPEC Says 
 

The cartel said oil demand is forecast to reach 120.1 million barrels a day in 2050 from 102.2 million barrels a day last year.

 
California Sues Exxon, Alleges Plastics Deception 
 

The state's attorney general accused the oil company of misleading consumers about the recyclability of plastic products. It's seeking civil penalties.

 
Electricity That Costs Nothing-or Even Less? It's Happening More and More 
 

A big increase in wind and solar power has pushed wholesale prices to zero or below for many hours of the year, spurring a sea change in the way people use power in some parts of the world.

(END) Dow Jones Newswires

September 26, 2024 16:15 ET (20:15 GMT)

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