News Highlights: Top Energy News of the Day - Wednesday at 11 AM ET

Oil prices rise over 3% as Israel weighs response to Iran missile attack 
 

Oil futures extended gains Wednesday, rising more than 3% while investors awaited Israel's response to a massive missile barrage by Iran a day earlier, stoking fears of a wider conflict that could impede flows of crude from the Middle East.

 
Saudi Minister Warns of $50 Oil as OPEC+ Members Flout Production Curbs 
 

The kingdom called out members for overproducing, in what was seen as a veiled threat of a price war.

 
TotalEnergies Lifts Production Target, Sticks With Shareholder Return Policy 
 

The French energy company's announcement comes at a time when most European majors look likely to pull back on their lofty buyback pledges.

 
Energy & Utilities Roundup: Market Talk 
 

Find insight on Adnoc, European oil-and-gas majors and more in the latest Market Talks covering the Energy & Utilities sector.

 
UAE's Adnoc Buys Germany's Covestro for $13 Billion 
 

The tie-up is part of the oil producer's big bet on chemicals, as it tries to transform into a fully integrated energy company.

 
John Hess Is the Latest Target for Antitrust Enforcers. The Oil Patch Isn't Happy. 
 

The agency accuses Hess of improper talks with OPEC and will block him from joining the board of Chevron, which is trying to buy his oil company.

 
'Three New York Cities' Worth of Power: AI Is Stressing the Grid 
 

Across the nation, utilities are worried about expanding the overburdened power grid, citing high costs and concerns about commitment from data center projects.

 
Elliott-Led Group Named As Winner of Auction to Acquire Venezuela's Citgo Petroleum 
 

Elliott and other U.S. investors have agreed to pay nearly $7.3 billion to acquire Citgo's parent company, with proceeds set to help compensate creditors of the bankrupt Venezuelan government.

 
A High-Profile Clean-Energy Startup Is Running Short on Cash 
 

Monolith is struggling to meet production targets needed for $1 billion government loan.

 
Oil Price Expected to Weaken If OPEC+ Hikes Supply 
 

Expectations that the OPEC and its allies will start unwinding voluntary output curbs of 2.2 million barrels a day starting from December is adding to market nervousness.

(END) Dow Jones Newswires

October 02, 2024 11:15 ET (15:15 GMT)

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