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

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.

 
Oil shock? How OPEC+ could soften the blow if the Middle East conflict hits supply. 
 

The market has a not-so-secret cushion should Israel target Iran's oil industry.

 
Oil prices end at 2-week high as Israel weighs response to Iran missile attack 
 

Oil futures settled Wednesday at their highest in two weeks, modestly extending a rally from a day earlier, as investors awaited Israel's response to a massive missile barrage by Iran on Tuesday which stoked fears of a wider conflict that could impede flows of crude from the Middle East.

 
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.

 
U.S. Adds to Crude Oil Stockpiles 
 

Gasoline inventories also rose, while distillate fuel oil stocks fell.

 
Energy & Utilities Roundup: Market Talk 
 

Read about TotalEnergies, OMV 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.

(END) Dow Jones Newswires

October 03, 2024 04:15 ET (08:15 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.