Germany 'cannot rely in any way on Russia' and shouldn't count on Nord Stream 1 gas flows during winter, economy minister says
Germany can't rely on Russia or state-controlled Gazprom as Europe faces a worsening energy...
Germany can't rely on Russia or state-controlled Gazprom as Europe faces a worsening energy crunch ahead of winter, according to Economy Minister Robert Habeck.
In Thursday media comments in Berlin, he voiced doubt over whether Russia would offer any natural gas supplies moving forward, and said he hasn't been in contact with Gazprom, which shut down the Nord Stream 1 gas pipeline for maintenance.
"There are no direct talks between my ministry and Gazprom," Habeck said. "What I do expect is that we cannot rely in any way on Russia, or on Gazprom, the rest is pure speculation."
Benchmark U.S. crude oil for October delivery rose 26 cents to $86.87 a barrel Friday....
Benchmark U.S. crude oil for October delivery rose 26 cents to $86.87 a barrel Friday. Brent crude for November delivery rose 66 cents to $93.02 a barrel.
Wholesale gasoline for October delivery rose 8 cents to $2.46 a gallon. September heating oil rose 2 cents to $3.58 a gallon. October natural gas fell 48 cents to $8.79 per 1,000 cubic feet.
U.S. stocks gave up early gains to finish sharply lower Friday, with all three major benchmarks...
U.S. stocks gave up early gains to finish sharply lower Friday, with all three major benchmarks booking a third straight losing week, after “Goldilocks” August jobs data did little to alter the view that the Federal Reserve would press ahead with a large interest rate rise in late September.
News reports that Russia’s Gazprom wouldn’t reopen a natural gas pipeline to Europe on Saturday appeared to weigh on stock-market sentiment in afternoon trading as investors headed into the U.S. Labor Day holiday weekend.
The Dow Jones Industrial Average DJIA, -1.07% dropped 337.98 points, or 1.1%, to close at 31,318.44
The S&P 500 SPX, -1.07% fell 42.59 points, or 1.1%, to finish at 3,924.26.
The Nasdaq Composite COMP, -1.31% slid 154.26 points, or 1.3%, to end at 11,630.86, falling for a sixth straight day in its longest losing streak since August 2019.
For the week, the Dow dropped 3%, the S&P 500 shed 3.3% and the Nasdaq tumbled 4.2%. All three benchmarks booked a third straight week of losses.
Stock gains have evaporated as all 3 major indexes are now down after jobs data
U.S. stocks turned lower Friday afternoon, with all three major benchmarks falling, after data showed...
U.S. stocks turned lower Friday afternoon, with all three major benchmarks falling, after data showed the U.S. economy added more than 300,000 jobs last month. Stocks had been up earlier in the session, as the August jobs report was seen right in the sweet spot of investors’ expectations.
Permian Resources goes all-in on the Delaware Basin
The roughly $7 billion merger between Colgate Energy and Centennial Resource...
The roughly $7 billion merger between Colgate Energy and Centennial Resource Development has given rise to Permian Resources, the largest pure-play in the Permian Basin's Delaware portion. Led by co-CEOs Will Hickey and James Walter, the company is looking to capitalize on its Delaware's infrastructure and top-tier undeveloped acreage to grow production by 10% in 2023 without sacrificing investor returns.
