Oil dipped towards $51 a barrel on Friday though still headed for a seventh weekly gain in a row as investors focused on the rollout of COVID-19 vaccines and looked past rising case numbers and tighter lockdowns in Europe.
As an early winter chill grips China, South Korea and Japan, prices for coal, liquefied natural gas (LNG) and power are rising due to supply crunches and a surge in demand with more cold weather expected.
Global demand for coal is set to jump 2.6% next year after a record pandemic-led drop this year, as recovering economic activity will lift use for electricity and industrial output, the International Energy Agency (IEA) said on Friday.
China said on Friday it firmly opposes the United States smearing China without evidence, in response to Washington banning utilities that supply electricity to U.S. defense facilities from buying power grid equipment from China.
The United States is backing the construction of a subsea pipeline that would supply Europe with natural gas from the eastern Mediterranean, U.S. Energy Secretary Dan Brouillette said on Thursday.
Trafigura is ending an artisanal cobalt formalisation project in Democratic Republic of Congo, which it has run alongside miner Chemaf and NGO PACT for nearly two years, the commodities trader said on Thursday.
(Reuters) -Rio Tinto named Chief Financial Officer Jakob Stausholm as its next chief executive on Thursday, defying expectations it would pick an external candidate to repair its image after its destruction of sacred Aboriginal rock shelters.
Energy trader Gunvor Group has bought a minority stake in Artemis Technologies to build high-speed ferries capable of carrying up to 350 passengers with zero emissions, the company said on Thursday.
TORONTO (Reuters) -Miner Teck Resources on Thursday said it was preparing for the possible shutdown of a key coal export terminal on Canada's West Coast, after a union notice said strike action against terminal owner Westshore Terminals Investment Corp could commence on Saturday.
U.S. energy regulators approved a plan by Marathon Petroleum Corp's Trans-Foreland Pipeline Co LLC unit to convert the Kenai liquefied natural gas (LNG) export plant in Alaska into an import terminal.
NEW YORK (Reuters) -Surging U.S. stocks are stretching equity valuations near their highest levels in years, leaving investors to determine whether the rally signals a coming economic rebound or an asset price bubble in the midst of a global pandemic.