Japan goes nuclear in bid to stay cool during Summer Olympics
Japan has rebooted extra power plants, including a long-dormant nuclear reactor, and taken other steps to avoid a power crisis as temperatures soar and demand for cooling surges, especially in Tokyo, where the Olympics begin on Friday.
Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases
Oil slumped $5 a barrel on Monday, closing out its worst day since March, after an OPEC+ agreement to boost output stoked fears of a surplus just as rising COVID-19 infections once again threaten demand.
S&P 500 ends higher after Fed Chair Powell lulls market
The S&P 500 ended with a gain after briefly hitting an intra-day record in a choppy session on Wednesday, as investors balanced worries about inflation with reassuring comments from Fed Chair Jerome Powell.
U.S. producer prices post biggest annual gain in more than 10-1/2 years
U.S. producer prices accelerated in June, leading to the largest annual increase in more than 10-1/2 years, suggesting inflation could remain high as robust demand fueled by the economy’s recovery from the COVID-19 pandemic strains the supply chain.
U.S. oil mergers surge as energy, share prices recover from pandemic
U.S. oil and gas mergers surged last quarter with the most $1 billion plus combinations since 2014, according to data released on Monday, as rising energy and share prices led to larger oilpatch deals.
EXCLUSIVE Brazil’s Petrobras price hikes show company’s independence -CEO
Brazil President Jair Bolsonaro was not consulted or informed about state oil giant Petrobras’ (PETR4.SA) decision this week to raise fuel prices, which underscores the company’s independence, Chief Executive Joaquim Silva e Luna told Reuters on Wednesday.
Analysis: OPEC disagreement lays bare growing UAE-Saudi economic rivalry
Rare public disagreement between the United Arab Emirates and Saudi Arabia over OPEC policy points to a growing economic rivalry between the two largest Arab economies which only looks set to intensify, several regional analysts said.
EXCLUSIVE Shell plans to exit California joint venture with Exxon Mobil -sources
Royal Dutch Shell Plc (RDSa.L) plans to leave Aera, its California-based oil and gas-producing joint venture with Exxon Mobil Corp (XOM.N), four people familiar with the talks told Reuters.
China solar association says Xinjiang forced labour claims unfounded
Claims that Chinese solar firms are benefiting from forced labour in Xinjiang are unfounded and unfairly stigmatise firms with operations there, the country’s solar association said.
Exxon lobbyist duped by Greenpeace says climate policy was a ploy, CEO condemns statements
A lobbyist for Exxon Mobil Corp (XOM.N) said the company supports a carbon tax publicly because the plan to curb climate change would never gain enough political support to be adopted, according to an interview aired on Wednesday.
