Don’t buy Occidental stock, analyst says, because Warren Buffett is buying

Shares of Occidental Petroleum Corp. continued to outperform its peer group and the broader stock market on Thursday, after the oil- and gas-production company disclosed that Warren Buffett’s Berkshire Hathaway Inc. keeps buying. But JPMorgan analyst John Royall said Buffett’s involvement is actually a good reason not to buy Occidental’s stock. The stock OXY, -1.06% … Read more

Oil Price Notches Worst Quarter Since Covid-19 Pandemic’s Onset

Concerns about a slowing global economy keep dragging oil prices down, despite widespread agreement on Wall Street that the fundamentals should mean a rebound. Brent crude, the global oil benchmark, is down 23% this quarter, falling to a recent $87.96 a barrel. Newsletter Sign-up Markets A pre-markets primer packed with news, trends and ideas. Plus, … Read more

EU Approves Sweeping Energy-Market Intervention

BRUSSELS—European energy ministers on Friday approved the main tenets of a €140 billion plan, equivalent to around $137 billion, to counter Moscow’s efforts to deprive the continent of natural gas and hobble its economy. The European Union plan aims to cap most non-gas electricity producers’ revenue, claw back some oil- and gas-company profits and lower … Read more

Russia’s Mobilization, Plunging Oil Prices Weaken Putin’s Economic Hand

The economic storm clouds come as Mr. Putin orders more financial resources directed at the war in Ukraine. The Kremlin’s decision to call up more than 300,000 soldiers will require new funds to equip, train and pay the new reinforcements, analysts said. It has also spread disruption among Russia’s private businesses, which face a fresh … Read more

Nord Stream Leaks Spur Scramble to Protect Europe’s Energy Infrastructure

The European Union on Wednesday threatened retaliation for any further attack on Europe’s energy facilities following the incidents on the Nord Stream and Nord Stream 2 pipelines. The pipes suffered a significant pressure drop on Monday and began leaking gas into the sea. While the incidents don’t affect Europe’s gas supply because the pipelines aren’t … Read more

Europe Investigates Unexplained Gas Leaks in Nord Stream Pipelines

BERLIN—European authorities are investigating mysterious leaks on two currently closed Russian natural-gas pipelines to Germany, as officials ask ships to steer clear of the area. The incidents have no impact on Europe’s gas supply since both links aren’t currently in use. Germany halted the Nord Stream 2 pipeline in February over Russia’s aggression in Ukraine … Read more

These 20 stocks in the S&P skidded as much as 21.5% during another brutal week for the market

Another difficult week for US stocks ended with shares of oil producers sliding and Ford Motor Co. tumbling further on concerns over supply shortages. The S&P 500 SPX, -1.72% fell 1.7% on Friday for a one-week decline of 4.6%, as investors continued to fret about the Federal Reserve’s interest-rate increases to temper inflation. Among components … Read more

Oil prices sink over 3% on recession fears

Oil futures dropped sharply Friday morning as recession fears gripped financial markets, sinking equities and government bonds, while contributing to a further rise by the US dollar. Price action West Texas Intermediate crude for November delivery CL.1, -3.52% CL00, -3.52% CLX22, -3.52% fell $2.76, or 3.3%, to $80.71 a barrel on the New York Mercantile … Read more

$8 a gallon gas? RBC energy guru on why we should brace for higher oil prices

American consumers may have gotten a bit of a break from sky-high gas prices over the past few months as the prices for oil and natural gas in the US have eased off their peaks from earlier this year. But any US consumers who think $5-a-gallon gasoline is a thing of the past might want … Read more

Electric Bills Soar Across the Country as Winter Looms

US utility customers, faced with some of their largest bills in years, are set to pay even more this winter as natural-gas prices continue to climb. Natural-gas prices have more than doubled this year because of a global supply shortage made worse by the war in Ukraine, and they are expected to remain elevated for … Read more