Today 4:00 AM ET (Dow Jones)Print Norsk Hydro Sells Rolling Unit in $1.7 Billion Deal Norway's Norsk Hydro has agreed to sell its rolled-products business to U.S. private-equity firm KPS Capital Partners in a deal worth $1.66 billion. U.S. oil prices log highest finish since 2019 as OPEC+ agrees to extend production curbs Oil futures rally Thursday, with U.S. prices posting their highest finish since 2019 after the Organization of the Petroleum Exporting Countries and its allies said they will rollover current production cuts to the end of April. OPEC-Plus Keeps Lid on Oil Output, and Prices Rise OPEC and a Russia-led coalition of oil producers kept most of their production cuts in place, surprising traders and sending oil prices up dramatically. Texas Overcharged $16 Billion for Power During Freeze The state extended peak prices for more than a day longer than needed, said the independent monitor, which is recommending the charges be reversed. Judge Allows Challengers to Trump-Era Oil Drilling Safety Rule to Review Agency Records A federal judge in Louisiana says an oil-safety regulator must turn over communications as part of a lawsuit over a Trump administration change. Winter Storm Eased Natural-Gas Glut Though the climb in gas prices was short lived, producers and analysts say that enough gas was burned during the cold snap to likely keep prices from crashing when furnaces are shut off in spring. Wind Power Was Thriving in Texas. Then Came the Freeze. Wind farms have boomed in the Lone Star State, but one week of extreme wholesale power prices left many operators in financial distress. Texas Power Grid Operator Fires CEO The board of the Texas electric-grid operator fired Chief Executive Bill Magness, less than a month after the state's power grid came within minutes of collapse. Energy & Utilities Roundup: Market Talk The latest Market Talks covering Energy and Utilities Texas Power Regulator Urged to Halt Collections as Crisis Fallout Spreads Electricity retailers are asking Texas' power regulator to suspend immediate collections on the massive bills arising from the state's electricity outage, as energy market participants try to mitigate the threat to their financial health. (END) Dow Jones Newswires March 05, 2021 04:00 ET (09:00 GMT) Copyright (c) 2021 Dow Jones & Company, Inc. |
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