Energy Industry News
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Oil dropped for the first time in four days after the U.S. Energy Department said inventories climbed the most in 20 months and as Western nations considered releasing crude from strategic reserves.
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U.K. Prime Minister David Cameron called on the Unite labor union and employers to hold talks on averting a strike by fuel-truck drivers as the government stepped up contingency plans to cope with any gasoline shortage.
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Transocean Ltd., the deep-water rig owner that’s trailed competitors in the stock market since its equipment burned and sank in the 2010 Gulf of Mexico oil spill, is set to benefit the most this year from a surge in demand.
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Enbridge Inc.’s plans to expand U.S. pipeline capacity may help generate as much as $15 billion for Canadian oil-sands producers such as Suncor Energy Inc. and boost government tax revenue as Alberta crude begins to command a higher price.
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