Energy Update
NEW YORK, May 20 (Reuters) - SunEdison Inc has
tentatively agreed to withdraw a request for an independent
examiner for the renewable energy company's bankruptcy, its
attorneys said in court on Friday, enabling its creditors to
pursue their own investigation.
May 20 (Reuters) - U.S. natural gas speculators cut net long
positions for a third week in four, betting prices would remain
low in future months to encourage power generators to burn more
of the record high inventory of fuel left after a warm winter.
CALGARY, May 20 (Reuters) - Firefighters battling a massive
blaze in Canada's energy heartland were buoyed on Friday by a
second day of rain and winds that pushed flames away from oil
sands facilities, as producers announced a gradual increase in
operations.
May 20 (Reuters) - U.S. natural gas speculators cut net long
positions for a third week in four, betting prices will remain
low in future months to encourage power generators to burn more
of the record high amount of fuel left in inventories after a
warm winter.
PARIS, May 20 (Reuters) - It would be "unthinkable" for
eastern Libyan forces to join a U.N.-backed unity government
until militias aligned to it have been disbanded, General
Khalifa Haftar, who heads up troops in the east, said in an
interview broadcast on Friday.
(Recasts, adds quote)
By Scott DiSavino
May 20 (Reuters) - U.S. energy firms this week kept the
number of rigs drilling for oil unchanged for the first time
this year as crude futures trade near a seven-month high,
indicating that a near two-year slump in the rig count could be
ending as forecast by several analysts.
Drillers kept the number of rigs at 318 in
the week to May 20, holding at the lowest level since October
Wind power is blowing back against a fifth year of contracting Greek credit as banks keep funding renewable energy projects that deliver secure cash flows.
By Scott DiSavino
May 20 (Reuters) - U.S. energy firms this week kept the
number of rigs drilling for oil unchanged for the first time
this year, services company Baker Hughes Inc said on
Friday, as crude futures trade near a seven-month high.
Drillers kept the number of rigs at 318 in the week to May
20, holding at the lowest level since October 2009, Baker Hughes
said in its closely followed report.
By Lewis Krauskopf
NEW YORK, May 20 (Reuters) - A year ago the U.S. stock
market minted new all-time highs, but you could excuse investors
for not celebrating the anniversary.
The benchmark S&P 500 has failed to close higher since
ending at 2,130.82 on May 21, 2015, and now trades some 4
percent below that peak. It also has yet to top its intraday
record high of 2,134.72 hit on May 20, 2015.
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