Energy Markets News
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Oil fell from the highest price in almost five weeks on speculation that U.S. crude supplies are rising and demand for fuel may falter as Europe grapples with lower credit ratings.
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Chesapeake Energy Corp., the second- biggest U.S. natural-gas producer, is seeking as much as $12 billion from assets sales and joint ventures to cope with a cash crunch amid rising debt and tumbling gas prices.
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STX OSV Holdings Ltd., the world’s biggest maker of oil-rig support vessels, may attract a takeover premium of more than 30 percent as buyers look to profit from the Western Hemisphere’s largest oil discovery in three decades.
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President Barack Obama proposed cutting the Environmental Protection Agency’s budget for the third straight year by trimming funding for water grants to U.S. states and Superfund clean-up programs.
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