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Fossil Fuels Losing Cost Advantage Over Solar, Wind, IEA Says

The cost of producing electricity from renewable sources such as solar and wind has dropped significantly over the past five years, narrowing the gap with power generated from fossil fuels and nuclear reactors, according to the International Energy Agency.

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Oil Markets

Russia Bows to Cheap Oil as Putin Aide Sees $50 Price for Budget

Russia will assume that crude prices will stay near their present level in calculating next year’s budget as the world’s largest energy exporter adjusts to a downturn on the oil market, according to President Vladimir Putin’s top economic aide.

Stocks Drop as Traders Exit Risky Bets Before Payrolls

Global equities extended their weekly slump and emerging-market currencies weakened to a record low as investors cut exposure to riskier assets before U.S. payrolls data on Friday. Demand for havens boosted the yen and government bonds.

The Oil-Sands Glut Is About to Get a Lot Bigger

The last place oil producers want to be when prices plummet to profit-demolishing lows is midstream on a billion-dollar project in one of the costliest parts of the planet to extract crude.