While oil stocks have been the best performers in 2022, Sunoco has struggled. The stock is down 11% this year, but Mizuho has confidence in it. On Thursday, the firm upgraded Sunoco shares to a buy from neutral, citing the company’s business model, balance sheet strength and compelling distribution yield. In the long term, the … Read more
In remarks delivered to the Austrian World Summit in Vienna via video, Antonio Guterres issued a sobering assessment of the planet’s prospects. “Most national climate pledges are simply not good enough,” he said. Michael M. Santiago | Getty Images News | Getty Images The UN Secretary General has slammed new funding for fossil fuel exploration, … Read more
JP Morgan’s Marko Kolanovic predicts oil is surging higher – but so are stocks. Kolanovic, who serves as the firm’s chief global markets strategist and co-head of global research, believes the US economy is strong enough to handle oil prices as high as $ 150 a barrel. “There could be some potential further spikes in … Read more
The EU partial embargo covers Russian oil brought into the bloc by sea, with an exemption carved out for imports delivered by pipeline following opposition from Hungary. Attila Kisbenedek | Afp | Getty Images Moscow could respond to European sanctions on Russian oil by seeking other buyers for its crude or cutting production to keep … Read more
EU leaders reached an agreement to ban 90% of Russian crude by the end of 2022. Joe Klamar | Afp | Getty Images Oil prices jumped after EU leaders reached an agreement late Monday to ban 90% of Russian crude by the end of the year. During Asia hours on Tuesday, US crude futures for … Read more
A group of Ukrainian women demonstrate to call for further action against Russia near the headquarters of the EU Commission in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty Images LONDON – Reflecting on energy markets just over one month into Russia’s onslaught in Ukraine, Saudi Arabia’s top energy official said: “Look at … Read more