News Highlights: Top Energy News of the Day - Friday at 4 AM ET

May 24, 202408:15 UTC

Wood Rejects Improved $1.9 Billion Bid from Sidara

Wood Group said the offer of 220 pence a share significantly undervalues the company and its growth prospects.

Prices at the Pump Are Dropping Just in Time for Memorial Day Weekend

Preholiday costs are about 5% below their inflation-adjusted average since 2000.

NOAA Predicts the Most Hurricanes It Has Ever Forecast

This season will see between 17 and 25 named storms with winds of 39 miles an hour or higher.

Oil prices stretch losses into a fourth session on demand concerns

Oil futures finished with a loss on Thursday to stretch their decline into a fourth consecutive session, with speculation over the possibility of an interest-rate hike by the Federal Reserve dulling the outlook for crude demand.

U.K. Utilities' Shares Fall on Election News

Shares across the U.K. utility sector are tumbling on U.K. snap election news and National Grid's surprise, heavily discounted rights issue to fund its new investment plan.

Energy & Utilities Roundup: Market Talk

Find insight on DuPont, the Atlantic hurricane season, U.S. natural gas inventories, and more in the latest Market Talks covering the Energy & Utilities sector.

U.S. Crude Oil Stockpiles Rose Last Week

U.S. crude oil inventories rose by 1.8 million barrels last week and gasoline stocks fell, while refineries stepped up their capacity use for a third consecutive week

State Treasurers, Others Urge Exxon Mobil Shareholders to Vote Against CEO

In addition to Exxon Mobil's CEO, the group urged voting out Lead Independent Director Joseph Hooley.

Four Dead, Thousands Without Power Following Severe Storm in Houston

Residents were told they should stay home Friday if they are nonessential workers, and local schools were closed until Monday.

Private Equity Warms Up to Clean-Energy Tax Credits

Private-equity firms are beginning to tap a nascent market for clean-energy tax credits, betting on a boost to returns from helping project developers get better terms for the tradable credits.