Shares of energy companies rallied after more promising data from a vaccine trial, this time from a drug candidate developed by biotech concern Moderna.
The prospects of millions of cars returning to the roads and thousands of jets returning to the skies worldwide have profound implications for energy demand.
As the race for a vaccine continues, the pandemic-inspired collapse in energy prices in the spring is still causing ripple effects in the U.S. and global oil-and-gas business.
Gulfport Energy, one of the largest producers of natural gas in the U.S., filed for bankruptcy with a restructuring plan backed by its lenders that would cut $1.25 billion in debt from the balance sheet.
The Trump administration is taking final steps to insure the opening up of the Arctic National Wildlife Refuge to oil drilling, seeking to preempt the Biden administration on policy for the environmentally sensitive area, The Wall Street Journal reported.
State oil giant Saudi Aramco said it plans to issue U.S. dollar-denominated bond, as the cash-strapped oil giant cuts jobs, considers asset sales and reviews its expansion plans.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-16-20 1632ET
