Markets

Oil plummets 8% on 2-pronged threat from COVID resurgence and inventory increase

Oil prices slumped on Wednesday as investors stared down a larger-than-expected jump in US crude inventories and surging COVID-19 case counts in several states. Inventories leaped by 1.75 million barrels to 545 million barrels last week, according to an American Petroleum Institute report seen by Reuters. Economists expected a build-up […]
Oil plummets 8% on 2-pronged threat from COVID resurgence and inventory increase
Markets

Goldman Sachs says renewable-energy spending will surpass oil and gas for the first time ever in 2021 — and sees total investment spiking to $16 trillion over the next decade

Green-energy investing will account for 25% of all energy spending in 2021 and, for the first time ever, surpass spending on traditional fuel sources like oil and gas, Goldman Sachs said in a Tuesday note. Should the US aim to hold global warming within 2 degrees Celsius, the pivot to […]
Goldman Sachs says renewable-energy spending will surpass oil and gas for the first time ever in 2021 — and sees total investment spiking to $16 trillion over the next decade