Bloomberg European natural gas traders are storing more gas than ever in Ukraine as sites closer to home are rapidly filling up. Storage sites on the continent, ranging from old salt caverns to huge overground tanks, are fuller-than-normal after two mild winters and the plunge in demand caused by the pandemic. The unprecedented glut means prices are languishing near record ...

Bloomberg Spain’s Iberdrola SA is canceling a project in Mexico to build a $1.2 billion combined-cycle plant because it can’t secure a supply of natural gas, according to Mexican officials. The mayor of Tuxpan, Juan Antonio Aguilar, said in an interview that representatives of Iberdrola told him that it’s scrapping the project in his city because in nine months it ...

Bloomberg Oil exploration shrank for a 14th straight week in US fields amid weak crude prices and skepticism about a recovery in energy demand. Drillers idled 10 oil rigs in onshore US fields this week, bringing the total to 189, according to data released by Baker Hughes Co. Despite this week’s rise in crude prices to a three-month high around ...