Energy Market Updates: Oil Prices Fluctuate, Hydrogen Rules Boost Plug Power and Bloom Energy
Key Ideas
- Phillips 66 acquires EPIC NGL for $2.2 billion to expand its Permian midstream business.
- New hydrogen rules by the Treasury Department lead to stock jumps for Plug Power and Bloom Energy.
- Nuclear-energy stocks rise as clean-hydrogen production rules allow struggling plants to produce hydrogen.
- Green-energy firms shift focus to meeting energy needs, emphasizing the importance of their projects to Trump administration.
The article provides updates on the energy market as oil prices fluctuate following a 5-day winning streak. Phillips 66 announces its acquisition of EPIC NGL for $2.2 billion, aiming to enhance its Permian midstream business. The Treasury Department releases new rules for clean hydrogen production, which result in stock surges for Plug Power and Bloom Energy. Additionally, nuclear-energy stocks experience gains due to eased hydrogen tax-credit rules that allow endangered plants to produce hydrogen. Green-energy firms are now emphasizing their ability to meet energy demands to the Trump administration, shifting their approach towards project promotion. The article also covers topics such as the ban on drilling in some coastal waters, the momentum in natural gas stocks driven by cold weather, and the latest insights on oil prices, China's oil majors, and more in the energy and utilities sector.
Topics
Utilities
Stock Market
Green Energy
Energy Market
Nuclear Energy
Natural Gas
Tax Credits
Oil Prices
Crude Oil
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