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  Title	SUNNOVA ENERGY INTERNATIONAL INC. Chevron to Sell Majority Stake in East Texas Gas Assets for $525 Million -- Commodities Roundup
  ID	8113820
  External ID	7671493456
  Author	Unknown
  Published Date	April 1, 2025, 7:59 a.m.
  Summary	April 01, 2025 at 08:56 am EDT MARKET MOVEMENTS: --Brent crude oil falls 0.1% to $74.56 a barrel --European benchmark gas is up 3.2% to 42 euros a megawatt-hour --Gold futures are up 0.4% to $3,1
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  URL	https://www.marketscreener.com/quote/stock/sunnova-energy-internatio-62465391/news/chevron-to-sell-majority-stake-in-east-texas-gas-assets-for-525-million-commodities-roundup-49497745/
  Sentiment	Negative: 0.01283    Neutral: 0.19190    Positive: 0.79526
  Relevance	0.02662

• Content Details

  Content ID	5419066
  Key	7af06062-1b7a-4e9b-a7f2-b10eee97750c
  Content	April 01, 2025 at 08:56 am EDT MARKET MOVEMENTS: --Brent crude oil falls 0.1% to $74.56 a barrel --European benchmark gas is up 3.2% to 42 euros a megawatt-hour --Gold futures are up 0.4% to $3,162.50 a troy ounce --LME three-month copper futures are flat at $9,700.5 a metric ton TOP STORY: Chevron to Sell Majority Stake in East Texas Gas Assets for $525 Million Chevron has agreed to sell 70% interest in its East Texas gas assets for $525 million, as part of the U.S. energy company's strategy to optimize its portfolio. The stake will be sold to TG Natural Resources, a unit of Tokyo Gas and Castleton Commodities International, according to a statement late Monday. Of the deal size, $75 million will be paid in cash and the remaining $450 million will be a capital carry to fund the Haynesville development. OTHER STORIES: Sunnova Appoints Interim CFO, Seeks Debt Restructuring Sunnova Energy International has appointed an interim chief financial officer as the struggling rooftop solar panel company negotiates a debt restructuring with its creditors. Sunnova, one of the largest rooftop solar panel installers and financiers in the U.S., on Tuesday said it has named Robyn Liska, an investment banker at the power and renewable energy division of JPMorgan Chase, to lead its finance strategies. The Next Big Thing in Carbon Capture? Trash. A group of technology companies is investing in a new form of carbon capture that aims to cut emissions from household waste in an effort to reduce landfill usage and to lower the amount of greenhouse gas emissions that are emitted into the atmosphere. Frontier, an umbrella group of tech companies including payments firm Stripe, internet giant Google and Instagram parent Meta is investing just under $32 million in a carbon-capture-and-storage project in Norway in the hope of removing 100,000 metric tons of carbon from the atmosphere between 2029 and 2030. Aker Solutions Gets Contract for Work on Carbon-Capture Project Worth Up to $238 Million Aker Solutions has been awarded a contract worth a potential $238 million for work on the second phase of the Northern Lights carbon-storage project in Norway. The Norwegian energy-industry service provider said the contract award follows its delivery of the first phase of the project in 2024. The second phase is set to increase the transport and storage capacity from 1.5 million tons of carbon dioxide per year to a minimum of 5 million metric tons. Chinese Automakers Report Robust March Sales, XPeng Outperforms BYD and a host of other Chinese automakers reported robust sales in March, backed by government subsidies and continued interest in EV purchases in the world's second-largest economy. The world's largest EV maker BYD said Tuesday that its March new energy vehicle sales rose 25% to 377,420 units, bringing its first-quarter sales to more than 1 million units at 1,000,804 units. Among them, it sold 166,109 units of battery electric vehicles in March. MARKET TALKS: European Gas Price Seasonal Spread Narrows Sharply -- Market Talk 1215 GMT - The spread between summer and winter European gas contracts narrowed significantly at the end of March, according to data from Argus Media. The TTF summer 2025 contract was priced 0.0750 euros a megawatt hour above the 2025-26 winter contract as of March 31, a significant narrowing from the 2-euros-a-megawatt-hour spread seen earlier in the month. "Traders are factoring in more and more the likelihood that EU stores will not fill all the way to 90% by the start of November," says Natasha Fielding, head of European gas pricing. "This is actually shifting some risk from the summer into the coming winter; instead of particularly strong summer restocking gas demand, we may see a tighter winter market in which there is less of a storage buffer." The benchmark TTF contract trades 2.4% higher at 41.66 euros a megawatt hour. (giulia.petroni@wsj.com) Brent Is Back Above $75 a Barrel Amid Trade Concerns, Trump Threats -- Market Talk 1045 GMT - Oil prices gain in midday trade, with Brent crude back above $75 a barrel as the market weighs the potential impact of a widening global trade war and U.S. President Trump's threats against Russia and Iran. In midday trade, Brent and WTI are both up 0.5% at $75.13 and $71.84 a barrel, respectively. The contracts settled at five-week highs in the previous trading session, boosted by fears of tightening supplies. "Secondary tariffs against Iran would have the potential to significantly restrict oil supplies," Commerzbank Research's Carsten Fritsch says. "In our opinion, the likelihood of this is higher than in the case of Russia." Still, prices aren't expected to rise much further as OPEC+ starts raising output and Trump prepares to announce a whole new set of tariffs, which could push demand concerns back into focus, according to the commodity analyst. (giulia.petroni@wsj.com) Base Metals Mixed Amid Chinese Data, Looming U.S. Tariffs -- Market Talk 0937 GMT - Base metal prices are mixed amid expanding manufacturing activity in China and looming U.S. tariffs. LME three-month copper rises 0.3% to $9,743 a metric ton, while three-month aluminum falls 0.5% to $2,521 a ton. The latest Chinese PMI figures--a snapshot of the economic health--showed manufacturing activity continue to expand, with the official manufacturing purchasing managers' index at 50.5 in March compared with 50.2 in February. However, market sentiment remains weak ahead of President Trump's announcement on reciprocal tariffs due on Wednesday. "Ongoing tariff uncertainty continues to bring more copper into U.S. markets, reflected in the persistent tightening of the COMEX/LME arbitrage," Sucden Financial's Daria Efanova and Viktoria Kuszak say. "However, in Europe, the absence of solid fundamental demand is limiting the upside potential for prices." (giulia.petroni@wsj.com) European Gas Price Falls as Injection Season Kicks in -- Market Talk 0928 GMT - European natural-gas prices edge lower in early trade as the storage refill season begins. The benchmark Dutch TTF contract falls 0.5% to 40.47 euros a megawatt hour and is down 8.5% on the month. "Withdrawals from storage have moved lower and even reverted to injections in recent days as Europe exits a cold winter," says RBC Capital Markets' Adnan Dhanani. EU storage is 33.7% full, with a target to refill to 90% by Nov 1. "Our modeling continues to suggest that Europe will nonetheless meet the target by capturing a 26% share of the LNG market in the coming months," the analyst says. Meanwhile, LNG demand pressure from China remains weak amid increased gas flows from Russia and continued growth in domestic gas production, according to RBC. (giulia.petroni@wsj.com) Oil Eases Amid Trade War Concerns -- Market Talk 0809 GMT - Oil prices ease on Tuesday after posting sharp gains in the previous trading session, as investors fear looming U.S. tariffs could hurt global demand. In early trade, Brent crude and WTI are both down 0.4% to $74.47 and $71.17 a barrel. Futures surged on Monday following U.S. President Donald Trump's threats to impose tariffs on buyers of Russian oil and take military action against Iran if Tehran didn't reach an agreement over its nuclear program. "For now, it appears to be just a threat to Russia and Iran," ING analysts say. "However, if it becomes a reality, it creates plenty of upside risk to the market given the significant oil export volumes from both countries." The market is now awaiting Trump's reciprocal tariffs announcement to assess the scope of the new levies, as well as U.S. inventory data for further insights into demand trends. (giulia.petroni@wsj.com) Gold Hits Fresh Record as U.S. Tariffs Loom -- Market Talk 0754 GMT - Gold prices extend their rally on Tuesday, hitting a fresh record as fears of a widening trade war ahead of U.S. President Trump's tariff rollout drive a rush toward the safe-haven asset. In early trade, futures rise 0.3% to $3,159.30 a troy ounce, after reaching a high of $3,177 a troy ounce earlier. "Given the general risk-off tone and stagflationary fears, gold put in its best quarterly performance since 1986," analysts at Deutsche Bank Research say. Gold is up more than 19% so far this year, as fears of an escalating global trade war and central-bank buying boost its appeal as a hedge against geopolitical and economic instability. Traders are now bracing for Trump to unveil reciprocal tariffs on U.S. trading partners on Wednesday, fearing that the new levies could hurt global growth and drive up inflation. (giulia.petroni@wsj.com) Iron Ore Rises Amid Positive Steel Production -- Market Talk 0245 GMT - Iron ore prices are higher in early Asian trade amid positive demand. Chinese steel mill production is active during peak season, Baocheng Futures says in a research note. The average daily molten iron ore production and imported iron ore consumption at sample steel mills were both strong last week, providing support for the ferrous metal's prices, it notes. However, ANZ Research analysts note that China's new home sales fell 11% in March on year, which suggests the property market's recovery remains fragile. Meanwhile, investors are cautious about President Trump's threatened tariffs that will roll out this week. The most-traded iron ore contract on the Dalian Commodity Exchange is up 0.6% at CNY782.5 a ton. (sherry.qin@wsj.com) China's Mining Spend is Climbing -- Market Talk (MORE TO FOLLOW) Dow Jones Newswires 04-01-25 0855ET
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  Publisher Name	MarketScreener
  Publisher URL	http://www.marketscreener.com
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  Trust Flow Score	23
  Citation Flow Score	26

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  Data Source Name	Quantexa News
  Data Source Type	news
  Data Source URL	https://app.aylien.com/dashboard
  Description	Welcome to Quantexa News API — the most powerful way to aggregate, filter, and integrate global news data into your apps and models.
  Weight	10