Driven largely by demand from businesses such as data centers and the oil and gas industry, the Electric Reliability Council of Texas, the state’s grid operator, predicts the state’s energy needs will nearly double in six years.
Oil climbed from the lowest closing price in four years on signs that production from the US may contract in the months ahead. West Texas Intermediate advanced 3.4% to settle above $59 a barrel after tumbling more than 9% during the past six sessions.
Curious Minds Corner
How deep does the deepest oil well go?
The Z-44 Chayvo well (Sakhalin-1 project, Russia) reached a record measured depth of 12,376 meters (over 7.7 miles).