While the broader energy market recoiled from the prospect of increased supply, institutional capital continues to flow into long-term infrastructure assets. A consortium spearheaded by Blackstone has committed $3.1 billion to acquire a stake in a major natural-gas liquefaction project in Canada, currently held by Mitsubishi. This investment signals that despite short-term volatility in crude prices, major players remain focused on the multi-year demand outlook for liquified natural gas.
In section Market Quotes
Energy Stocks Retreat as Oil Prices Plummet on Iran Deal Hopes
Global oil markets faced a sharp correction on Tuesday as futures tumbled 7.4% to $96.46 a barrel in New York. The sudden decline, which dragged down energy sector equities, follows growing market optimism that the United States and Iran are poised to resume critical negotiations regarding their nuclear program.
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