Infrastructure and Energy Alternatives, Inc.·Industrials

Elusive Iran peace talks and supply risks keep the bullish case for energy markets intact. Check these energy ETFs to ride the upside.

IEA Executive Director Fatih Birol said the single most important solution to the Iran war energy shock is a full and unconditional reopening of the strategically vital Strait of Hormuz.

The start of peak summer fuel demand combined with the lack of new oil exports from the Middle East and depleting stocks could push the oil market into the "red zone" in July-August, the head of the International Energy Agency said on Thursday without elaborating.

Fatih Birol, head of the International Energy Agency, said on Monday that commercial oil inventories were depleting rapidly amid the Iran war and the closure of the Strait of Hormuz, and that those inventories only had a few weeks left.

With more than 14 million bpd of supply cut, the overall loss from Gulf producers is now over a billion barrels, the IEA said. OPEC production fell by 1.7 million bpd in April and has declined more than 30%, since the war started in late February.

Oil prices could rise further over the summer as rapidly depleting inventories pile more pressure on the market, the IEA said. The energy agency also flagged further demand destruction as a result of the war, forecasting a contraction of 420 thousand barrels per day by the end of 2026.
Infrastructure and Energy Alternatives, Inc., through its subsidiaries, operates as a diversified infrastructure construction company in the United States. The company engages in providing engineering, procurement, and construction (EPC) services for the renewable energy, traditional power, and civil infrastructure industries. It operates in two segments, Renewables and Specialty Civil. The Renewables segment provides a range of services, including full EPC project delivery, design, site development, construction, installation, and maintenance of infrastructure services for the wind and solar industries. The Specialty Civil segment offers a range of services that comprise environmental remediation services, such as site development, environmental site closure, and outsourced contract mining and coal ash management services; rail infrastructure services, including planning, design, procurement, construction, and maintenance of infrastructure projects for railway and intermodal facilities; and heavy civil construction services consisting of road and bridge construction, specialty paving, and industrial maintenance, as well as other local, state, and government projects. The company was founded in 1947 and is headquartered in Indianapolis, Indiana. As of October 7, 2022, Infrastructure and Energy Alternatives, Inc. operates as a subsidiary of MasTec, Inc..
Industrials
Engineering & Construction
3,718
2016-07-07
1.73