Market Chatter: Fervo Agrees to Sell 400 Megawatts of Utah Geothermal Power to Alphabet's Google

MT newswire2026/09/01 10:55

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06:55 AM EDT, 09/01/2026 (MT Newswires) -- Fervo Energy (FRVO) has agreed to sell 400 megawatts of electricity from its Utah geothermal facility to Alphabet's (GOOG, GOOGL) Google, The Wall Street Journal reported Tuesday. Google plans to use the power for a future data center that it has not yet developed, and has secured an option to expand the agreement by about 600 megawatts by June 2030, the report said. Fervo and Google did not immediately reply to MT Newswires' request for comment. Shares of Fervo were up more than 15% in recent Tuesday premarket activity. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.

华尔街见闻•2026/11/10 18:41