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Oil prices rebounded in Asia on Wednesday, partially reversing further declines overnight, as an industry-group reading showed a sizable decline for last week in U.S. oil and gasoline stockpiles.

Colorado Explosion in April Blamed on Leak Near Anadarko Well

An explosion that killed two people and severely injured another at a Colorado home two weeks ago was caused by natural gas leaking from an abandoned line that remained attached to a nearby well owned by Anadarko Petroleum Corp., authorities said Tuesday.

BP Swings to Profit as Oil Sector Shakes Off Woes

BP was the latest big oil company to report a sharp increase in profit, adding to optimism that the sector may have passed the worst following the dramatic slump in energy prices

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Rising Oil Not Enough To Rescue ConocoPhillips From Loss

Higher oil prices helped ConocoPhillips slim its first-quarter loss excluding special items to $19 million, or a loss of 2 cents a share, but it still missed consensus estimates.

Saudi Deputy Crown Prince Warns of Further Belt-Tightening

Saudi Arabia's powerful deputy crown prince defended a decision to reverse a contentious government austerity program by reinstating perks for state employees, but cautioned more belt-tightening could follow if oil prices dropped.

Royal Dutch Shell Earnings: What to Watch

Investors will focus on Shell's profit as oil prices are significantly higher than a year earlier. Favorable oil prices have boosted earnings at other major oil companies, and Shell is expected to be no exception.

U.S. Crude Oil Stockpiles Seen Decreasing in DOE Data

Oil inventories are projected to have decreased by 1.8 million barrels, while gasoline stockpiles are expected to show an increase of 700,000 barrels

Suspected Gas Leak Investigated at INEOS Facility

Firefighters have been called to the scene of a suspected gas leak at a Scottish refinery run by London-based petrochemical manufacturer INEOS Group.

On Climate, Uncertainty Is Not the Same as Agnosticism

Greg Ip disagrees with Bret Stephens's implication that uncertainty negates the case for climate action.

Saudi Middle Class Needs to Live Without State Help, IMF Says

The sharing of oil wealth through government jobs and lavish subsidies is no longer sustainable for Saudi Arabia and its neighbors in the Middle East, the International Monetary Fund says.

Pembina to Buy Veresen for $4.3 Billion

Pembina Pipeline agreed to buy Veresen for about $4.3 billion in a deal that combines two Canadian energy companies as prices stabilize.

(END) Dow Jones Newswires

May 03, 2017 00:15 ET (04:15 GMT)