News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

U.S. Oil Falls Into Bear Market Amid Worries Over Supply Glut

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Oil prices fell to a new low this year, as investors remain skeptical about major oil producers' efforts to buoy the market by withholding petroleum supplies.

Total Pledges $1 Billion Investment in Iran Gas Field

France's Total plans to push forward with a $1 billion investment this summer in a giant Iranian gas field, the first commitment by a Western company to put real money into the Islamic Republic's re-emerging energy industry.

Big Oil Steps Up Support for Carbon Tax

Some of the world's largest oil companies and the country's biggest auto maker are joining a group that is pushing the U.S. government to tax carbon in an effort to slow climate change.

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Rio Tinto Rejects Glencore's $2.5 Billion Offer in Favor of Yancoal

Rio Tinto rebuffed a $2.5 billion offer by Glencore for its Australian coal assets and recommended that shareholders approve a previous bid by a Chinese company.

U.S. Crude Oil Supplies Seen Decreasing

U.S. crude-oil inventories are expected to show a decrease of 2 million barrels in data due Wednesday from the Department of Energy. Gasoline supplies are expected to show a decrease of 100,000 barrels.

La Paloma Creditor Looks to Seize Chapter 11 Case

LNV wants to force a sale of the California electric plant.

Australian Prime Minister Confirms Legislation to Control Gas Exports

Australia's conservative government will go ahead with legislation to put export controls on gas, Prime Minister Malcolm Turnbull said Tuesday.

Ukraine State Energy Chief Praises Senate Measure on Russian Pipeline

The head of Ukraine's state energy company cheered the U.S. Senate's decision to take aim at a Russian gas pipeline to Germany in sanctions legislation last week and urged the Trump administration to penalize companies helping Russia execute the project.

Mexico Awards 10 of 15 Blocks in Oil Auction

Mexico awarded 10 blocks of oil and gas for exploration and development to bidders from 10 different countries, including some of the world's major oil companies, at an auction in the capital Monday.

Brazil's Petrobras Settles Lawsuit With Shareholder Vanguard

Brazilian state-run oil company Petróleo Brasileiro SA, or Petrobras, said its board has agreed to settle a shareholder lawsuit filed by Vanguard Group to recover corruption-related losses.

(END) Dow Jones Newswires

June 20, 2017 16:16 ET (20:16 GMT)