News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Hovers Around Bear-Market Lows

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Crude futures were volatile on Wednesday and hovered around bear-market lows ahead of the release of official U.S. oil stock data.

Saudi King Salman Ousts Nephew as Crown Prince, Installs Son

King Salman named his son as the country's new crown prince, a move that carries far-reaching implications for the monarchy and the biggest economy in the Middle East.

MSCI to Consider Saudi Arabia for Emerging Market Classification

Index provider MSCI Inc. has said it would consider classifying Saudi Arabia as an emerging market as early as next year, a move that could potentially divert billions of dollars into the Middle East's biggest economy.

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State Department Demands Saudis Prove Terror Allegations Against Qatar

The State Department questioned the motives of Saudi Arabia and other Arab countries that have imposed an embargo on Qatar, breaking from President Donald Trump's vocal support for those aligned against the country.

Saudi Aramco's IPO Plans Strengthened by Royal Reshuffle

Mohammed bin Salman's promotion to crown prince of Saudi Arabia will drive forward his plan to list the kingdom's state oil company and strengthen his mandate to diversify its economy.

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.

Rampaging Oil Bears Are Missing Half the Picture

Oil has a U.S. supply problem, but unlike in previous downturns, demand still looks firm-for now.

Five Reasons Why Oil Is Falling

Oil prices this week plunged into a bear market amid signs the three-year old global glut of crude will take longer to abate. Here are five reasons oil prices are under pressure.

La Paloma Creditor Looks to Seize Chapter 11 Case

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

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.

(END) Dow Jones Newswires

June 21, 2017 11:16 ET (15:16 GMT)