News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Falls Deeper Into Bear Territory

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Oil prices turned lower as investors shook off U.S. data showing that stockpiles continued to shrink and focused on relentlessly rising production amid doubts that the global oil glut is going away.

U.S. Oil, Gasoline Supplies Decline

U.S. crude-oil inventories decreased by 2.5 million barrels for the week ended June 16, more than expected, according to EIA data. Gasoline supplies also had a larger-than-expected decline.

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.

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White House Backs Nuclear Plant Tax-Credit Extension

The White House endorsed a proposal to extend a tax-credit window for a half-finished Georgia nuclear plant caught up in the bankruptcy of Toshiba Corp.'s nuclear construction subsidiary, Westinghouse Electric.

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.

China Titans Affiliate to Buy Aquion Clean-Energy Assets

Purchaser will pay $9.1 million after a competitive auction

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.

Saudi Stocks Rally on Possible 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.

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.

(END) Dow Jones Newswires

June 21, 2017 16:16 ET (20:16 GMT)