News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Gains on Report of Inventory Draw

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Oil prices recovered after an industry group said U.S. inventories fell last week. The American Petroleum Institute said data for the week ended June 30 showed a 5.8-million-barrel decrease in crude supplies and 5.7-million-barrel fall in gasoline stocks.

Ships Exporting Iranian Oil Go Dark, Raising Sanctions Red Flags

Ships chartered by two oil traders responsible for a significant share of Iran's fuel exports last year failed to transmit their location and the origin of their cargo-red flags for governments seeking evidence of evasion of sanctions on Tehran.

Saudi Aramco Crude Production at All-Time High in 2016

The world's biggest producer of crude oil pumped record amounts last year, Saudi Arabian Oil Co. said, providing an insight into the secretive firm ahead of its partial IPO.

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U.S. Crude Oil Supplies Expected to Show Decrease in DOE Data

U.S. crude-oil inventories are expected to show a decrease of 2.5 million barrels in data due Thursday from the Department of Energy. Gasoline stockpiles are expected to show a decrease of 1.4 million barrels.

Tesla's Sales Raise New Fears Ahead of Model 3

Tesla shares took a beating after analysts questioned whether customer demand for its two electric vehicles is waning as the company begins producing a cheaper sedan.

Qatar Lashes Back at Demands by Saudi-Led Group

Qatar's foreign minister says the four Mideast nations are waging 'unprecedented smear campaign' against his country, while his Egyptian counterpart says Doha isn't serious about resolving dispute.

Saudi Aramco Cuts Oil Prices in Asia As Competition Rises

Saudi Arabia's state-run oil giant Aramco said it would cut the price of its lighter crude grades to Asia in August, amid rising competition from rival producers in the Organization of the Petroleum Exporting Countries.

Coal, Nuclear on Losing End of Power Shift

A transition is happening across the U.S. power grid: Natural gas, wind and solar power are expanding rapidly, while electricity generation from coal and nuclear reactors is shrinking.

Volvo to Switch to Electric, in First for Major Auto Firm

Volvo will become the first major auto maker to abandon the conventional car engine-technology that has powered the industry for more than a century. All new Volvo models from 2019 would be either fully electric or a hybrid.

Behind Oil's Ups and Downs, Little Has Changed

Oil investors took an unwelcome rollercoaster ride in June-unfortunately optimism on slowing U.S. supply, which is now pushing prices back up, also looks overdone

(END) Dow Jones Newswires

July 06, 2017 11:16 ET (15:16 GMT)