News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Buffett's Berkshire Nears Deal to Buy Electric-Grid Giant

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Warren Buffett's Berkshire Hathaway is nearing a deal to buy one of the country's biggest power-transmission companies, which would cement electricity as one of the conglomerate's largest businesses.

Oil Prices Rally on Report of Drop in U.S. Inventory

Oil prices rebounded slightly after data showing a drop in U.S. stockpiles reignited a two-week-long rally.

U.S. Oil and Fuel Inventories Fall Sharply

U.S. crude-oil and gasoline inventories fell much more than expected for the week ended June 30, according to EIA data. Crude supplies fell by 6.3 million barrels when a decline of 2.5 million barrels was expected.

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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.

U.S. Oil Producers Find a Surprise New Market: China

China, one of the world's largest oil importers, is buying nearly 100,000 barrels of oil a day from the U.S., on average, the result of a surprise American glut that has made the country's oil cheaper than Mideast rivals.

Analysts See Average Addition to U.S. Natural-Gas Inventories

Analysts expect government data scheduled for release Friday to show natural-gas stockpiles grew by 64 billion cubic feet, roughly on par with their average increase for this time of year.

EnCap Seals $6.2 Billion So Far as Energy Swings Test Private Equity

EnCap Investments has scooped up about $6.2 billion in investor dollars so far for the largest energy-focused private-equity fund currently being raised.

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.

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.

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.

(END) Dow Jones Newswires

July 07, 2017 00:16 ET (04:16 GMT)