News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Falls on Dollar, Oversupply

Continue Reading Below

Oil prices slid further Friday after a surge in the dollar, accelerating an already sharp downturn tied to re-emerging fears of oversupply.

U.S. Oil-Rig Count Rises by Seven

The number of rigs drilling for oil in the U.S. rose by seven in the past week to 763, according to oil-field services company Baker Hughes

OPEC Considers Production Caps for Libya, Nigeria

OPEC is considering putting a limit on how much oil members Nigeria and Libya can pump, cartel delegates say, as surging production from those countries is complicating the cartel's plans to influence crude prices.

Continue Reading Below

Wall Street Cash Pumps Up Oil Production Even as Prices Sag

Easy Wall Street funding is leading American shale companies to expand drilling even as most lose money on every barrel of oil they bring to the surface.

Natural-Gas Prices Settle Lower

Natural-gas prices settled back near a one-year low Friday after government data showed a larger-than-expected storage addition for last week.

Tesla Updates Quarterly Sales Report With Additional Data

Tesla Inc. on Friday updated its second-quarter sales report to include the number of vehicles that were in transit at the end of the period-a number that was absent in the report earlier in the week and had triggered questions from analysts.

Electric Cars Need More Than Fans

Electric vehicles threaten oil's future as they are being favored by governments and even traditional manufacturers like Volvo, but they must keep improving to overcome the advantage of conventional cars.

Russia Ready to Consider Adjusting Oil Output Deal

Ministers from leading oil producers will meet in St. Petersburg on July 24 to monitor implementation of the agreement reached earlier this year to cut production. The meeting could also "make recommendations on further steps, if necessary," Russia's energy ministry said.

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

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

Tesla Plans Giant Lithium-Battery System in Australia

Elon Musk has agreed to build the world's largest lithium-ion battery system in Australia, a project he hopes will show how the technology can help solve energy problems.

(END) Dow Jones Newswires

July 07, 2017 16:16 ET (20:16 GMT)