News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Falls as Production Increase Outweighs Stockpile Decline

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Oil prices fell to a three week low Wednesday as data showing an increase in U.S. oil production outweighed the largest weekly decline in oil stockpiles this year.

U.S. Oil Supplies Fall More Than Expected

U.S. inventories of crude oil declined by 8.9 million barrels for the week ended Aug. 11, nearly triple the 3 million expected, according to EIA data. Gasoline supplies rose by 22,000 barrels when a decline of 1 million barrels was expected.

Russian Ex-Minister Accuses Rosneft Oil Chief of Entrapment

A former Russian economy minister on trial for allegedly taking a $2 million bribe accused the head of the state oil company of entrapment, in the first hearing of a case that has raised speculation about power plays at the highest levels of the government.

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Energy Department Faces Pressure Over Power Study

Energy Secretary Rick Perry faces stepped-up pressure from environmental groups over power grid study he has signaled could help bolster coal and nuclear power.

Elliott Raises its Stake in BHP Billiton

Elliott Management Corp. Wednesday said it has increased its holding in BHP Billiton and signaled it backs the incoming chairman to act on the sweeping changes it has been seeking.

Canadian Miner Targets Citgo in Venezuela Fight

A Canadian mining company trying to collect on a $1.4 billion judgment against Venezuela is trying to seize shares of U.S.-based refiner Citgo Holdings Inc. in lieu of payment.

Why Blackstone Is Betting $7 Billion on Natural Gas

Private-equity firm Blackstone is making one of its biggest bets on the growth of natural gas production, wagering that even if gas prices remain stuck at depressed levels, it can profit.

Iranian President Threatens to Back Out of Nuclear Deal

Iranian President Hassan Rouhani threatened to revive his country's nuclear program if the U.S. continues to pile on sanctions, in a direct warning he is prepared to tear up a deal that set the stage for Iran's opening to the West.

Defaults Increase for 'Green' Loans

PACE loans are designed to help homeowners make eco-friendly upgrades to their homes. But the number of people defaulting on their payments is on the rise, according to tax data.

U.S. Believes North Korea Produces Its Own Rocket Engines

Experts have questioned if Kim Jong Un's regime obtained Soviet-designed rocket engines through illicit channels in Ukraine or Russia, but a U.S. intelligence official said Washington thinks Pyongyang can produce its own.

(END) Dow Jones Newswires

August 16, 2017 16:15 ET (20:15 GMT)