News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Growing Shale Output Drags Oil Prices Lower

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Oil prices were down on fresh U.S. data showing a further ramp-up in shale production. Brent crude, the global benchmark, fell 0.3%, to $50.12 a barrel.

Natural Gas Up After Storage Data

Natural-gas prices rose after government data showed that U.S. total working gas in storage increased by 53 billion cubic feet, compared with analysts' expectations for an increase of 46.3 billion cubic feet. The data, however, included revisions to previous weeks' figures.

Elliott Management Wants Energen to Explore Sale Options

Elliott Management has built a big position in Energen Corp., a natural-gas company already under pressure from another activist to sell itself. The hedge fund owns a stake between 4% and 5% and is joining with Corvex Management LP to urge a sale.

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Henry Hub Emerges as Global Natural Gas Benchmark

The Henry Hub in Louisiana has for years been a benchmark for U.S. contracts. Now it is helping to set prices from Mozambique to Japan, as a wave of U.S. natural gas being unlocked by shale drillers reaches Europe, South America and Asia.

Behind Henry Hub's Success in Natural Gas Market

Henry Hub wasn't the first choice when Nymex officials began looking for a place that could form the basis of a new contract that would allow natural gas futures to be traded. But once it launched in 1990, it was nearly an overnight success.

OPEC's Sick Man, Venezuela Could Jolt Oil Market

Venezuela's already falling oil production will get worse before it gets better, potentially roiling global energy markets.

Jim Hackett's Blank-Check Acquisition Company Finds a Target

Investors this spring gave former Anadarko Petroleum CEO Jim Hackett $1 billion to go forth and find yield. Now he's putting that money into the merger of exploration outfit Alta Mesa Holdings and pipeline company Kingfisher Midstream.

Elliott Moves to Block Berkshire Bid for Oncor; Buffett Stands Pat

Elliott Management has purchased a slice of debt that would ensure the hedge fund's ability to block Warren Buffett's deal to buy power-transmission business Oncor, according to people familiar with the matter.

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.

(END) Dow Jones Newswires

August 17, 2017 11:15 ET (15:15 GMT)