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.
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.
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.
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Natural Gas Rises on Storage Data Revision
Natural-gas futures settled higher after government data showed that stockpiles grew more than expected last week, but revised figures indicated that the total amount of natural gas in storage was lower than previously thought.
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.
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.
Vestas Earnings Miss Forecasts as Big Share Buyback Announced
Danish wind-turbine maker Vestas Wind Systems announced a new share buyback program despite saying earnings dropped in the second quarter as deliveries in Europe, the Middle East and Africa fell sharply.
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 16:15 ET (20:15 GMT)