News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Advances Amid Optimism on Falling Inventories

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Oil prices edged higher morning, helped by continued, if moderate, investor optimism over a drawdown in U.S. crude stockpiles.

Energy Capital Partners Near Deal to Buy Calpine

Private-equity firm Energy Capital Partners is nearing a deal to buy power-generation company Calpine Corp., according to people familiar with the matter.

Hackett Plans Heavy Investments With His New Oklahoma Shale Play

Oilman Jim Hackett said Thursday that his new venture would increase drilling in Oklahoma's Stack shale play and spend heavily on pipelines, storage facilities and gas-processing plants.

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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.

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.

Natural Gas Prices Settle Higher on Storage Data Revision

Natural gas futures settled higher Thursday, snapping a four-session losing streak 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.

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.

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.

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.

(END) Dow Jones Newswires

August 18, 2017 07:15 ET (11:15 GMT)