News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil At Two-Week Low

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Oil prices fell to a two-week low Wednesday as investors continued to cash in on last week's bullish market and retrace crude's upward march.

U.S. Oil Inventories Fall Sharply in Latest Week

U.S. crude-oil inventories decreased by six million barrels, weekly government data showed, much more than the 300,000 barrels expected by analysts. Gasoline supplies rose by a greater-than-expected 1.6 million barrels.

Egyptian Company to Develop Mature Oil Fields With Mexico's Pemex

Mexican state oil company Petróleos Mexicanos' effort to secure a partner for two shallow-water fields in the Gulf of Mexico fell flat as no companies made bids at an auction.

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GulfMark Offshore Cleared to Exit Bankruptcy

GulfMark Offshore won court permission to exit bankruptcy Wednesday after raising $250 million to help dig its oil-and-gas service operation out of financial trouble.

Oil-Price Forecasts Fall for Fifth Month in a Row

Banks cut their oil-price forecasts for a fifth consecutive month despite a recent price rally amid concerns that the oversupply of crude will grow next year.

U.S. Auto Makers Step Up Plans for Electric Vehicles

Detroit's largest auto makers ramped up plans for electric vehicles in coming years. GM plans to introduce two more electric vehicles over the next 18 months, and Ford has formed a team to help direct investments toward new electrified vehicles.

Tesla Misses Model 3 Production Goals

Tesla badly missed its goal of building 1,500 Model 3 cars in the third quarter, only managing 260, in the first sign that the production ramp-up for the new sedan isn't going as smoothly as planned.

China, With Methodical Discipline, Conjures a Market for Electric Cars

Nearly half of all plug-in vehicles are sold in China, driven by multiple subsidies and regulations, creating a giant test bed for local design and technology. Global vehicle makers are accelerating their battery-powered efforts to keep up.

Oil Prices Bounce Back in Third Quarter

Oil investors got a reprieve from falling oil prices in the third quarter, thanks to unexpectedly strong demand for crude and signs of ebbing U.S. production.

U.S. Oil-Rig Count Rises by Six in Latest Week

The number of rigs drilling for oil in the U.S. rose by six in the past week to 750, according to oil-field services company Baker Hughes. The gas-rig count fell by one.

(END) Dow Jones Newswires

October 04, 2017 16:15 ET (20:15 GMT)