News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Prices Waver as Supply Declines

Continue Reading Below

Oil prices closed lower after storage data showed that crude inventories fell by less than some traders expected last week.

U.S. Oil and Fuel Inventories Decline Sharply

Crude-oil stockpiles fell by 2.4 million barrels to 454.9 million barrels but are still in the upper half of the average range for this time of year, the EIA said.

Analysts See Large Addition to U.S. Natural-Gas Inventories

Analysts expect government data scheduled for release Thursday to show that stockpiles rose by 62 billion cubic feet, more than average for this time of year.

Continue Reading Below

Armstrong Energy Files for Chapter 11 Bankruptcy Protection

Coal-mining company Armstrong Energy Inc. filed for bankruptcy on Wednesday with a plan to turn over ownership of its struggling operations to a competitor and its lender.

U.S. Trade Panel Backs Solar Tariffs

Federal trade officials are recommending the Trump administration impose a tariff of up to 35% on imported solar panels to protect U.S. solar manufacturers from low-priced foreign products.

Utility Touts Electrification to Meet California Climate Goals

California can meet its goals for slashing greenhouse gas emissions, but it will require a massive shift to electric vehicles, charging stations and renewable energy, one of the state's biggest power companies said.

BP to Restart Share Buybacks as Oil Industry Regains Footing

BP on said it would restart its share buyback program after posting healthy third-quarter earnings, the latest signal that the oil industry has found its footing amid a modest crude-price recovery.

Scana Shakes Up Management

Scana said it would replace its chief executive and shake up its leadership ranks as the legal and financial reverberations of its ill-fated attempt to build a nuclear power plant in South Carolina continue.

Why Asia's Largest Oil Company Won't Reward Investors

PetroChina, which reported sharply higher third-quarter earnings Monday, has a lot of attractive features-state financial backing, enormous reserves, and a near-monopoly in the world's most-important natural gas growth market. But policy and market forces are shifting against it.

Mnuchin Presses Allies to Tighten Iran Sanctions

The Trump administration wants to work with Washington's allies to ramp up sanctions on Iran, U.S. Treasury Secretary Steven Mnuchin said, but he stopped short of calling for special action against firms conducting business with Iran's military corps.

(END) Dow Jones Newswires

November 02, 2017 00:15 ET (04:15 GMT)