News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Broad Crackdown Reins In Saudi Elite

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A sweeping weekend roundup of more than five dozen princes, ministers and prominent businessmen in Saudi Arabia marks a dramatic escalation in the crown prince's effort to consolidate power and accelerate far-reaching change in the kingdom.

Iran-Saudi Cold War Intensifies as Militant Threat Fades

A cold war between Saudi Arabia and Iran, fought with proxies seeded across the Middle East, is sharply escalating as the two powers jockey to shape a regional order devoid of Islamic State.

Oil Continues to Gain on Investor Optimism

Oil prices advanced to a fresh two-year high, buoyed by expectations for OPEC to extend its deal to cut production and the steady reduction of excess U.S. supply.

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U.S. Oil and Gas Rig Counts Fall

The number of rigs drilling for oil in the U.S. fell this week by eight to 729, Baker Hughes, a GE company, reported.

Oil Prices Hit Two-Year High, Fueled by Global Growth

The global economy has seen rapid growth in oil-consuming sectors such as trade and industrial activity, absorbing the surplus fuel supplies that have weighed on the market.

Electric-Vehicle Tax-Credit Proposal Slows Tesla, Detroit

Shares of domestic auto makers largely suffered after news the House Republican tax plan would kill the electric-vehicle tax credit, a trend that further hits an already beleaguered Tesla Inc.

PG&E Pressed on Potential Liabilities From California Wildfires

PG&E Corp. had few answers Thursday as analysts pressed the utility to address its potential liability in the wildfires that killed more than 40 people in California last month.

House Plan Would Eliminate Electric Vehicle's Tax Credit

The House GOP tax plan would eliminate the electric vehicle's tax credit, a proposal that would effectively end thousands of dollars of built-in discounts for buyers and threaten to further damp sales.

Syria and Iraq Rob Islamic State of Key Territory

Islamic State lost two of its last toeholds in Syria and Iraq, leaving the extremist group clinging to a sliver of the territory it captured three years ago, its self-declared caliphate almost completely wiped out.

Royal Dutch Shell Closes Out Strong Quarter for Global Oil Firms

Royal Dutch Shell said profits nearly tripled in the third quarter, helped by recovering oil prices, better conditions for its refineries and an increase in oil-and-gas production.

(END) Dow Jones Newswires

November 06, 2017 00:15 ET (05:15 GMT)