Oil Prices Slide After EIA Report Shows Rise in U.S. Supplies
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Oil prices fell after government data showed that crude supplies in the U.S. unexpectedly grew last week as exports declined and production increased.
U.S. Oil Inventories Unexpectedly Increase
U.S. inventories of crude oil unexpectedly increased by 2.2 million barrels for the week ended Nov. 3, even as refinery activity sped up, according to EIA data. Analysts expected a decline of 2.1 million barrels. Gasoline stockpiles fell by 3.3 million barrels, more than expected.
Total Expands Natural Gas Business with $2 Billion Deal
Oil giant Total SA has agreed to buy French utility Engie SA's liquefied-natural gas business for as much as $2 billion in a deal that would eventually make it the second-largest LNG player among Western energy firms.
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EU Proposes Rules for Offshore Gas Links as Russian-Owned Nord Stream 2 Nears
The European union proposed Wednesday to extend its natural-gas regulations to offshore pipelines, marking the latest effort to derail an energy link between Russia and Germany that is fueling tensions within the bloc.
GenOn Wins Bankruptcy Battle with Power-Plant Owners
A court ruling cleared the way for power-plant operator GenOn Energy to separate from NRG Energy and gain court-approval of its chapter 11 bankruptcy plan.
GulfMark Bondholders Battle Departing Leaders Over Cash
Bondholders poised to take over GulfMark Offshore Inc. say the struggling company is being held up in bankruptcy by departing directors who are demanding nearly $5 million worth of golden parachutes.
EU Unveils Proposal to Cut Vehicles' Carbon-Dioxide Emissions
The European Union proposed a 30% cut in carbon-dioxide emissions from cars and vans in the decade through 2030, seeking to prod auto makers toward cleaner technologies led by electric vehicles and curb climate change.
Holders of Venezuelan Bond Default Insurance Trying to Collect
Holders of Venezuelan bond default insurance are trying to collect, contending that the state-owned oil company failed to make a recent payment.
OPEC Says Oil Demand Will Grow Past 2040
OPEC doesn't expect global demand for oil to peak before 2040, the cartel said, though it predicted long-term demand growth would soon slow.
Maersk Swings to Loss
Maersk booked a quarterly loss, hurt by a recent cyberattack and an impairment charge on its offshore oil-exploration unit, but executives predicted a stronger performance as a shipping industry recovery takes hold.
(END) Dow Jones Newswires
November 08, 2017 16:15 ET (21:15 GMT)