News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Falls on Rising U.S. Gasoline Supplies

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Oil prices fell to a three-week low on Wednesday after government data showed a steep rise in U.S. fuel inventories.

U.S. Oil Inventories Fall as Refinery Activity Surges

U.S. inventories of crude oil fell by 5.6 million barrels to 448.1 million barrels, as refinery capacity utilization increased sharply, according to data released by the Energy Information Administration. Gasoline stockpiles climbed 6.8 million barrels to 220.9 million barrels.

Wall Street's Fracking Frenzy Runs Dry as Profits Fail to Materialize

The shale-oil revolution boosted production and made America the world's oil-and-gas champion. Now, shareholders are insisting producers start focusing on returns for a change.

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Move Over, Cushing: Houston Emerges as Oil Trading Hub

Houston has long been the capital of the U.S. energy industry. Now it is vying to be the center of global oil trading, as analysts say the Houston price better reflects market dynamics for U.S. crude than Cushing, Oklahoma.

Analysts See 7 Billion-Cubic Feet Drain from U.S. Natural-Gas Inventories

Analysts expect government data scheduled for release Thursday to show that natural-gas stockpiles declined by 7 billion cubic feet of gas, less than usual for this time of year.

Duke Energy Says Some Customers May Be Affected by Data Breach

Duke Energy Corp. said Tuesday some of its customers may have been affected by a data breach revealed by PayPal Holdings Inc. last week.

Westinghouse Formulates Chapter 11 Exit Plan

Westinghouse Electric Co. said it has begun formulating a chapter 11 plan with creditors and anticipates filing the plan with the bankruptcy court by spring.

Ponderosa Energy Files for Chapter 11 Bankruptcy

Ponderosa Energy LLC says it was driven into bankruptcy by a "fraudulent" and "usurious predatory" lender that has tried to foreclose on its properties and that reneged on a deal to pay millions of dollars in rebates to the small oil-and-gas company.

Georgia Power Settles with Westinghouse

Georgia Power, a subsidiary of Southern Co., said it reached a settlement with Toshiba Corp.'s Westinghouse Electric unit to get all remaining payments from the bankrupt nuclear power company.

Venezuela's U.N. Envoy Resigns

Venezuela's top representative to the U.N., Rafael Ramírez, said he resigned his post at the request of President Nicolás Maduro amid the continuing political crisis in the beleaguered oil-exporting nation

(END) Dow Jones Newswires

December 06, 2017 16:15 ET (21:15 GMT)