News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Geopolitics Drive Oil to Three-Year High

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Oil prices hit a three-year high, with ongoing protests in major producer Iran adding a geopolitical risk premium to the market.

Dominion Energy to Buy Scana, Which Had Ended a Nuclear Project

Dominion Energy Inc. has struck a deal to buy troubled energy company Scana Corp., ushering in the final chapter for Scana's South Carolina nuclear project after it was abandoned when construction costs skyrocketed.

Petrobras to Pay $2.95 Billion to Settle U.S. Corruption Suit

Brazilian state-run oil company Petróleo Brasileiro said it would pay one of the highest-value settlements in history to end a class-action lawsuit by U.S. investors who had sought to recoup corruption-related losses.

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Mexican Motorists Wary About Gasoline Prices

Mexicans have encountered some wide price variations in the country's newly competitive retail gasoline market, drawing fears of steep increases and prompting authorities to deny any inordinate rise of pump prices.

U.S. Crude-Oil Supplies Seen Decreasing in DOE Data

U.S. crude-oil inventories are expected to show a decrease of 4.7 million barrels in data due Thursday from the Department of Energy. Gasoline stockpiles are expected to rise by 2 million barrels on average, according to analysts.

Analysts See Large Drain from U.S. Natural-Gas Inventories

Analysts expect government data scheduled for release Thursday to show that stockpiles declined by 222 billion cubic feet, twice as much as usual for this time of year.

Gas Market Feels the Chill

Natural gas prices have rallied on a cold snap, yet supplies seem ample. A continuation of frigid weather could send prices surging more strongly in an echo of a rally four years ago.

Big Oil Investors Rethink Their Bets

Some big investors and banks are rethinking investments in an oil and gas industry wrestling with uncertain oil demand, government regulation and disruptive technology like electric vehicles.

Foreign Firms Rush Washers, Solar Panels Into U.S. Amid Trade Fears

Foreign makers of products including washing machines and solar panels are ramping up shipments to the U.S. ahead of government decisions on whether to erect new barriers, trade data show.

BP Expects $1.5 Billion Charge Related to U.S. Tax Overhaul

BP is joining a host of companies whose earnings will be dented by the U.S. tax overhaul, saying it would suffer a roughly $1.5 billion accounting charge in the fourth quarter because of the legislation.

(END) Dow Jones Newswires

January 04, 2018 07:15 ET (12:15 GMT)