News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Slips After Hitting Three-Year High

Continue Reading Below

Oil prices fell as some investors cashed in on the week's strong gains and others mulled ambiguous U.S. inventory data.

Trump Administration Proposes Massive Expansion of Oil Drilling

The Trump administration proposed opening up nearly all the country's offshore areas for oil drilling, a move that would touch every coastal state, some that have been off limits to drillers for decades.

Westinghouse, Once an Industrial Powerhouse, Is on Brink of Sale

Brookfield Business Partners and institutional partners have reached a deal to buy troubled nuclear contractor Westinghouse Electric for $4.6 billion.

Continue Reading Below

U.S. Sanctions Iran Over Missile Program, Amid Protests

The U.S. imposed economic sanctions against five Iranian entities tied to the country's ballistic missile program, a move aimed to punish Iran's management of its economy as thousands of Iranians take to the streets to protest their government.

U.S. Oil Supplies Fall But Fuel Inventories Surge

U.S. inventories of crude oil fell by 7.4 million barrels for the week ended Dec. 29, more than expected, while supplies of gasoline and diesel fuels exploded higher, according to EIA data.

Natural Gas Declines on Disappointing Inventory Data

Natural-gas prices settled more than 4% lower on Thursday, after government data showed a smaller-than-expected decline in stockpiles despite extreme cold across half the U.S.

An $820 Million Bet That It's a Buyer's Market in West Texas

Energy investment firm NGP staked Austin-based Luxe Energy with $820 million to build another oil explorer.

Why Did New England Gas Prices Jump Nearly 90%? Blame the Storm

A major winter storm pounding the East Coast is driving up heating demand and energy prices, as the eastern half of the U.S. grapples with a stretch of extreme cold not seen in years.

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.

(END) Dow Jones Newswires

January 05, 2018 07:15 ET (12:15 GMT)