News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Prices Hold Gains on Tighter U.S. Stocks, Global Supply

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Crude prices rose Monday, holding onto robust gains made last week on tighter stocks in the U.S. and perceived risks to global supply.

China's Electric Car Market Has Grown Up

Beijing has offered the electric car market plenty of support, but there now appears to be solid demand from consumers to go green. That should give confidence to investors in the sector.

Iranian Oil Tanker at Risk of Exploding and Sinking, China Says

The Shanghai Maritime Safety Administration said areas surrounding the Sanchi tanker were still burning, as well as giving off poisonous gas that hindered rescue work.

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Norway's Statoil Expects to Benefit From U.S. Tax Overhaul

Norway's Statoil said the reduction in the U.S. corporate-tax rate from 35% to 21% will benefit the oil-and-gas giant.

U.S. Oil-Rig Count Falls By Five in Latest Week

The number of rigs drilling for oil in the U.S. fell by five this week to 742, Baker Hughes reported.

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.

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.

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.

(END) Dow Jones Newswires

January 08, 2018 16:15 ET (21:15 GMT)