News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Extends Rally as Stockpiles Slide and Risks Remain

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Oil prices continued to rise, boosted by declining U.S. crude stockpiles and ongoing geopolitical risk.

New York City Sues Oil Companies in Climate Change Lawsuit

Mayor Bill de Blasio said his administration had filed a lawsuit against five major oil companies and was pushing New York City pension funds to divest from fossil fuel, both part of an effort to fight climate change.

U.S. Oil Supplies Fall as Fuel Supplies Rise

U.S. inventories of crude oil fell by 4.9 million barrels for the week ended Jan. 5, nearly double the expected amount, while supplies of processed fuels increased, according to EIA data.

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Explosion on Wrecked Iranian Tanker Halts Recovery Efforts

An Iranian oil tanker that collided with a cargo ship off China's eastern coast over the weekend experienced an explosion, forcing rescuers to retreat.

Tullow Oil Sees Strong Performance in 2017

Tullow Oil said that it delivered a strong operational and financial performance in 2017, and that it expected to report revenue of $1.7 billion for the year.

Florida Lawmakers Balk at Rollbacks in Drilling-Safety Rules

A bipartisan group of lawmakers who represent coastal Florida has called on Interior Secretary Ryan Zinke to reject proposed rollbacks in offshore drilling rules that were adopted in response to the 2010 Deepwater Horizon oil spill.

Carl Icahn Pushes SandRidge to Make Board Changes

Less than two weeks after SandRidge Energy succumbed to investors' wishes to terminate a deal to buy Bonanza Creek Energy, activist investor Carl Icahn is urging the company to make changes on its board and let his firm appoint a new director.

Trump Administration Says Drilling Won't Be Allowed Off Florida Coast

The Trump administration told Florida's governor it won't consider new oil and gas drilling off the state's coast, backtracking on plans to expand offshore drilling all around the U.S. and bowing to pressure from fellow Republicans in the state.

Federal Regulators Rule Against Trump Administration on Power Plants

Federal energy regulators Monday rejected a Trump administration proposal aimed at shoring up struggling coal-fired and nuclear power plants.

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.

(END) Dow Jones Newswires

January 10, 2018 16:15 ET (21:15 GMT)