News Highlights : Top Energy News of the Day
Oil Rises on Signs of Tightening Supply
Oil prices rose, supported by a record drop in gasoline inventories and signs that market supply and demand are coming back into balance.
U.S. Oil Stockpiles Rise After Hurricane Harvey
EIA data revealed U.S. inventories of oil jumped 5.9 million barrels, ahead of expectations of 3.7 million barrels, for the past week as continued refinery outages due to hurricane Harvey kept demand for crude oil low. Gasoline stockpiles fell by 8.4 million barrels when a decline of 3 million was expected.
Global Oil Supply Edged Lower in August
Global oil supply fell in August for the first time in four months, a result of Hurricane Harvey, declining OPEC output and summer production maintenance, according to the International Energy Agency.
Saudi Arabia Pushes OPEC on New Tack to Curb Oil Supplies
In seeking to further curtail global oil supplies and lift prices, Saudi Arabia wants to shift the emphasis to exports rather than output. OPEC's declines in exports aren't keeping pace with production cuts, a break with past trends.
Flynn Promoted Nuclear-Plant Project While in White House
As President Donald Trump's national security adviser, retired Lt. Gen. Mike Flynn promoted a controversial private-sector nuclear power project in the Middle East that had once involved Russian companies, according to former security-council staffers and others familiar with the effort.
Analysts See Large Addition to U.S. Natural-Gas Inventories
Analysts expect government data scheduled for release Thursday to show that natural-gas stockpiles rose by 83 billion cubic feet, more than average for this time of year.
Seadrill Files for Chapter 11 Bankruptcy Protection in Texas
Seadrill, one of the world's biggest offshore drilling companies, has filed for Chapter 11 bankruptcy protection at the Southern District Texas court as part of a plan to restructure roughly $10 billion in debt.
Fight With Power Plant Owners Snarls GenOn's Restructuring
NRG Energy's plan for a friendly divorce from GenOn Energy faces a court test this week as owners of power plants in Maryland ask a judge to award them as much as $620 million in damages.
Gasoline Supply Slowly Returns to Florida
Fuel supplies are slowing returning to Florida gasoline stations as ports reopen after Hurricane Irma, but gas remains hard to find in much of the state.
Herculean Task as Crews Race to Restore Power in Florida
Block by block and city by city, utilities face one of the largest power-restoration challenges in U.S. history as they bring back electricity to more than 15 million people left in the dark after Hurricane Irma.