News Highlights : Top Energy News of the Day
Oil Edges Up After Stockpiles-Driven Fall
Oil prices rose Thursday from a three-week low, helped by a reduction in U.S. crude stockpiles.
Natural Gas Falls as Stockpiles Build
Natural gas prices settled more than 5% lower Thursday, as government data showed an unexpected increase in stockpiles.
GE Cuts 18% of Jobs in Power Unit After Misjudging Demand
GE said it was cutting 12,000 jobs in its power business, or nearly 20% of the unit's workforce, as the conglomerate slashes costs and battles overcapacity in its core business.
GE Brings Bad Things to Light
There still is little to celebrate at General Electric, but new management is passing early tests in its bid to clean up the mess
Wall Street Tells Frackers to Stop Counting Barrels, Start Making Profits
The shale-oil revolution boosted production and made America the world's oil-and-gas champion. Now, shareholders are insisting producers stop counting barrels and start chasing higher returns.
Ford to Move Electric Car Production to Mexico
Ford plans to produce a future electric car in Mexico, reversing plans announced in January to make its Flat Rock, Mich., assembly plant its main electric-vehicle production site.
Westinghouse Creditors Criticize Marketing Process
Major creditors of Westinghouse Electric Co. say they are concerned that their interests are taking a back seat to corporate parent Toshiba Corp., as company advisers solicit bids for the business.
Move Over, Cushing: Houston Emerges as Oil Trading Hub
Houston has long been the capital of the U.S. energy industry. Now it is vying to be the center of global oil trading, as analysts say the Houston price better reflects market dynamics for U.S. crude than Cushing, Oklahoma.
U.S. Oil Inventories Fall as Refinery Activity Surges
U.S. inventories of crude oil fell by 5.6 million barrels to 448.1 million barrels, as refinery capacity utilization increased sharply, according to data released by the Energy Information Administration. Gasoline stockpiles climbed 6.8 million barrels to 220.9 million barrels.
Duke Energy Says Some Customers May Be Affected by Data Breach
Duke Energy Corp. said Tuesday some of its customers may have been affected by a data breach revealed by PayPal Holdings Inc. last week.