News Highlights: Top Energy News of the Day

12/07/17 04:15 PM EST
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.


(END) Dow Jones Newswires

December 07, 2017 16:15 ET (21:15 GMT)

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