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News Highlights: Top Energy News of the Day

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07/11/2018 | 10:16pm CEST
Oil Tumbles on Libya's Returning Supply 
 

U.S. crude had its worst day in a year, falling 5%, after Libya indicated it would resume export activities at its eastern ports, potentially easing fears of a global supply shortage.

 
Average Gas Price Nears $3 a Gallon, Raising Worries for U.S. Economy 
 

The highest retail gasoline prices in years are the latest development to raise concerns about one of the longest-running U.S. economic expansions on record.

 
U.S. Oil Inventories Drop More Than Expected 
 

Crude-oil stockpiles decreased by 12.6 million barrels to 405.2 million barrels, and are now about 4% below the five-year average for this time of year.

 
Puerto Rico Power Utility CEO Resigns After Less Than 4 Months on Job 
 

The CEO of Puerto Rico's bankrupt electric monopoly is resigning after less than four months on the job, a disruption to the utility's leadership as it struggles to rebuild a shaky power grid and tackle a $9 billion debt load.

 
Viva Energy IPO Priced at Low End of Indicative Range 
 

The initial public offering of commodity trader Vitol Group's Australian fuel supply and marketing business has been priced at the bottom end of the indicative range.

 
U.S. Natural-Gas Inventories Expected to Rise in Week 
 

Government data are likely to show that stockpiles of natural gas last week increased by 55 billion cubic feet, which would be less than the usual amount for this time of year, analysts said.

 
CME Group, Cheniere Energy to Launch LNG Contract 
 

CME Group said it is launching a liquefied-natural-gas futures contract, as industry participants continue their efforts to revolutionize this market by providing a global benchmark to help price and trade the commodity.

 
Exelon Makes Bid to Buy FirstEnergy's Retail Power Business 
 

Exelon's retail and wholesale power supplier, Constellation, wants to buy FirstEnergy Solutions's retail power business for $140 million in cash.

 
Oil's New Technology Spells End of Boom for Roughnecks 
 

One of the last industries where blue-collar laborers can earn high salaries is being transformed as artificial intelligence and automation replace workers. Even though production is back at peak levels, nationwide oil and gas employment has fallen 21% since 2014.

 
Chevron Boss, Not Exxon's, Was Highest Paid in 2017 
 

Recently retired John Watson of the oil giant Chevron Corp. topped the list of highest-paid energy bosses in the S&P 500, taking home more in 2017 than his counterpart at Exxon Mobil Corp.

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.32% 25199.29 Delayed Quote.1.62%
NASDAQ 100 -0.19% 7390.1259 Delayed Quote.15.31%
NASDAQ COMP. -0.01% 7854.4436 Delayed Quote.13.36%
S&P 500 0.22% 2815.62 Real-time Quote.4.67%
WTI 1.67% 68.9 Delayed Quote.16.97%
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