Oil Sinks Amid Doubts About Tariff Rollback
Oil futures fell sharply, with U.S. and global benchmark crude headed for their lowest finish in about a week, as skepticism around a rollback of tariffs in China-U.S. trade talks eroded bullish sentiment on crude prices.
PG&E Plan to Pay Insurance Claims in Cash Hurts Bankruptcy Talks
An $11 billion settlement of insurance claims tied to PG&E Corp.'s alleged responsibility for California wildfires is emerging as an impediment to a potentially broader deal to end the utility's bankruptcy, according to people familiar with the matter.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
New York Attorney General Drops Part of Exxon Case
The New York attorney general's office Thursday dropped part of its securities-fraud case against Exxon Mobil on the final day of a rare climate-change-related trial that has pushed the oil giant's accounting practices into public view.
Brazil Oil Auction Ends in Disappointment
Brazil's second oil auction in two days ended in disappointment, just like the first, with no U.S. or European major oil companies even bidding and only one of the five blocks on offer being sold.
Bankrupt Sheridan Gets $328 Million Offer for Oil and Gas Assets
After initially planning to hand itself over to creditors, bankrupt oil-and-gas producer Sheridan Holding Company II LLC now wants to sell most of its assets to private investors for $328 million.
PG&E Reports $1.6 Billion Loss as Fires, Blackouts Raise Costs
PG&E Corp. reported a $1.6 billion third-quarter loss as the costs of wildfires, bankruptcy and blackouts weighed on the beleaguered California utility.
Natural Gas Falls Despite Low Rise in Storage
Natural gas prices fall for a second straight session despite a bullish weekly storage report, as some investors consider gas prices' 20% rally higher over the past month overdone since production of the commodity continues to bearishly hit near-record highs.
Iran Calls Red Sea Oil-Shipping Routes Unsafe
Iran has issued a warning to international shipping authorities that commercial routes in the Red Sea are unsafe, saying three of its tankers have been attacked off Saudi Arabia's coast in the past six months.
Senators Push Bipartisan Fix to Coal Miners' Pensions
A dozen U.S. Senators, including Majority Leader Mitch McConnell, are backing legislation to shore up a pension plan covering 92,000 retired coal miners that has been depleted during a brutal downturn in the coal industry.