Latest on Oil

Oil prices settled slightly higher Wednesday as investors anticipated that major producers will follow through with a planned production cut to help reduce a global supply glut next year.

BP to Buy Woolworths Fuels Business

BP has agreed to buy the fuels business of Woolworths for $1.29 billion, in the latest move by the British oil company to rebuild following the deadly Deepwater Horizon disaster.

Peabody Is Accused of Coercing Creditors to Back Debt Plan

Saying they are being rushed into making a decision, a group of Peabody Energy Corp.'s junior creditors have asked a bankruptcy court to prevent the coal miner from enforcing a Wednesday deadline they claim is being used to coerce support for the company's debt restructuring plan.

Electric Cars: Still Unpopular with Buyers and Unprofitable for Sellers

Tesla and General Motors are rolling out mid-priced electric cars, and others are coming soon. But the auto industry faces big hurdles before widespread adoption.

Mexican Government to Bump Up Gasoline Prices in January

The maximum retail price of regular gasoline in Mexico will rise on average 14% as of Jan. 1, a widely expected move intended to incorporate higher oil prices and a weaker peso into the cost as Mexico moves to market-set prices for the fuel in 2017.

Gazprom Offers Commitments in Bid to Close EU Antitrust Case

Russian energy company PAO Gazprom said it had sent its proposed commitments to the European Commission in a bid to assuage the regulator's charges of market abuse.

Linn Energy Equity Holders Seek Representation

Linn Energy's equity holders, a group that stands to be wiped out in the oil-and-gas company's restructuring, has asked a bankruptcy court to appoint an official committee to represent their interests.

Toshiba Expects Hefty Write-Down

The Japanese electronics giant said cost overruns at U.S. nuclear reactors it is building were likely to force a write-down of as much as several billion dollars, clouding its turnaround plan after a 2015 accounting scandal.

Panasonic to Put $260 Million Into Plant Supplying Solar Cells to Tesla

Panasonic expects to invest more than $260 million in a Buffalo, N.Y., plant that will make photovoltaic cells and modules for Tesla Motors.

Key Metric Likely Won't Reflect Oil Rally

An important accounting metric investors use to compare oil companies is unlikely to reflect recent rally as it relies on average historic oil prices.

Oil Producers Turn to Wind Power

European oil companies are taking a closer look at offshore wind projects, as construction costs drop and investor interest in renewables grows. Many have an advantage: experience drilling in punishing conditions at sea.

(END) Dow Jones Newswires

December 28, 2016 16:15 ET (21:15 GMT)

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