Latest on Oil

Oil prices settled lower Thursday after data showing an unexpected rise in U.S. crude stockpiles and declines in refined-fuel stockpiles sent mixed signals about the oil market.

End of an Era as Nymex Trading Pits Shut Down

The open-outcry trading floor of the New York Mercantile Exchange in lower Manhattan will shut down after markets close Friday, the latest step in the inexorable shift toward electronic trading.

Energy Giants Seek Chinese Minnows in Bid to Shift Gas

Recent deals reflect a fundamental change in China's energy sector: The government's goal of boosting competition to facilitate a shift from coal to cleaner fuels has opened a window for private players.

Petrobras Falls Short of Asset-Sales Target

Brazilian oil company Petróleo Brasileiro SA, or Petrobras, completed a flurry of asset sales at year-end, but still fell short of its $15.1 billion divestment target for the 2015-2016 period.

U.S. Oil Inventories Rise, Fuel Supplies Fall

U.S. crude oil unexpectedly rose for the week ended Dec. 23, while gasoline supplies surprisingly fell, according to data released Thursday by the Energy Information Administration.

Toshiba Stumbles as Nuclear Bet Proves Costly

Toshiba's shares plunge as its bet on a nuclear-power revival with its purchase of Westinghouse weighs heavily on the Japanese conglomerate amid cost overruns and missed deadlines.

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.

(END) Dow Jones Newswires

December 29, 2016 16:15 ET (21:15 GMT)

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