Latest on Oil

Crude futures regained momentum in early Asian trade Wednesday after a strong selloff overnight, even as investors remain unsure whether the recent oil production cut deal can help restore supply and demand balance in the market.

Iran Agrees to Take Steps to Reduce Enriched Uranium

Iran agreed Tuesday to take steps that would push its stockpile of enriched uranium far below the 300-kilogram cap fixed in its 2015 nuclear agreement, potentially eliminating one flashpoint over the accord, western diplomats said.

Tillerson's Work Outside of Boardroom Hints at State Style

While lawmakers are expected to focus on Rex Tillerson's business experience, the former oil executive has a broader range of experiences that have helped him cultivate allies-both Republicans and Democrats-who could ease his way to being confirmed.

Libya Ramps Up Oil Production, Threatening OPEC Plans

Output has more than tripled in the past three months and hit a three-year high this week as militias make deals to reopen facilities. The country was exempted from cuts agreed to by major oil producers.

EU Approves French State Aid for Areva

The EU has approved a restructuring plan for French nuclear group Areva, saying a planned $4.76 billion capital injection is in line with the bloc's state-aid rules.

Oil and Gas Firms Pledge $5 Billion in Investments in Argentina This Year

Oil-and-gas companies on Tuesday pledged to invest at least $5 billion in Argentina this year and more than double that annually in coming years after unions agreed to lower labor costs, President Mauricio Macri said.

Gas Prices Take a Backseat for Auto Makers

Auto makers, betting that rising gasoline prices won't spoil America's love affair with pickups and SUVs, are increasing their exposure to a light-truck segment that let the industry down a decade ago. But executives say it's different this time.

Williams Cos. Boosts Dividend

Natural-gas pipeline company Williams Cos. and subsidiary Williams Partners LP said they planned to reset their quarterly payouts and added that the parent company would boost its ownership stake in the limited partnership.

Entergy to Close Controversial Indian Point Nuclear Plant

Entergy has agreed to shut down New York's Indian Point nuclear plant after striking a deal with state authorities, who have long targeted the facility out of concerns for its environmental impacts and proximity to New York City.

Nuclear Plants Fall Victim to Economic Pressures

Utilities are closing U.S. nuclear-power plants as they face competition from cheaper sources of electricity and political pressure from critics.

Oil Bust Seeps Into Texas Budget

Oil and gas markets are beginning to bounce back, but a protracted downturn will have a marked impact on Texas' budget over the next two years, state finance officials said Monday.

(END) Dow Jones Newswires

January 11, 2017 00:15 ET (05:15 GMT)

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