Latest on Oil

Crude prices edged higher on the heels of a sharp selloff, even as investors remained unsure whether the deal by major oil producers to curtail output would help restore balance in the market.

Electric Plant Operator Homer City Files for Bankruptcy

Homer City Generation, which has three coal-fired electric plants, filed for chapter 11 bankruptcy protection Wednesday to implement a restructuring that will erase $600 million in secured debt from its balance sheet.

Tillerson Tells Senators that Russia Poses a Danger

President-elect Donald Trump's pick for secretary of state, Rex Tillerson, faced senators for a confirmation hearing Wednesday, where he told lawmakers that Russia poses a danger.

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.

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.

FBI Arrests Volkswagen Executive in Emissions-Cheating Scandal

VW executive Oliver Schmidt is suspected of participating in a conspiracy to defraud the U.S. in connection with the company's emissions-cheating scandal.

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 nuclearplant 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.

(END) Dow Jones Newswires

January 11, 2017 11:15 ET (16:15 GMT)

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