Latest on Oil

Oil prices climbed after data showed that refiners processed a record amount of crude and that supplies drained from the main storage hub in Cushing, Oklahoma.

U.S. Oil and Fuel Inventories Rise Sharply

U.S. crude oil inventories rose much more than expected for the week ended Jan. 6, as did stockpiles of gasoline and other processed fuels, according to data released Wednesday by the Energy Information Administration.

U.S. Indicts Six VW Executives in Emissions Scandal

Six Volkswagen current and former executives were indicted by a grand jury on Wednesday as the German auto maker formally admitted to criminal wrongdoing in its diesel-emissions cheating case.

Electric Plant Operator Homer City Files for Bankruptcy

Homer City Generation, which has threecoal-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 Declines to Pledge Trump Administration Would Renew Russia Sanctions

President-elect Donald Trump's Secretary of State pick Rex Tillerson, under sharp questioning by senators, refused to pledge that the incoming administration would renew sanctions recently imposed against Russia.

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

(END) Dow Jones Newswires

January 11, 2017 16:15 ET (21:15 GMT)

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