Latest on Oil

Crude futures rose higher in Asia thanks to better-than-expected gasoline demand in the U.S., but strong growth in crude inventories will likely keep gains limited.

Suncor Profit Buoyed By Rising Commodities and Record Production

Suncor Energy reported a quarterly profit of 531 million Canadian dollars ($403 million) as Canada's largest crude-oil producer continued to benefit from rising commodity prices while achieving a production record during the period.

AlixPartners Quits as Adviser to Puerto Rico Utility

AlixPartners LLP terminated its role as restructuring adviser to Puerto Rico's public electricity utility known as Prepa, potentially adding to the island's struggles to fix its finances and right its economy.

Italian Prosecutors Request Eni CEO, Shell Stand Trial

Italian prosecutors are pursuing a criminal trial for Royal Dutch Shell and the chief executive of Italian oil company Eni on charges of corruption tied to a controversial Nigerian deal, according to a person familiar with the matter.

Trump May Tap Two Veteran Lobbyists for Energy Issues

President Donald Trump is likely to tap two veteran lobbyists to advise on energy and environmental issues in the White House, according to multiple people close to the new administration, filling key roles with longtime Washington experts.

U.S. Oil Inventories Explode Higher

U.S. crude oil inventories rose much higher than expected, jumping by 13.8 million barrels to 508.6 million barrels, which is above the upper limit of the average range for this time of year, The EIA said. Gasoline stockpiles decreased by 869,000 barrels to 256.2 million barrels.

Exelon Profit Falls 34%

Exelon's profit slid 34% in the final quarter of the year amid lower capacity and energy prices.

Trump Administration Gives Final Approval for Dakota Access Pipeline

The Trump administration has given a final green light to the Dakota Access Pipeline, fulfilling a campaign pledge to boost energy projects but likely infuriating activists fighting the project.

Moelis Beats Out Rivals for Adviser Role In Saudi Aramco IPO

Boutique investment bank Moelis & Co. won a coveted spot advising oil colossus Saudi Aramco on its planned initial public offering.

BP Needs Oil to Rise to $60 to Break Even

BP said it needed oil prices to rise to $60 a barrel in order to break even, as the British oil giant ramped up debt levels last year to fund spending, maintain its dividend and cope with costs associated with the 2010 Deepwater Horizon disaster.

Volkswagen Forms U.S. Unit for Zero-Emission Vehicles

Volkswagen launched Electrify America, designed to oversee $2 billion in investments to promote zero-emission vehicles such as electric cars, a commitment the auto giant made in the wake of cheating on U.S. emissions tests for several years.

(END) Dow Jones Newswires

February 09, 2017 00:15 ET (05:15 GMT)

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