OIL DROPS ON RECORD INVENTORY BUILD
Oil prices dropped, settling sharply lower after weekly inventory data showed a large increase in crude-oil stockpiles
TRANSOCEAN REPORTS SHARPLY LOWER QUARTERLY PROFIT, REVENUE
Oil driller Transocean's quarterly profit dropped sharply again as revenue was nearly halved amid an oil rut that has devastated the sector.
U.S. CRUDE OIL STOCKPILES RISE SHARPLY
U.S. crude oil stockpiles increased by 14.4 million barrels in the week ended Oct 28, much more than expected, while fuel supplies declined, according to data released Wednesday by the Energy Information Administration.
FED SENDS NEW SIGNALS ABOUT A POSSIBLE DECEMBER RATE INCREASE
The Federal Reserve held short-term interest rates steady Wednesday and sent new hints it expects to raise rates in December at its final scheduled meeting of 2016.
GASOLINE FUTURES PULL BACK AS COLONIAL PIPELINE REMAINS SHUT
Gasoline futures pulled back Wednesday as the Colonial Pipeline, the main fuel artery to the East Coast, remained closed.
MAERSK'S PROFIT TUMBLES ON WEAK FREIGHT RATES, LOW OIL PRICES
Danish shipping-and-oil company A.P. Moeller-Maersk said third-quarter profit plunged 43% as sustained weak freight rates and low oil prices continued to batter its performance.
SEMPRA ENERGY PROFIT SOARS, BUT REVENUE MISSES EXPECTATIONS
Sempra Energy said its third-quarter earnings soared thanks to gains related to a pipeline joint-venture deal in its Mexico subsidiary but the energy company's revenue missed expectations.
JUDGE SETS AUCTION DATE FOR MURPHY ENERGY
Lawyers who put oil and natural gas transporter Murphy Energy Corp. into bankruptcy protection are preparing to sell the company's operations at a Dec. 12 auction after a judge approve the Tulsa, Okla.-based company's sale timeline.
SPECTRA ENERGY PROFIT CLIMBS WHILE SALES SLIP
Spectra Energy Corp., as it prepares to merge with Canadian pipeline operator Enbridge Inc., posted an increase in income during the latest quarter, helped in part by its field-services segment, which swung to a profit.
S&P 500 NOTCHES LONGEST LOSING STREAK IN NEARLY 5 YEARS
U.S. stocks fell as the S&P 500 logged its longest string of declines in almost five years. A tightening U.S. presidential race and falling oil prices have pressured U.S. indexes in recent sessions.
EX-BLACKROCK FUND MANAGER PLEADS GUILTY TO INSIDER TRADING
Mark Lyttleton, a former equities fund manager, pleaded guilty to two counts of insider trading, admitting using information from his job to make personal trades.
ALL 33 PEOPLE TRAPPED AFTER CHINA COAL MINE BLAST FOUND DEAD
All 33 coal miners trapped underground in a gas explosion earlier this week have been found dead, state media reported Wednesday, as work-safety officials vowed to punish those responsible.
======== DOW JONES NEWSWIRES ANALYSIS AND COMMENTARY ========
PIPELINE OUTAGE NOT BAILING OUT REFINERS
After weeks of higher oil prices, analysts are anticipating tighter margins at a time of year when revenues are already shrinking.
ANALYSTS SEE 54-BCF ADDITION TO U.S. NATURAL-GAS INVENTORIES
Analysts expect government data scheduled for release Thursday to show a weekly surplus slightly below average for this time of year.
(END) Dow Jones Newswires
November 02, 2016 18:14 ET (22:14 GMT)
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