OIL PRICES DOWN ON UNCERTAINTY AHEAD OF OPEC MEETING
Oil prices settled lower on Tuesday, reversing earlier gains as the market continued to be fueled by headlines regarding the forthcoming meeting of OPEC members due to take place Nov. 30.
IRAN AND IRAQ STUMBLING BLOCKS TO OPEC PRODUCTION CUT
Iran and Iraq have emerged as major stumbling blocks as OPEC officials tried to make progress on the broad outlines of a production cut that would thrust the cartel back into the position of directly trying to influence petroleum prices.
ULTRA PETROLEUM LINES UP SUPPORT FOR RESTRUCTURING
Houston's Ultra Petroleum Corp., which drills for natural gas in Wyoming, has reached a deal with key creditors and shareholders designed to help it exit bankruptcy protection with less debt.
DOW TOPS 19000 FOR FIRST TIME
The Dow Jones Industrial Average breached 19000 for the first time, a day after multiple U.S. stock indexes hit records.
CANADA RETAIL SALES RISE 0.6% IN SEPTEMBER
Retail sales in Canada climbed in September on strong demand for new cars. Excluding the auto sector, sales were flat in the month.
U.S. EXISTING-HOME SALES HIGHEST SINCE FEBRUARY 2007
Homebuying activity rose in October for the second straight month to a new cyclical high despite rising prices and shrinking inventory, a sign housing demand remains buoyant as the year comes to a close.
VENEZUELA'S PDVSA MISSES $404 MILLION PAYMENTS ON BONDS
Petró leos de Venezuela SA missed $404 million in coupon payments on three of its bonds, highlighting the continued struggles of the Venezuelan state oil company.
SUNOCO LOGISTICS TO BUY ENERGY TRANSFER
Sunoco Logistics will buy Energy Transfer Partners in a $21 billion all-stock deal that will simplify a network of pipeline firms controlled by billionaire Kelcy Warren.
ELLIOTT MANAGEMENT ASKS MARATHON PETROLEUM TO CONSIDER BREAKING UP
The hedge fund sent a letter to Marathon Petroleum's board saying breaking up the firm may be needed to unlock value.
PLATINUM PARTNERS FUND OBTAINS LITIGATION SHIELD
Platinum Partners' flagship hedge fund secured a legal shield that puts on-hold litigation accusing the troubled fund of looting Texas oil and gas company Black Elk Energy Offshore.
======== DOW JONES NEWSWIRES ANALYSIS AND COMMENTARY ========
U.S. CRUDE-OIL STOCKPILES EXPECTED TO RISE
Government data are expected to show that U.S. crude-oil inventories increased by 800,000 barrels in the latest week, while gasoline stockpiles are projected to rise by 900,000 barrels.
ANALYSTS SEE ADDITION TO U.S. NATURAL-GAS INVENTORIES
The U.S. Energy Information Administration is expected to report storage levels grew by 4 billion cubic feet of gas during the week ended Nov. 18, according to the average forecast of 16 analysts and brokers surveyed by The Wall Street Journal.
(END) Dow Jones Newswires
November 22, 2016 16:14 ET (21:14 GMT)
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