Oil Prices Rise on OPEC Deal Hopes

Oil futures rose on Wednesday in volatile trade, as investors anticipate a deal to curb production from OPEC.

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.

Petroleos de Venezuela Bonds Tumble on Payment Delay

Petróleos de Venezuela SA bondprices tumbled Tuesday after the cash-strapped national oil company missed coupon payments on its bonds.

VW Outlines Plans to Boost Profit, Push Into Electric Cars

Volkswagen's brand chief said the company, which is coming off a bruising year, expects to boost revenue from in-car digital services and aims to sell one million electric vehicles annually by 2025.

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.

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.

(END) Dow Jones Newswires

November 23, 2016 07:10 ET (12:10 GMT)

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