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News Highlights : Top Energy News of the Day

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05/16/2019 | 04:15 am

California Governor Pushes to Limit PG&E's Bankruptcy Extension

Gov. Gavin Newsom is asking a bankruptcy judge to cap the amount of time PG&E is allotted to steer a course out of bankruptcy without worrying about rival restructuring proposals.

PG&E Caused Fire That Killed 85, California Concludes

State investigators said they found that PG&E's equipment sparked the deadliest wildfire in California history, putting additional pressure on a company already facing billions of dollars in potential liability costs.

Oil Gains on Geopolitics, Rising U.S. Equities

Oil prices rose as geopolitical tensions and rising stock prices on Wall Street offset bearish data showing U.S. oil inventories are at a 20-month high.

U.S. Natural-Gas Inventories Seen Up in Week

Government data are likely to show that natural-gas inventories increased by 107 billion cubic feet last week, an amount similar to the same time last year amid typically low springtime demand.

U.S. Oil Inventories Unexpectedly Surge Higher

U.S. inventories of crude oil unexpectedly increased last week, but gasoline stockpiles declined, according to data Wednesday by the Energy Information Administration.

U.S. Embassy in Iraq Orders Staff to Leave as Iran Tensions Rise

The Trump administration ordered a partial withdrawal of its diplomats from Iraq on Wednesday, as Washington warned of heightened threats from Iran and Tehran-backed Shiite militias.

IEA Cuts Oil Demand Forecast as Supply Tightens

Global oil supply dropped in April as falling production from sanction-hit Iran and dwindling supply in non-OPEC nations buoyed crude prices to a five-month high.

In U.S.-Iran Standoff, Gulf States Steer Clear of Confrontation

Saudi Arabia and its Persian Gulf allies haven't called for a confrontation with Iran over recent attacks in the region that the U.S. has blamed on Tehran, a tact that reflects their limited appetite for another conflict in the war-racked region.

MGE Aims for Net-Zero Carbon Electricity by 2050

MGE Energy's Madison Gas and Electric said it set a goal of net-zero carbon electricity for its customers by 2050.

Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires throughout the day.

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