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News Highlights : Top Energy News of the Day

11/20/2020 | 04:16pm
Oil prices on track for a third straight weekly gain as vaccine hopes outweigh rising COVID cases 

Oil futures edge higher on Friday, with prices poised to score a third weekly gain in a row, fueled by optimism over COVID-19 vaccines even as the number of new cases continues to rise, posing a renewed threat to demand.

U.S. Oil-Rig Count Drops by 5 in Latest Week, Baker Hughes Says 

The number of rigs drilling for oil in the U.S. declined by five in the latest week to 231, according to oil-field services firm Baker Hughes.

East-West Divide in Oil Prices Draws Crude to Asia 

Prices for Middle Eastern oils have climbed to an unusual premium over the global benchmark Brent, stoked by demand from Asian refiners.

Energy & Utilities Roundup: Market Talk 

The latest Market Talks covering Energy and Utilities

Oil Giant Aramco's Strong Stock Is a Mirage 

The best-performing big oil stock this year is one roundly rejected by global investors: Saudi Aramco. Most of the credit belongs with its shareholders rather than its management.

GM Ups Bet on EVs as Investors Swoon for Electric Cars 

The auto maker is raising its bet on electric cars by more than a third, as it hustles to convince a skeptical Wall Street that it too can be successful in the nascent market.

U.S. Crude-Oil Inventories Increase Less Than Expected 

U.S. inventories of crude oil rose slightly less than expected as refinery activity sped up, according to weekly data released Wednesday by the Energy Information Administration.

PG&E Taps Michigan Utility Leader as Next CEO 

Patti Poppe, who has led an ambitious effort to retire coal-fired power plants at CMS Energy, will take the helm at a challenging time for PG&E.

Aramco Raises $8 Billion Bond to Fund Dividend Pledge 

The financial position of the world's largest oil producer has darkened as it contends with a fall in crude prices caused by the coronavirus pandemic.

Trump Administration Nears Auctioning of Drilling Rights in Arctic Refuge 

The Interior Department is taking final steps to secure oil development in the pristine, 19-million-acre Alaskan wilderness by initiating a leasing process to strike deals with drillers before President-elect Joe Biden can stop it.

(END) Dow Jones Newswires

11-20-20 1615ET

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