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News Highlights: Top Energy News of the Day

11/24/2020 | 07:16am EST
Oil Ticks Up as Traders Eye OPEC, Vaccines 

Oil added to its gains in Europe and with OPEC expected to extend production cuts next week and some major Western countries set to begin vaccinating citizens in December and January, oil markets have found some solidity in recent weeks.

Sasol Divests Texas-Based Gemini 

Sasol has agreed to sell its 50% stake in Texas-based polyethylene business Gemini for $404 million, in its latest move to focus on specialty chemicals and reduce debt.

CFTC Report on Negative Oil Prices Leaves Key Questions Unanswered 

A long-awaited Commodity Futures Trading Commission report into the collapse of crude-oil futures to minus $40 a barrel in April has declined to identify a reason for the crash, prompting criticism from one of the agency's own commissioners.

GM Stops Backing White House in Emissions Fight With California 

General Motors will no longer back the administration in its legal battle to strip California's authority to set its own fuel-efficiency regulations, saying GM's goals for green cars are aligned with the state and the new Biden administration.

Asia's Hydrogen Fuel Future May Be Coalescing 

There is still a long way to go for hydrogen to justify the hype as the next big thing in transportation. But Asia may hold the key to any eventual success.

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.

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.

(END) Dow Jones Newswires

11-24-20 0715ET

Stocks mentioned in the article
ChangeLast1st jan.
BAKER HUGHES COMPANY 0.00% 22.87 Delayed Quote.9.69%
GENERAL MOTORS COMPANY 9.75% 54.84 Delayed Quote.31.70%
LONDON BRENT OIL 0.86% 56.42 Delayed Quote.6.15%
SASOL LIMITED 2.34% 172.01 End-of-day quote.28.43%
SAUDI ARABIAN OIL COMPANY -0.14% 34.9 End-of-day quote.-0.29%
WTI 0.95% 53.649 Delayed Quote.8.19%
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