News Highlights : Top Company News Of The Day

Oil's Rally, Coupled With Strong Dollar, Causes Global Pain 

The sharp rise in crude-oil prices has been particularly harsh for many parts of the world, because consumers outside the U.S. face a double whammy when the dollar gets stronger at the same time that oil prices climb.

OPEC Meeting, Tariff Concerns Weigh on Oil Prices 

Oil prices fell as traders braced for higher crude production and disruption to global trade.

U.S. Oil-Rig Count Rises by One in Latest Week 

The number of rigs actively drilling for oil in the U.S. rose by one in the past week to 863, according to oil-field services provider Baker Hughes, a GE Company.

Chevron Begins LNG Production at Second Wheatstone Processing Line 

Chevron Corp. has begun production at the second of two processing units at its Wheatstone project on Australia's northwestern coast, cementing its position as one of the biggest suppliers of supercooled natural gas to Asia.

Trade Fears Threaten Best Year in Commodities Since 2002 

Commodity markets, reveling in their best year since 2002, tumbled Friday as new tariffs announced by the U.S. and China reignited fears of a trade war.

Attacks on Libya Ports Shut Nearly Quarter of Libyan Crude Output 

Recent attacks on two eastern Libyan ports have shut down a quarter of the country's output.

Saudis, Russia to Talk Oil Output Boost Ahead of OPEC Summit 

Saudi Arabia's oil minister is flying to Russia this week to discuss ways to manage an output boost both producers say they want to propose at an OPEC summit.

U.S. Crude Oil and Fuel Inventories Decline 

U.S. inventories of crude oil declined by 4.1 million barrels, far more than the 1.6 million barrels estimated, for the week ended June 8, according to government data.

Side Effect of Rising Oil Drilling: Indigestion for Gas Frackers 

Companies are responding to rising prices by drilling for more oil, but the natural gas byproduct they often unearth is further weighing on already low gas prices and on shale frackers in regions that primarily produce gas.

Oil Companies Seek to Dismiss New York City's Climate-Change Lawsuit 

Lawyers for major oil companies asked a federal judge Wednesday to dismiss a lawsuit filed by New York City, arguing they shouldn't be held responsible for damages the city says are caused by climate change.

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