News Highlights: Top Energy News of the Day

Oil Breaks Fresh Highs as Equity Markets Push Higher

Oil prices were higher in European trade, with DNB Markets' Helge Andre Martinsen citing positive equity markets and a relative lack of oil-specific news.

Oil Hits Pandemic High as Investors Bet on Green Energy

Wall Street's preference for renewable energy could mean oil producers will now struggle to meet demand, leading to shortages, some predict.

How Japan's Big Bet on Hydrogen Could Revolutionize the Energy Market

The country sees a shift toward hydrogen fuel as a vital piece of its plan to eliminate carbon emissions. If it succeeds, that could lay the groundwork for a new global supply chain.

Shell mulling sale of holdings in largest U.S. oil field: reports

Royal Dutch Shell Plc is reportedly reviewing its holdings in the largest oil field in the U.S., according to reports Sunday.

G-7 Leaders Set to Announce Climate Plan

The Group of Seven will discuss phasing out gasoline cars and subsidies for overseas fossil fuels on Sunday.

Puerto Rico's Power Distributor Hit by Cyberattack Hours Before Fire

Luma Energy said a distributed denial-of-service attack targeted its customer portal, as well as its mobile app, shutting out customers trying to access their accounts or report outages.

U.S. Oil-Rig Count Rises by 6 in Latest Week, Baker Hughes

The number of rigs drilling for oil in the U.S. rose by six in the latest week to 365, according to oil-field services company Baker Hughes.

Saudi Aramco Borrows Again to Fund Dividend Pledge

The return to the global debt markets demonstrated the oil giant's need to raise cash despite high energy prices, as it issued its inaugural dollar-denominated Islamic bond to meet a dividend pledge and complete a costly acquisition.

Slow Vaccinations in Developing World Set to Drag on Oil Demand

The world's appetite for oil will return to its pre-pandemic highs by the end of next year but low vaccination rates in emerging economies are pushing the pandemic's end date further away, the IEA said.

Bankrupt California Power Authority Winding Down Service Over Cash Crunch

California power authority Western Community Energy said Friday it is winding down operations weeks after filing for bankruptcy because it doesn't have the money to purchase power for customers during the hot summer months.

  (END) Dow Jones Newswires
  06-14-21 0715ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

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