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TOP STORIES
U.S. CRUDE OIL INVENTORIES AT RECORD HIGH
EIA data show U.S. crude stockpiles rose by 3.5 million barrels to 397.7 million barrels in week ended April 18, more than an average survey estimate of a 2.4 million-barrel increase. Gasoline stockpiles fell less than expected.
OIL PRICES END DOWN AS SUPPLIES SURGE
Oil futures settled lower after government data showed U.S. oil inventories were at their highest level in 83 years. Nymex June crude ended down 0.3% at $101.44 a barrel. Brent crude also fell.
CANADA TOUGHENS RULES FOR RAIL SHIPMENTS
Canada moved to toughen measures for the rail shipment of dangerous goods, including ordering the immediate phaseout of the least crash-resistant tank cars and setting a three-year timeline for shippers to phase out or retrofit substandard tank cars.
PERU TAKES HARDER LINE ON ILLEGAL GOLD MINING
Peru's government said it would crack down harder on unlicensed gold miners, who have devastated vast areas of the Amazon jungle and polluted rivers with mercury used to extract the precious metal.
CHINA'S CNOOC SELLS MULTIBILLION-DOLLAR BONDS
Investors are lining up for Cnooc's sale of dollar-denominated bonds, placing more than $20 billion in orders for a deal expected to be around $4 billion in size, according to investors following the sale.
GOOGLE, SUNPOWER FUND RESIDENTIAL SOLAR PROJECTS
Google continued to pour money into renewable technologies, unveiling a new program with solar-panel maker SunPower to provide financing to support about $250 million in residential solar-lease projects.
GE NAMES EX-CHAIRMAN OF VANGUARD BRENNAN AS LEAD BOARD DIRECTOR
General Electric named John J. Brennan, a former chairman of mutual fund Vanguard Group, as lead independent director on the company's board, a signal the company is carefully considering investor interests.
HESS SELLS THAI ASSETS FOR $1 BILLION
Hess Corp. is selling its Thai assets for around $1 billion to Thailand's PTT Exploration & Production PCL. The sale is the latest of a string of deals by U.S. companies as they switch focus back to North America.
CHINA RESOURCES NAMES A NEW CHAIRMAN
China Resources said that it named Fu Yuning chairman, replacing Song Lin, who has been stripped of his post and is under investigation.
COMMODITIES TRADER MERCURIA REPORTS 14% REVENUE INCREASE IN 2013
Mercuria Energy Group, the independent trading house that last month agreed to buy J.P. Morgan's physical commodities business, saw a 14% increase in revenue last year, the company disclosed on its website.
CAPTAIN, CREW SUSPECTED IN TANKER ROBBERY IN MALACCA STRAIT
Pirates stopped a Singapore-owned tanker in the Malacca Strait and stole several million liters of diesel fuel, Malaysian marine police said.
SHARES IN U.K. POWER GENERATOR DRAX SLUMP
Shares in U.K. power generator Drax slumped after one of its planned biomass units was excluded from a list of renewable energy projects eligible for a new system of government subsidies.
======== DOW JONES NEWSWIRES ANALYSIS AND COMMENTARY ========
DJ Newswires Survey
ANALYSTS SEE 41 BCF ADDITION TO U.S. NATURAL GAS INVENTORIES
Analysts and traders expect government data scheduled for release Thursday to show natural gas inventories grew last week by 6 billion cubic feet fewer than they usually would this time of year.
The Wall Street Journal
NEW COAL DUST REGULATIONS DRAW CRITICISM FROM MINING GROUPS
For the first time in decades, the Labor Department issued a series of new regulations aimed at eliminating black lung disease among miners, drawing criticism from industry groups that said the changes were too broad an approach.
(END) Dow Jones Newswires
April 23, 2014 18:00 ET (22:00 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.
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