ENERGY

Oil Firms to Settle Antitrust Suits: Atlantic Richfield, Unocal and Texaco said they agreed to pay a total of $62.5 million to settle antitrust suits that date back to the Arab oil embargo nearly 20 years ago. Arco will pay $25 million, Unocal $19.5 million and Texaco $18 million to settle the suit. The companies admitted no wrongdoing in the settlements. The suit filed by California, Washington, Arizona and Oregon alleged that the shortage of gasoline and other oil products in 1972 and 1973 resulted from a conspiracy by the nation’s largest oil companies. Others named in the suit included Chevron, Exxon, Mobil and Shell. Exxon agreed to settle the suit earlier this year. The other companies could go to trial this fall if they do not settle.