Energy Up Slightly as Oil Futures Hold Above $100/Barrel -- Energy Roundup

Shares of energy companies ticked up as oil futures held above $100-a-barrel in New York.

Recent reports of dwindling stockpiles suggest the continued closure of the Strait of Hormuz is pushing the market toward a tipping point, said Hamad Hussain of Capital Economics, as reported earlier. If the key waterway remains closed and global oil stockpiles decline at the pace seen in April, oil stocks could reach critically low levels by the end of June, Hussain warned.

OPEC's crude production fell by 1.73 million barrels a day to 18.98 million barrels a day in April. That includes output from the United Arab Emirates who left the cartel on May 1.

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(END) Dow Jones Newswires

05-13-26 1737ET