Energy Down On Demand Fears, As Oil Ticks Up On Hurricane Effects -- Energy Roundup

Shares of energy companies fell amid skepticism about the outlook for global demand.

Oil futures ticked up as Hurricane Sally bore down on the U.S. Gulf Coast, a hub of the energy industry. The hurricane looked set to make landfall as a Category 2. Some 27% of total offshore oil production in the Gulf of Mexico has been halted due to the storm, according to the Bureau of Safety and Environmental Enforcement.

U.S. crude futures rose 2.7% to $38.28 a barrel.

President Donald Trump presided over the signing of a Middle East peace agreement between Israel and two Gulf nations Tuesday, calling it the foundation for a broader alignment against Iran that would fundamentally change the geopolitical dynamic in the region.

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