Shares of energy companies gave back some recent gains but remained sharply higher on the week after reports of a high-profile assassination in Iran, and that the Organization of the Petroleum Exporting Countries was seeking to extend production caps.
OPEC and its Russia-led partners are leaning toward extending oil production cuts for another two to three months, according to officials familiar with the discussions, a move they hope will keep markets tight even as prices start to recover from Covid-19-inspired lows earlier this year.
A top Iranian nuclear scientist was killed near Tehran, according to Iranian state television, the latest blow to Iran's controversial atomic program.
Natural gas prices fell slightly after a significant run-up earlier in the week.
Major oil companies addressed sustainable-energy and climate-change issues frequently on conference calls, despite looming issues such as the Covid-19 pandemic, said strategists at brokerage Morgan Stanley, in a note to clients.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-27-20 1349ET
