Shares of energy companies fell sharply as traders fled risky sectors in the wake of a major bank failure and a mixed jobs report.
Silicon Valley Bank collapsed in the second-biggest bank failure in U.S. history as its wealthy tech-sector clients pulled deposits en masse, forcing it to scrap plans to raise capital.
Oil futures ticked up but lost ground for the week amid doubts about the outlook for global demand.
Tanzania is in advanced talks with Norwegian oil giant Equinor and British major Shell about a $30 billion liquefied natural gas project, according to analysts at Oxford Africa Economics.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-10-23 1709ET
