Energy Down on Oversupply, Rate Concerns -- Energy Roundup

Shares of energy companies fell as traders fled the sector because of supply and interest-rate concerns.

U.S. commercial inventories of crude oil rose more than expected last week and domestic oil production surged to its highest level in 34 months, according to data from the Energy Information Administration.

New York Federal Reserve President John Williams warned the battle to bring inflation down could take years of restrictive monetary policy, a sentiment that was echoed by Fed Governor Christopher Waller.

Natural gas futures fell to their lowest level since late 2020, as warmer weather prevailed in much of the U.S.

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(END) Dow Jones Newswires

02-08-23 1727ET