Energy Flat As Traders Hedge On Oil Demand View -- Energy Roundup

Shares of energy companies were flat amid economic optimism and geopolitical tensions.

Oil futures rose for the third straight session, as tensions between Russia and the U.S. remained high.

Crude oil in storage volumes at Cushing, Okla., has recovered from recent three-year lows, in a positive sign for supply-demand balance in the U.S.

ConocoPhillips agreed to sell its Indonesian production assets, and, separately, to buy an additional 10% of an Australian liquefied natural-gas business from partner Origin Energy.

Natural gas futures rose, but remained well shy of the psychologically significant $4 a million British thermal units level, down roughly 40% from its recent peak. Earlier, European natural gas futures rallied on speculation that the Nord Stream 2 gas pipeline could be shut if Russia invaded the Ukraine.

 Write to Rob Curran at [e-mail] 

(END) Dow Jones Newswires

12-08-21 1643ET