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Energy Rises On Demand Optimism -- Energy Roundup

04/12/2021 | 04:25pm EDT

Shares of energy companies ticked up as optimism about vaccine rollouts and rising demand was offset by over-supply concerns.

Continued lockdowns in Europe have diminished confidence in OPEC's plans to gradually ramp up production.

Oil futures rose 0.6% to close at $59.70-per-barrel, continuing to hover around the psychologically significant $60 level.

British oil major BP said Argos, a semi-submersible, floating production platform and the centerpiece of the company's Mad Dog 2 project, arrived in the U.S. after a 16,000-mile journey from South Korea.

French oil giant Total said it expects to start commercial oil production from its Ugandan oil fields by early 2025.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

04-12-21 1624ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 1.06% 34382.13 Delayed Quote.11.16%
LONDON BRENT OIL 2.73% 68.82 Delayed Quote.29.59%
WTI 2.59% 65.462 Delayed Quote.32.44%
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