Shares of energy companies gained even as U.S. benchmark oil prices finished a quiet, rangebound session a fraction lower.
Russian oil has stopped flowing through a pipeline that feeds countries in Central and Eastern Europe, dealing another blow to a region contending with the loss of vital energy supplies from Russia.
The nation suspended crude flows through the Druzhba pipeline toward Hungary, the Czech Republic and Slovakia on Tuesday after sanctions prevented payment of a transit fee, Bloomberg reported Tuesday. Druzhba is the world's longest pipeline network.
In corporate news, shares of Occidental Petroleum rallied as Warren Buffett's Berkshire Hathaway took its stake in the company past the 20% mark.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
08-09-22 1702ET
