Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

Energy Shares Fall Even as Oil Prices Finish Higher -- Energy Roundup

06/09/2020 | 03:14pm EST

Shares of energy companies sank even as oil futures gave up early losses to finish higher.

Expectations that major Gulf producers won't extend voluntary output cuts beyond this month, as well as the potential for a climb in U.S. output, had pressured prices.

In a report Tuesday, however, the Energy Information Administration raised its 2020 forecasts for U.S. and Brent crude prices and lowered its forecast for U.S. oil production this year. The EIA will release its weekly data on U.S. petroleum supplies Wednesday. Analysts polled by S&P Global Platts expect the data to show a decline of 3.2 million barrels in crude supplies.

The Trump administration, expanding an effort to choke off oil and fuel trade between Iran and Venezuela, is readying new sanctions against dozens of tankers while pressuring companies associated with those vessels, The Wall Street Journal reported citing people familiar with the plans.

 Write to Amy Pessetto at amy.pessetto@dowjones.com 

Latest news "Economy"
11:54aBp says "progress" made with unions at rotterdam, remaining refi…
RE
11:51aHoldout Poland approves EU's $60 Russian oil price cap, with adjustment mechanism
RE
11:49aItaly regulated gas prices up 13.7% month-on-month in November
RE
11:46aLME says HSBC Bank resigns as category 2 member
RE
11:40aPoland formally approves g7 oil price cap deal of $60 per barrel…
RE
11:40aEu can now move forward with written procedure of approval by al…
RE
11:34aIrish corporate tax boom breaks more records in November
RE
11:33aTop Iran Sunni cleric says protesters should not face death sentences
RE
11:30aGerman gas importer VNG withdraws request for state stabilisation measures
RE
11:22aIndia to continue buying Russian oil, ministry source says
RE
Latest news "Economy"