Shares of energy companies rose as a selloff in oil and natural gas reversed itself.
Oil futures held above the $80 per barrel level, as speculation about a release from the Strategic Petroleum Reserve in the U.S. subsided. Natural gas futures rose 4.7% to close above the psychologically significant $5 per million British thermal units, as geopolitical tensions between Russia and Europe about migrants sent to the Polish-Belorussian border spilled into energy markets.
Royal Dutch Shell plans to consolidate its dual British and Dutch structure and relocate its headquarters to London, a move it said would help facilitate share buybacks and make it simpler to change up its portfolio of assets. While the move will not limit the impact of a Dutch court decision forcing Shell PLC, the new name of the company, to reduce emissions, it could help it avert similar rulings in other countries, The Wall Street Journal reported.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-15-21 1626ET
