Energy Slips With Oil Amid Increased Omicron Concerns -- Energy Roundup

Shares of energy companies fell alongside oil futures, as concerns increased about the implications of the Omicron variant for global growth.

Oil futures fell 0.9% to close at $65.57 a barrel, the lowest level since August 20. Oil futures had risen by more than 3% before a report showing that U.S. production rose to an 18-month-high last week.

Later in the session, the Centers for Disease Control said the first known U.S. case of infection with the Omicron variant of Covid 19 was identified in California.

Oil giant Exxon Mobil said it will maintain a conservative budget for the next five years, as the outlook for oil and gas demand remains murky while coronavirus-led economic risks persist and some countries attempt to wean themselves off fossil fuels.

Natural gas futures fell for the third straight session, closing at three-month lows amid persistently mild winter weather in much of the U.S.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

12-01-21 1628ET