S&P GSCI PETROLEUM INDEX Shares of energy companies fell as fears about global demand lingered despite China's decision to stimulate its economy.
Oil futures hovered around the $70 per barrel level after mixed economic data. In one disquieting sign, initial jobless claims rose by 17,000 to 242,000 in the week that ended Dec. 7, the U.S. Labor Department said. That's the highest level since mid-October.
The International Energy Agency lifted next year's oil-demand estimates, citing the impact of China's recent stimulus measures, but said the pace of growth is expected to remain subdued.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-12-24 1812ET
