Energy Down as Oil Futures Hit Three-Week Low -- Energy Roundup

03/08/18 04:28 PM EST

Shares of oil and gas companies fell alongside oil futures, which closed at three-week lows around the psychologically significant $60-a-barrel level. Sentiment in the oil pits changed this week as inventory data showed a buildup in stockpiles and Trump administration rhetoric about a trade war raised questions about global shipments in the long term. Oil producer Hess said it would buy back an additional $1 billion in shares, avoiding a proxy fight with activist hedge fund Elliott Management, which had threatened to oust the company's chief executive.


-Rob Curran,


(END) Dow Jones Newswires

March 08, 2018 16:28 ET (21:28 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.