Energy Down As Traders Digest Market Outlook -- Energy Roundup
Shares of energy producers fell alongside oil futures as traders hedged their bets on the impact of an Organization of the Petroleum Exporting Countries production agreement. Should oil prices rise rapidly, it could short-circuit the decision to extend production cuts, leading to an early termination in June, warned analysts at Bank of Tokyo Mitsubishi.
Meanwhile, President Donald Trump's reported decision to move the U.S. embassy in Israel to the contested city of Jerusalem raised tensions in the Middle East.
Small oil-and-gas producer Ponderosa Energy said it was driven into bankruptcy by a "fraudulent" and "usurious predatory" lender that has tried to foreclose on its properties and that reneged on a rebates deal.
-Rob Curran, email@example.com
(END) Dow Jones Newswires
December 05, 2017 16:22 ET (21:22 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.