Energy Down After Inventories Report -- Energy Roundup

02/07/18 04:43 PM EST

Shares of oil and gas companies fell alongside oil futures, which closed at a four-week low around $61-per-barrel level after the second straight increase in U.S. stockpiles. The Energy Information Administration said domestic crude supplies rose 1.9 million barrels for the week ended Feb. 2. One energy analyst said the oil market is coming to terms with a shift in the flow of energy commodities world-wide. Oil prices may have been affected by a separate report from the EIA "that will rock the world as we know it," said Phil Flynn, senior market analysts with the Price Futures Group. "The EIA reported that the United States, which has been a net energy importer since 1953, will be on track to become a net energy exporter by 2022."

-Rob Curran,


(END) Dow Jones Newswires

February 07, 2018 16:43 ET (21:43 GMT)

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