Energy Down With Oil Futures on Trade Fears - Energy Roundup

05/09/19 04:27 PM EDT

Shares of energy companies fell alongside oil futures as traders braced for the collapse of U.S.-China trade negotiations. Chevron bowed out of the race to take over driller Anadarko Petroleum, conceding in a bidding war to rival Occidental Petroleum and opting to take a $1 billion termination fee from Anadarko. The number of oil-and-gas rigs active in the U.S. fell by 13 to 1071 in the week ended May 8, according to a tally from data firm S&P Global Platts.

 

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 09, 2019 16:27 ET (20:27 GMT)

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