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

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03/08/2018 | 10:28 pm


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, rob.curran@dowjones.com





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