Shares of energy companies fell slightly as rising interest rates and weak Chinese data spurred concerns about the outlook for oil demand.
Currently, the U.S. economy is poised to avert recession, but the steady march higher of Treasury yields and associated borrowing rates has created concern about another hit to growth from interest rates.
U.S. natural-gas futures fell after tropical storms in California and Texas proved little threat to production.
European natural-gas prices are on the rise as strikes in Australia revived supply concerns as the continent strives to replace Russian supplies. Dutch TTF, the European benchmark price, rose 9% to almost 40 euro, or about $43.50, a megawatt hour, the highest price since mid-June. Australian driller Woodside Energy said it was making good progress toward resolving the labor dispute at the heart of the latest spike.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-22-23 1755ET
