Energy Up With Oil Futures As More Storms Loom -- Energy Roundup

Features Dow Jones Newswires

Shares of energy producers rose as oil prices rebounded as more storms formed around the Gulf of Mexico.

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Gasoline futures continued their gains, however, after reports that the Colonial Pipeline, the largest gas transportation conduit in the U.S., which runs between Texas and the New York area, was making only intermittent deliveries because of Hurricane Harvey.

Meanwhile, storm watchers said Tropical Storm Irma was gaining force as it headed towards the Atlantic Coast.

In what may be a sign of things to come for other parts of the globe, Denmark's national energy company said it was selling off the last of its oil and natural-gas fields in a transaction expected to close in September. Dong Energy, whose first name includes an acronym of oil and gas, is cutting exposure to fossil fuels and focusing on renewable-energy sources.

U.S. authorities may try to block a deal whereby Russian oil concern Rosneft would gain a stake in Venezuelan gasoline marketer Citgo's U.S. refineries.

-Rob Curran, rob.curran@dowjones.com

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(END) Dow Jones Newswires

August 31, 2017 16:35 ET (20:35 GMT)