Energy Down As Traders Digest Market Outlook -- Energy Roundup

Features Dow Jones Newswires

Shares of energy producers fell alongside oil futures as traders hedged their bets on the impact of an Organization of the Petroleum Exporting Countries production agreement. Should oil prices rise rapidly, it could short-circuit the decision to extend production cuts, leading to an early termination in June, warned analysts at Bank of Tokyo Mitsubishi.

Continue Reading Below

Meanwhile, President Donald Trump's reported decision to move the U.S. embassy in Israel to the contested city of Jerusalem raised tensions in the Middle East.

Small oil-and-gas producer Ponderosa Energy said it was driven into bankruptcy by a "fraudulent" and "usurious predatory" lender that has tried to foreclose on its properties and that reneged on a rebates deal.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

December 05, 2017 16:22 ET (21:22 GMT)