Shares of oil and gas companies ticked down as oil slipped from a two-and-a-half year high. Royal Dutch Shell was among an increasingly large wave of companies warning investors about charges attributable to the U.S. tax overhaul. Shell estimated its U.S. tax-related charge in the fourth quarter would be between $2 billion and $2.5 billion, stemming from a reduction in the value of its deferred tax assets. The reduction in corporate taxes also reduced the value of these credits held on companies' books to reflect commitments to future tax payments.
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(END) Dow Jones Newswires
December 27, 2017 16:19 ET (21:19 GMT)