Energy Lower as Traders Doubt Oil Rally -- Energy Roundup

FeaturesDow Jones Newswires

Shares of energy producers declined amid doubts about the sustainability of the recent oil rally.

Oil futures held near two-year highs in the wake of OPEC production data. Crude output by members of the Organization of the Petroleum Exporting Countries dropped by 0.46%, to 32.59 million barrels a day in October, compared with the month prior. The rebound in oil prices over recent months propelled the energy sector to the strongest growth rate of any of the 10 Standard & Poor's 500 sectors in the third quarter.

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"Energy earnings more than doubled year/year as the sector continued to stabilize on the back of a 13% year-to-date increase in Brent crude prices," said analysts at brokerage Goldman Sachs in a research note.

Rob Curran,

(END) Dow Jones Newswires

November 13, 2017 17:00 ET (22:00 GMT)