Energy shares slipped as oil prices fell after government data showed crude supplies in the U.S. unexpectedly grew last week, but overall petroleum stockpiles continued to decline.
The U.S. Energy Information Administration reported that the amount of stored oil rose by 2.2 million barrels last week, compared with the 2.1-million-barrel draw that analysts surveyed by The Wall Street Journal were expecting. But gasoline and diesel supplies fell by more than analysts were expecting. Total stockpiles of crude and petroleum fell by 9.1 million barrels amid stronger demand.
Continue Reading Below
In corporate news, Total SA agreed to buy French utility Engie SA's liquefied-natural-gas business for as much as $2 billion in a deal that would eventually make it the second-largest LNG player among Western energy firms.
-By Amy Pessetto, email@example.com
(END) Dow Jones Newswires
November 08, 2017 17:53 ET (22:53 GMT)