Shares of energy producers declined as fears about conflict in the Middle East subsided somewhat. But in Iraq, tensions remain high. Chevron is temporarily suspending its operations in Iraqi Kurdistan, as an Iraqi backlash against Kurdish independence is causing reverberations in the local oil industry. Clashes between Iraqi government forces and troops from the Kurdish region have led to temporary shutdowns in crude production from the Kirkuk province. But U.S. officials have downplayed the significance of the clashes, according to recent media reports. BP said its chairman, Carl-Henric Svanberg, intends to retire after an eight-year stint, during which time he presided over the response to the Macondo spill. Investors await earnings from oil-services giants Baker Hughes and Schlumberger Friday to see investment trends on the oil patch.
-Rob Curran, email@example.com
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(END) Dow Jones Newswires
October 19, 2017 16:42 ET (20:42 GMT)