Energy Up With Oil on Weaker Dollar -- Energy Roundup

Shares of oil and gas companies rose alongside oil futures, as traders digested another report of falling U.S. inventories and a lurch lower for the dollar this week. Analysts at brokerage Bank of America Merrill Lynch said hedging activity by U.S. shale oil producers could cap the rally in oil prices at around $80 a barrel in London trading, where oil already stands around $70, as reported earlier. Saudi Arabia's state oil company Aramco is building an oil-refining empire, a major shift for the world's No. 1 crude producer as it tries to shore up its balance sheet ahead of the world's biggest-ever initial-public offering.

-- Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

January 26, 2018 16:10 ET (21:10 GMT)