Energy Down as Oil, Diesel Prices Moderate

Dow Jones

2 hours ago

Shares of energy companies ticked down as oil futures closed well below their recent highs in New York.

Oil is trading around $91 a barrel in New York despite the approach of Hurricane Isaias to the Florida coast as a Category 3 hurricane. BP was among the oil majors who suspended production at offshore platforms and evacuated workers.

Iran and Yemeni rebels hit oil markets with a one-two punch on Wednesday and Thursday with assaults on Persian Gulf shipping and Saudi oil installations.

President Trump said Friday that his administration has reached an agreement with Russian President Vladimir Putin for Russia to supply hundreds of thousands of tons of diesel fuel in the coming months, casting it as part of an effort to lower prices for American farmers and households.

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