Energy Rises as Middle East Conflict Escalates - Energy Roundup
Shares of energy companies rose amid escalation of Middle East conflict.
Iran fired at least 100 missiles at Israel, and some were shot down by American forces in the region, a U.S. defense official said.
Oil futures settled 2.4% higher, 17 cents shy of the psychologically significant $70-per-barrel level as Israel vowed to respond. Oil prices initially added more than 5% because of concerns that global supplies would be affected by the conflict.
French energy major TotalEnergies said it would invest $10.5 billion in a large offshore oil-and-gas field in Suriname, in line with its push to expand its project portfolio outside of the restrictive legal environments of North America and Europe.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 01, 2024 17:29 ET (21:29 GMT)
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