10-4-17 5:01 PM EDT | Email Article

Shares of energy producers declined amid signs that the recent rally in oil prices was running out of steam.

The amount of crude oil held in U.S. storage tanks fell by 6 million barrels last week, according to the U.S. Energy Information Administration. But the decline was mostly the result of international price arbitrage as the spread between U.S. oil prices and those overseas prompted oil merchants to send ships to the U.S. and ship the oil around the world.


Rob Curran, rob.curran@dowjones.com


(END) Dow Jones Newswires

October 04, 2017 17:01 ET (21:01 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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