2-8-18 4:12 PM EST | Email Article

Shares of oil and gas companies fell as traders rotated out of economically sensitive stocks and commodities in another wave of risk aversion that saw the Dow Jones Industrial Average fall more than 800 points on the session. A flight from risk this week, sparked by rising Treasury yields, has caused oil prices to fall back to around $61 a barrel in New York. French oil giant Total said it would raise its dividend by 10% over the next three years and buy back up to $5 billion in shares, joining other oil giants such as Chevron, Statoil and ConocoPhillips in boosting the amount of cash returned to shareholders. Exxon Mobil said it had added 2.7 billion barrels to its reserves in 2017.

 

-Rob Curran, rob.curran@dowjones.com

 

(END) Dow Jones Newswires

February 08, 2018 16:12 ET (21:12 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Add a Comment

Try Premium Membership today. Your first 14 days are free of charge. Start my Premium Membership Trial.
Sponsored Links
Buy a Link Now
Sponsor Center
Content Partners