3-8-18 4:28 PM EST | Email Article

Shares of oil and gas companies fell alongside oil futures, which closed at three-week lows around the psychologically significant $60-a-barrel level. Sentiment in the oil pits changed this week as inventory data showed a buildup in stockpiles and Trump administration rhetoric about a trade war raised questions about global shipments in the long term. Oil producer Hess said it would buy back an additional $1 billion in shares, avoiding a proxy fight with activist hedge fund Elliott Management, which had threatened to oust the company's chief executive.


-Rob Curran, rob.curran@dowjones.com


(END) Dow Jones Newswires

March 08, 2018 16:28 ET (21:28 GMT)

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