Energy Down as Traders Hedge on Growth View -- Energy Roundup

Shares of energy companies fell as traders hedged their bets on the outlook for growth.

Exxon Mobil and Chevron posted lower third-quarter profit as energy prices sank and fuel-making margins narrowed. The companies signaled confidence that their cost-cutting and reduced spending since the pandemic have prepared them for the worst, but there are increasing signs that a glut of oil will keep prices low for months to come.

U.S. natural gas futures slid for the week amid mild weather forecasts.

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(END) Dow Jones Newswires

11-01-24 1750ET