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Energy Down On Session, Up On Week, Amid Iran Killing, OPEC Reports -- Energy Roundup

11/27/2020 | 01:50pm EST

Shares of energy companies gave back some recent gains but remained sharply higher on the week after reports of a high-profile assassination in Iran, and that the Organization of the Petroleum Exporting Countries was seeking to extend production caps.

OPEC and its Russia-led partners are leaning toward extending oil production cuts for another two to three months, according to officials familiar with the discussions, a move they hope will keep markets tight even as prices start to recover from Covid-19-inspired lows earlier this year.

A top Iranian nuclear scientist was killed near Tehran, according to Iranian state television, the latest blow to Iran's controversial atomic program.

Natural gas prices fell slightly after a significant run-up earlier in the week.

Major oil companies addressed sustainable-energy and climate-change issues frequently on conference calls, despite looming issues such as the Covid-19 pandemic, said strategists at brokerage Morgan Stanley, in a note to clients.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

11-27-20 1349ET

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 2.10% 55.94 Delayed Quote.6.15%
MORGAN STANLEY 0.52% 75.645 Delayed Quote.9.79%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.36% 73.617 Delayed Quote.-0.05%
WTI 1.25% 52.971 Delayed Quote.8.19%
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