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Energy Down As Oil, Natural Gas Close At 3-Month Lows -- Energy Roundup

11/30/2021 | 04:29pm EST

Shares of energy companies slid as energy futures closed at three-month lows.

Oil futures fell by more than 5% to $66.18 a barrel, closing at their lowest level since August 23, as investors worried about the implications of the Omicron variant on global oil demand.

The U.S. has restricted travel to southern African nations, while other nations such as Israel have imposed tighter travel restrictions. More broadly, speculation about the nature of Omicron and the efficacy of vaccines is likely to cool demand for domestic and international travel.

Natural gas futures fell 5.9% to $4.57 per million British thermal units, compounding Monday's 11% plunge and also closing at their lowest mark since August.

The SPDR Energy Select Sector exchange-traded fund, which tracks the energy industry group of the Standard & Poor's 500, is still up sharply for the year to date, but is back to the same level where it traded in June.

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

(END) Dow Jones Newswires

11-30-21 1628ET

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