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Share Name | Share Symbol | Market | Type |
---|---|---|---|
China Resources Beer Holdings Company Limited | TG:CHK | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.06 | 1.63% | 3.74 | 3.62 | 3.76 | 3.74 | 3.74 | 3.74 | 3 | 20:55:07 |
By Steve Gelsi
Royal Dutch Shell CEO Jeroen van der Veer on Monday reiterated the industry's recent warning about a possible spike in oil prices down the road, but it had little effect on falling oil prices and weaker energy stocks on Monday.
The Amex Oil Index (XOI) fell 1.6% to 965. The Amex Natural Gas Index (XNG) fell 1.4% to 439. The Philadelphia Oil Service Index (OSX) dropped 2.6% to 175.
Movers in the sector included Hess Corp. (HES), down 3.5% to $57.10, and Chesapeake Corp. (CHK), down 3.2% to $22.52. Shares of Weatherford (WFT) fell 3.5% to $19.90.
Oil futures fell 85 cents to $67.59 on a stronger dollar and weaker equity markets. Nobuo Tanaka, the executive director of the International Energy Agency, said fundamentals don't support the recent run-up in oil prices.
Van der Veer warned a lack of investment could leave the energy sector underprepared for a surge in demand tied a 50% increase in world population by 2050.
"We think it is a good philosophy to be a high investor (now) and benefit from the lower construction prices," he said in a report by the Associated Press.
His comments came after energy pundits reacted to cutbacks in capital spending as a result of lower oil prices and the financial crisis in recent months.
Sempra Energy (SRE) was flat at $46.65 after its Sempra LNG unit inked a deal handle liquefied natural gas from Ras Laffan Liquefied Natural Gas Company at its LNG terminal near Lake Charles, La.
General Electric's (GE) GE Oil & Gas unit said it won a $250 million contract to supply subsea wellhead systems to Petroleo Brasileiro SA. (PBR).
-Steve Gelsi; 415-439-6400; AskNewswires@dowjones.com
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