Shares of energy companies fell after a mixed earnings report from one oil major.
Chevron shares slid after the second-largest U.S. oil company by market capitalization posted fourth-quarter earnings shy of Wall Street targets, hurt by higher costs and lower prices for refined products. Chevron posted its highest ever annual earnings for 2022, as the Ukraine war boosted the price of oil.
Oil futures fell ahead of an Organization of the Petroleum Exporting Countries meeting.
Natural gas futures recouped some of their recent losses, closing above $3 per million British thermal units.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-27-23 1731ET
