Shares of energy companies fell sharply alongside oil futures after OPEC+ unexpectedly boosted production.
Crude futures slid after OPEC+ agreed to raise output by 411,000 barrels a day in June, speeding up the gradual return of 2.2 million barrels a day in voluntary production cuts.
Dallas refiner Sunoco agreed to buy Canadian rival Parkland for $9.1 billion.
Shares of BP rose amid speculation that Anglo-Dutch giant Shell was weighing an offer for its struggling British rival.
U.S. natural gas futures slipped after a 17% rally last week, as the near-term weather outlook remains supportive of large inventory builds.
Abu Dhabi natural-gas driller Adnoc Gas posted higher first-quarter net income that beat market views.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
May 05, 2025 17:24 ET (21:24 GMT)
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