Energy issues are lower as oil prices fall on concerns of a possible rate hike in China. Chevron ( CVX ) is down slightly even as it affirmed its previous full-year production guidance for 2010. Royal Dutch Shell plc (RDSA) was granted approval from the Australian government to develop the world's first liquefied natural gas project using a floating plant. Environment Minister Tony Burke stated, however that the plant off the coast of Western Australia will need to adhere to strict conditions. Energy trust Enerplus Resources Fund ( ERF ) is down slightly before the bell on the NYSE despite reporting third quarter results that beat market expectations. Oil refiners Saras SpA ( SRS ) and ERG SpA (ERG) are both expecting profits to rise in the fourth quarter as strikes and maintenance slow down fuel production in Europe. Brent crude is 1.6% weaker at $87.39 a barrel on NYMEX.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.