Shares of energy companies fell amid concerns about earnings.

Oil futures have now dropped four out of the last five sessions, as Hurricane Beryl proved less damaging to energy infrastructure than anticipated.

BP shares slid after the British oil major warned weak oil trading and lower refining margins would hurt second-quarter earnings. The disclosure echoed a similar one from the largest U.S. oil company, Exxon Mobil. Refining margins have been cut in two during the last year as gasoline production has increased even as consumption fell marginally. There are some good signs for demand, however, after a record weekend for U.S. airport foot traffic.


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

(END) Dow Jones Newswires

07-09-24 1736ET