Energy Up as Oil, Natural Gas Gain — Energy Roundup
Shares of energy companies rose as oil futures tested the $80 per barrel level and natural-gas futures surged following an unexpected storm in Houston.
The city was buffeted by hurricane-strength winds, killing four people, knocking out power, and raising concerns about regional natural-gas supplies. Natural gas futures rose by 5% in the wake of the storm, and ahead of air-conditioning demand.
The SPDR Select Sector Energy exchange-traded fund, which tracks the energy industry group of the S&P 500, tested all-time highs amid consolidation activity.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
May 17, 2024 17:50 ET (21:50 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
4 Wide-Moat Stocks to Buy for the Long Term While They’re Undervalued Today
-
Markets Brief: Four Stocks Made Up 80% of the Gains. Can It Last?
-
Is It Time to Ditch Your Money Market Fund for Longer-Term Bonds?
-
What’s Happening In the Markets This Week
-
4 Reasons Why Today’s Stock Market Is Delivering Impressive Performance
-
What Does Nvidia’s Stock Split Mean for Investors?
-
5 Undervalued Stocks to Buy as Their Stories Play Out
-
Markets Brief: Return of the Meme Stocks
-
2 Undervalued Dividend Stocks the Best Managers Are Buying
-
Tesla: Shareholder Vote Reduces Key Person Risk
-
After Earnings, Is CrowdStrike Stock a Buy, a Sell, or Fairly Valued?
-
Adobe’s Strong Quarterly Results Drive Share Gains
-
What Does Broadcom’s Stock Split Mean for Investors?
-
5 Ultracheap Stocks to Buy With the Best Returns on Investment
-
Broadcom Earnings: AI Sales Growth Accelerates
-
Oracle Earnings: IaaS Signings More Than Make Up for Miss