Energy Up With Oil After Inventory Data — Energy Roundup
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Dow Jones
Shares of energy companies rose alongside oil futures.
Oil prices futures rose after a reported drop in U.S. gasoline stockpiles, and as OPEC+ kept output cuts in place.
The Energy Information Administration reported that U.S. crude inventories rose 3.2 million barrels in the week ended March 29. U.S. gasoline inventories showing a drop of 4.3 million barrels.
OPEC said it welcomed the intention of Iraq and Kazakhstan to compensate for recent overproduction. Mounting tensions between Israel and Iran have also boosted oil futures in recent sessions.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 03, 2024 17:47 ET (21:47 GMT)
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