Energy Up as Oil Futures Test Multiyear Lows — Energy Roundup
Shares of energy companies rose, recouping some of their recent losses, even as oil futures wallowed around multiyear lows.
Oil is trading around $57 a barrel amid fears that production increase by the OPEC+ cartel will lead to a global glut. The prolonged weakness in oil has caused the energy sector to lose value in the last 12 months, even as the broad market surged.
"It's a bifurcated market," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. Sectors such as technology and communications services are up by more than 20% in the last 12 months, and a handful of others are up modestly. "Everything else is negative," Joyce said.
Oil futures have also slipped in recent weeks due to optimism about the Middle East cease-fire. Senior U.S. negotiators Steve Witkoff and Jared Kushner are heading to Israel, hoping to keep the fragile truce and the peace process for Gaza on track after repeated clashes between Hamas and Israel.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 20, 2025 17:11 ET (21:11 GMT)
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