Energy stocks rise on supply shifts and sanctions
pre-market1 source ↓written by the desknot a recommendation
- Sector Index rose
- 1.6%
- SPDR ETF climbed
- 2.4%
- crude each increased
- 2.3%
- gas futures
- 5.6%
Energy stocks surged this week as US sanctions on Venezuelan tankers tightened crude supplies, pushing prices higher. The NYSE Energy Sector Index rose 1.6%, while the Energy Select Sector SPDR ETF climbed 2.4%. West Texas Intermediate and Brent crude each increased 2.3%, with natural gas futures up 5.6%. Utilities, however, lagged behind in this rally.
Not investment advice. For informational purposes only.