Energy Up As Glut Seen As Over -- Energy Roundup

FeaturesDow Jones Newswires

Shares of oil and gas companies rose as traders piled back into one of the best-performing sectors for the year to date.

The Energy Select SPDR exchange-traded fund, which tracks the energy sector of the Standard & Poor's 500, approached its highest levels since the peak of the U.S. oil boom in 2014 amid signs from Saudi Arabia that OPEC would be willing to extend production cuts beyond 2018. Traders have dived back into the energy sector amid a growing sense that a yearslong global oil glut is finally receding due to production cutbacks at the Organization of the Petroleum Exporting Countries, regional crises and rising demand.

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--Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

January 22, 2018 16:21 ET (21:21 GMT)

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