Shares of energy companies ticked down as the Federal Reserve's policy statement offset an increase in oil futures, which closed at an eight-year high.
Oil futures in New York closed above $87 a barrel, as continued military tensions on the Ukrainian border offset a surprise increase in oil stockpiles.
Crude-oil stockpiles rose by 2.4 million barrels to 416.2 million barrels, but remained about 8% below the five-year average, the Energy Information Administration said.
Natural gas futures rose as temperatures dropped in the Northeast.
"The Fed is clearly looking through omicron and will not react to weak data for January and February," said economists at brokerage Bank of America Global Research, in a note to clients, adding that Chairman Jerome Powell did not rule out the possibility of a 50 basis-point hike at the next Fed meeting in March.
"Bottom line, the risks are skewed to more than four hikes this year, as we have been flagging."
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-26-22 1641ET
