Shares of energy companies fell after a relatively high count of oil-rig activity and as investors rotated into growth sectors such as technology.
After surging in recent weeks, the price of oil has been under pressure amid concerns about excess supply and diminished demand in some parts of Europe that are once more restricting economic activity in their battle against Covid-19.
On the supply front, the number of active oil-targeted rigs in the U.S. remained unchanged in the latest week at a nearly one-year high of 337, according to the latest tally from oilfield services company Baker Hughes.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-09-21 1637ET
