Energy Rallies As Oil Hits More 52-Week Highs -- Energy Roundup

Shares of energy companies rallied as oil futures closed at 52-week highs and investors bet the sector would adjust to the green-energy push.

Oil futures closed above $55 a barrel in New York as bullish traders drew encouragement from the Organization of the Petroleum Exporting Countries and their allies' commitment to cutting production this month and next.

Exxon Mobil shares rallied, as investors digested the oil giant's carbon-capture investment plan, and speculation that it was weighing a merger with rival Chevron.

The investment arm of Britain's oil major, BP Energy Partners, is backing an alternative power company's Catalyst Power Holdings first expansion move to supply midmarket businesses with energy from natural gas and solar power generators.

Shares of Blink Charging rallied following reports electric vehicle charging stations will be offered at entertainment and leisure-related locations through a relationship with cinema-service provider Ballantyne Strong.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

02-03-21 1645ET