Energy shares rose as U.S. benchmark oil prices erased overnight declines to finish the session higher.
WTI crude fell overnight after Energy Secretary Jennifer Granholm said in an interview the department was considering releasing some national crude reserves so high retail gasoline prices could fall.
But in an emailed statement today to The Wall Street Journal and other news agencies, the DOE clarified "there is no immediate plan to take those actions at this time."
Natural gas prices finished a choppy session virtually unchanged despite another bearish storage report and a further narrowing of a storage deficit.
In corporate news, Royal Dutch Shell said Thursday that Hurricane Ida's impact in the Gulf of Mexico hit its operations but it expects a cash boost from high global energy prices in the third quarter.
The Anglo-Dutch energy giant said Hurricane Ida is expected to cause losses of around $400 million to its adjusted earnings and cash flow from operations in the third quarter.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
10-07-21 1650ET
