Shares of energy companies rose sharply after strong earnings from one oil major.
BP shares surged after the British oil giant posted a record annual profit for 2022, and said it would slow a shift to lower-carbon energy, reversing a well-publicized strategic shift in the wake of the Deepwater Horizon disaster.
Oil futures rose to a one-week high on optimism about Chinese demand. Oil initially spiked on reports that a key terminal in Turkey was shut down, with gains easing after the terminal reopened.
An earthquake in the region has claimed 7,100 lives.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-07-23 1727ET
