Shares of energy companies rose alongside oil futures after mixed retail sales data and cooling materials prices eased inflation fears.
Oil futures advanced by more than 2% to close above $65 a barrel in New York in anticipation of a rebound in demand during the summer season. The Transportation Security Administration estimated 1.7 million passengers were screened at airport security checkpoints Thursday, a 14-month high.
The number of active, oil-targeted rigs in the U.S. rose by eight in the latest week to a nearly 13-month-high of 352 rigs as producers respond to rising energy demand and stabilizing prices, according to data from oilfield-services company Baker Hughes.
The DarkSide hacking group responsible for the shutdown of the Colonial Pipeline system is reportedly telling others in the hacking community that it's ceasing operations.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-14-21 1628ET
