Shares of energy companies rallied in sympathy with oil prices as geopolitical concerns outweighed Treasury yield worries.

Oil futures logged their largest one-day percentage gain in more than a month, finishing 3.8% higher at a two-month-high of $81.22 a barrel.

Little progress was made in negotiations between the U.S. and Russia on Ukraine tensions.

Federal Reserve Chairman Jerome Powell indicated the central bank believed it had inflation under control.

Natural gas futures rallied for the third straight session, rising 4.2% to $4.26 per million British thermal units, amid anticipation that wintry weather on the East Coast would boost demand.

ExxonMobil agreed to buy a 49.9% stake in Norwegian biofuel concern Biojet, which plans to convert forestry and wood-based construction waste into low-emissions fuel.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-11-22 1629ET