The energy sector was buoyed by gains in oil futures. The West Texas Intermediate front-month contract rose 1.5%, settling at its highest since early November as investors weighed the outlook for interest-rate cuts by the Federal Reserve, tensions in the Middle East and uncertainty about the outlook for crude demand.
New York state's $260 billion pension fund will divest some investments in oil companies including Exxon Mobil that officials say haven't done enough to get ready for the energy transition.
RBC Capital Markets predicts Shell's LNG volumes could rise 8% this year if utilization rates move up for Prelude, Nigeria and Trinidad, in addition to the start-up of LNG Canada in late 2024.
Shares of Fusion Fuel Green nearly doubled after the company's HEVO-Portugal project was picked by the European Commission for a special funding program.
Write to Mary de Wet at mary.dewet@dowjones.com
(END) Dow Jones Newswires
02-16-24 1648ET
