Shares of energy companies rose sharply alongside oil futures as traders digested a surprisingly large drop in U.S. inventories.
South African energy concern Sasol said its first-half performance was hit by a volatile macroeconomic environment, though it backed prior guidance despite expecting that pricing and demand volatility to persist.
U.S. natural-gas production notched new highs in December, pushing down prices for the heating fuel despite the frigid start to 2024.
Murphy Oil's fourth-quarter earnings fell, reflecting lower production on a major Texas shale oil play and in the Gulf of Mexico. But the company boosted its dividend and forecast 2024 production to be flat to slightly higher than the fourth-quarter levels.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-25-24 1817ET
