Shares of energy companies rallied as traders bet a spike in oil and natural gas futures would continue.

Oil prices rose by more than 2% to top $78 a barrel, a multimonth high, amid anticipation of global that sanctions on Russia's "shadow fleet" would curb global supplies.

Natural-gas futures closed above $4 per million British thermal units after hitting a more than one-year high in overnight trading.


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

(END) Dow Jones Newswires

01-13-25 1708ET