Shares of energy companies rose as oil futures tested the $80 per barrel level and natural-gas futures surged following an unexpected storm in Houston.

The city was buffeted by hurricane-strength winds, killing four people, knocking out power, and raising concerns about regional natural-gas supplies. Natural gas futures rose by 5% in the wake of the storm, and ahead of air-conditioning demand.

The SPDR Select Sector Energy exchange-traded fund, which tracks the energy industry group of the S&P 500, tested all-time highs amid consolidation activity.

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(END) Dow Jones Newswires

05-17-24 1750ET