Shares of energy companies rose amid optimism about demand ahead of the summer driving season.

Shares of Phillips 66, Valero and other major refiners tested all-time highs. Seasonal gasoline price increases have been more severe than normal this year, thanks largely to severe weather at home and geopolitical disruptions abroad, The Wall Street Journal reported.

Oil-services giant will pay almost $400 million to acquire 80% of carbon-capture company Aker Carbon Capture, creating a combined carbon-capture-focused venture.

Shares of ethanol producer REX American rose after it logged fourth-quarter earnings growth.

Write to Rob Curran at

(END) Dow Jones Newswires

03-28-24 1726ET