Energy stocks enjoyed a broad rally Wednesday, with the sector posting the biggest gains among the S&P 500 11 key sectors, as oil prices jumped (Chevron Corp.'s stock (CVX) rallied 3.1% to be among the Dow Jones Industrial Average's top gainers, but was just the SPDR Energy Select Sector ETF's (XLE) 24th-best performer. The energy ETF climbed 4.1% in afternoon trading, with all 26 components gaining ground. Among's the ETF's most-active members, shares of Occidental Petroleum Corp. (OXY) jumped 9.3%, Marathon Oil Corp. (MRO) hiked up 6.0%, Exxon Mobil Corp. (XOM) rose 3.8%, Halliburton Co. (HAL) advanced 4.9% and Schlumberger Ltd. (SLB) shot up 5.1%. Meanwhile, crude oil futures climbed 4.5%.) following data showing a drop in supply and as Hurricane Sally curtailed production.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 16, 2020 13:57 ET (17:57 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.