Energy Shares Help Wall Street

Credit: Wochit
Published on June 13, 2019 - Duration: 00:40s

Energy Shares Help Wall Street

According to Reuters, Gains in energy shares helped Wall Street’s main indexes snap two days of weakness and trade higher on Thursday, with hopes of an interest rate cut adding to the upbeat sentiment.

Crude prices rose as much as 4%, a day after hitting five-month lows, after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz, through which a fifth of global oil consumption passes.

The S&P energy index jumped 1.21%, the most among the 11 major sectors.

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