Shares of energy companies fell sharply after supply data showed oil markets moving towards a surplus situation.
Commercial crude-oil stocks, excluding the Strategic Petroleum Reserve, rose by 1.3 million barrels to 432.4 million barrels in the week ended Jan. 5 and were about 2% below the five-year average for the time of year, the Energy Information Administration said, contrary to analysts' expectations of a decline.
Yemen's Houthi rebels launched their largest barrage so far of missiles and drones into the crucial Red Sea shipping lane, while U.S. Secretary of State Antony Blinken continued his efforts to prevent the conflict in Gaza from escalating into a broader regional war.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-10-24 1738ET
