Shares of energy companies rose slightly amid optimism about a revival of Chinese demand.
The rally in oil futures has lost some momentum, however, said one strategist. "The economy still could roll over and some energy traders are still skeptical on how quickly China's crude demand will bounce back this quarter," said Edward Moya, senior market analyst at foreign-exchange brokerage Oanda Group, in a note to clients.
Natural gas futures jumped by 8.6% for their biggest gain of the year so far as unseasonably warm weather gave way to frigid conditions in much of the U.S.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-23-23 1725ET
