Energy shares again led the market higher as oil futures climbed for a third straight session.
Global benchmark Brent crude prices scored their highest finish since October 2018. Oil found support after data Wednesday revealed a drop in U.S. crude inventories to their lowest level since 2018, along with strong refinery demand, as offshore crude production continued to see a slow recovery in the Gulf of Mexico in the wake of Hurricane Ida, which made landfall on the Louisiana coast on Aug. 29.
It's been a "risk-on day across the board," said Tariq Zahir, managing member at Tyche Capital Advisors. Oil often rises along with the broader stock market, which saw benchmark indexes climb. Natural gas prices also finished higher, marking the first session of price increases in the past six sessions.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
09-23-21 1701ET
