12-29-17 4:11 PM EST | Email Article

Shares of oil and gas companies rose as oil futures topped $60 a barrel in New York trading for the first time in more than two years. Oil futures have now more than doubled from their lows below $30 a barrel in late 2016. The last leg up was inspired by reports from the Energy Information Administration that stockpiles had diminished. "The inventory trends have been very bullish," said Kyle Cooper, a consultant with ION Energy Group, as reported earlier. "I suspect that continues early into the new year."

-Rob Curran, rob.curran@dowjones.com

 

(END) Dow Jones Newswires

December 29, 2017 16:11 ET (21:11 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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