Shares of energy companies rose as oil futures closed at a seven-year high.
Oil rose 1.9% to $85.43 a barrel, the highest level since October 2014, as traders hedged against a Russian invasion of Ukraine. Russian President Vladimir Putin has kept global energy markets on edge for weeks with a game of brinkmanship as he amasses an invasionary force on the Ukrainian border.
"The euro zone is dependent on Russia for natural gas," noted Brent Schutte, chief investment strategist at money manager Northwestern Mutual Wealth Management.
Exxon Mobil set a goal to reduce or offset greenhouse-gas emissions from its operations to zero by 2050, as investor and public pressure mounts on oil producers to respond to climate change.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-18-22 1627ET
