Energy sector, oil prices rise boosting S&P 500 indexes

From Dow Jones & Company: 2025-06-02 13:41:00

The S&P 500 Energy sector index rose by 1% on Monday, with Information Technology and Communication Services indexes also posting gains of 0.65% and 0.4% respectively. Other sectors experienced losses for the day. The increase in oil prices, with Crude Oil WTI up 3.5% to $62.50 a barrel, contributed to the positive performance. The Organization of the Petroleum Exporting Countries and its allies are increasing production, but the rise was less than expected, leading to higher prices. Tensions between Russia and Ukraine also played a role in the uptick in oil prices.



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