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Oil futures regained part of their postelection losses, lifting energy shares. New York crude settled just above $90 a barrel, while Brent, the globally traded benchmark, tested $100 as traders expressed skepticism about a U.S. exit from the Middle East.
Shares of energy companies advanced alongside the partial recovery in oil prices. The gains came as crude futures clawed back some ground lost after the election.
ConocoPhillips shares edged lower despite the Houston-based producer reporting higher third-quarter earnings. The company’s earnings were boosted by oil gains related to the Iran war.
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