Listen to this article

00:00
00:00

Energy shares posted strong gains for the second day in a row on Wednesday, leading US equities markets into positive territory.

The S&P 500 energy index tacked on 1.2 per cent on Wednesday, following a gain of 1.3 per cent in the previous session.

The two days of gains snapped snapped an eight-session losing streak. A rise in the price of oil on Wednesday helped to bolster the appeal of companies in the industry.

West Texas Intermediate, the US standard, climbed 2.2 per cent to $49.44 a barrel. Meanwhile, Brent rose 2 per cent to $52.35 a barrel.

In fixed income, investors bid up Treasuries, sending yields lower, despite hawkish commentary from two senior US policymakers. The 10-year yield fell 2.9 basis points to 2.38 per cent in late-day action.

The US dollar climbed 0.2 per cent against a basket of six world currencies.

Copyright The Financial Times Limited 2017. All rights reserved.
myFT

Follow the topics mentioned in this article

Follow the authors of this article

Comments have not been enabled for this article.