Energy Up After Inflation Data — Energy Roundup
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Dow Jones
Shares of energy companies rallied after muted inflation data.
The August personal consumption expenditure index -- the Federal Reserve's preferred gauge of price changes -- rose 2.2% from a year earlier, almost hitting the Fed's 2% target.
Natural gas futures rose and finished the week with a 5% gain as Hurricane Helene struck the coast of Florida as a Category 4 storm, killing at least 22 people and knocking out power for millions.
Oil futures finished the week with a 4% loss, falling to $68.18 a barrel after The Financial Times reported that Saudi Arabia may abandon its $100-per-barrel price target.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
September 27, 2024 17:33 ET (21:33 GMT)
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