Oil rallies on OPEC output deal; energy stocks lift Wall Street
Oil prices rallied on Wednesday after OPEC members reached an agreement on a production-limiting deal, boosting energy sector shares.
The U.S. dollar was flat versus a currency basket but fell to a near-five month low versus the Norwegian krone NOK=. Norway, although not an OPEC member, is a major crude producer.
Crude oil prices jumped after sources told Reuters that the Organization of the Petroleum Exporting Countries agreed to reduce its oil output by about a million barrels per day.
U.S. crude CLc1 was up 5.2 percent on the day.
The move in oil boosted shares in the energy sector of... read more
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