Oil prices rose after Saudi Arabia and Russia extended voluntary supply cuts. West Texas Intermediate futures popped more than 1% and briefly traded above $87 per barrel, reaching their highest levels since November.
The news lifted energy stocks, with the S&P 500 sector gaining 0.5%. Shares of Halliburton and Occidental Petroleum each added more than 2%, while EOG Resources rose 1.8%. The uptick in oil pressured airline and cruise stocks, with American Airlines, United Airlines, Delta Air Lines<