Shares of energy companies fell as oil futures continued a recent retreat.
U.S.-traded oil futures fell 1.4% to $73.04 a barrel, retreating for the third straight session.
A U.S. destroyer and three commercial ships operating in the Red Sea came under drone and ballistic-missile attacks, the Pentagon said Sunday, marking the most significant escalation of a weeks long military attack on ships operating in those waters.
A wave of consolidation in lagging sectors such as energy could continue, said one strategist. “Strategic buyers in beaten up sectors might find the potential growth attractive in weaker brethren within the sector,” said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
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