Energy was the only one of the S&P 500’s SPX, -0.75% 11 key sectors to be gaining ground Wednesday, as rallies in crude oil and natural gas futures offset concerns over the start of the Federal Reserve’s move to reduce liquidity in the marketplace. The SPDR Energy Select Sector ETF XLE, +1.63% climbed 1.5% toward an eight-year high, with all 21 equity components trading higher. Among the biggest gainers, shares of ConocoPhillips COP, +3.02% hiked up 3.8% into record territory, Baker Hughes Co. BKR, +3.97% ran up 3.6% toward a six-week high, Devon Energy Corp. DVN, +2.11% gained 2.7% toward an eight-year high and Exxon Mobil Corp. XOM, +1.92% rose 2.3% toward an eight-year high. The sector ETF’s worst performer was Marathon Oil Corp.’s MRO, -0.16% stock, which tacked on 0.7% toward an eight-year high. Meanwhile, crude oil futures CL00, -2.00% rose 2.0% toward a three-month high and natural gas futures NG00, -0.01% jumped 7.2%.
