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Energy Up With Oil Futures After GDP Report -- Energy Roundup

07/29/2021 | 04:37pm EDT

Shares of energy companies rose alongside oil futures, which closed at a two-week high, in the wake of a strong economic-growth report.

Gross domestic product grew by 6.5% in the second quarter in the U.S., according to the Commerce Department, but even that blistering rate was short of some economists' expectations.

Oil futures rose 1.7% to $73.62 a barrel, hovering near multiyear highs.

Meanwhile, analysts warned that a push to mandate masking in schools from the Centers for Disease Control could slow school reopenings, and thus frustrate parents' plans to return to the office, potentially hampering the rebound in gasoline demand in the U.S.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

07-29-21 1636ET

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