Exxon, Chevron Lead Dow as Crude Oil Triggers Energy Rally

Energy stocks were the best performers on markets Tuesday as crude oil recouped part of the losses sustained over a four-day losing streak.
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Energy stocks were the best performers on markets Tuesday as crude oil recouped part of the losses sustained over a four-day losing streak. Oil closed cents from $48 a barrel. The bounce in crude prices propelled major oilers higher. Exxon Mobil (XOM) topped the Dow Jones Industrial Average, adding more than 4%. Chevron followed close behind, climbing 3.6%. DuPont (DD) was the only Dow component in the red, falling after reporting a 12% decline in quarterly revenue. Sales were hit by a stronger U.S. dollar, lower crop prices and weaker demand for industrial chemicals. Freeport McMoRan (FCX) was one of the best performers on the S&P 500 after announcing a strategic review to cut costs in capex and operations in the wake of lower prices for gold and copper.