By Steve Gelsi, MarketWatch
NEW YORK (MarketWatch) — An upper-management shake-up at BP PLC sent shares of the oil major higher Wednesday as energy stocks rose ahead of closely watched weekly supply data.
BP (BP 39.84, +0.55, +1.40%) shares rose a little more than 1% to stand at $39.76, after having breached $40 in early trading.
Just days away from taking over as chief executive, Bob Dudley removed the head of the company’s exploration and production unit, and announced plans to restructured the business into three departments. See more on new BP CEO’s shake-up
Among energy-sector benchmarks, the NYSE Arca Oil Index (XOI 1,022, +1.37, +0.13%) was flat at 1,020 points. The Philadelphia Oil Service Index (OSX 196.55, +1.76, +0.90%) rose 1.3% to 197. The NYSE Arca Natural Gas Index (XNG 524.90, +1.41, +0.27%) rose 0.1% to 524.
