The energy sector led the gains of the S & P500, reflecting rising oil prices, after Iraq and Algeria joined Saudi Arabia to support an extension of production cuts by OPEC. In addition, US oil inventories declined more than expected. Despite this, this rise in the price of crude was not enough to recover from the losses recorded last week. The US Department of Energy reported today that weekly oil inventories fell by 5.2 million barrels, compared to estimated 1.9 million barrels. Inventories of gasoline fell by 150,000 barrels, compared with an expected increase of 65,400 barrels.