Sector Update: Energy

MT Newswires Live
Jul 25

Energy stocks were mixed Friday afternoon, with the NYSE Energy Sector Index fractionally lower and the State Street Energy Select Sector SPDR ETF (XLE) up 0.4%.

The Philadelphia Oil Service Sector Index was climbing 2.8%, and the Dow Jones US Utilities Index increased 0.1%.

Front-month West Texas Intermediate crude oil fell 4.1% to $88.43 a barrel, and the global benchmark Brent crude contract dropped 4.6% to $96.07 a barrel. Henry Hub natural gas futures shed 0.6% to $2.90 per 1 million BTU.

In corporate news, NextEra Energy (NEE) shares were down 0.5%. The company reported Q2 adjusted earnings Friday of $1.15 per share, up from $1.05 a year earlier. Analysts polled by FactSet expected $1.11. Operating revenue for the quarter ended June 30 was $7.53 billion, up from $6.70 billion a year ago, but below analysts' estimates for $8.11 billion.

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