Sector Update: Energy

MT Newswires Live

Aug 21

Energy stocks were higher Thursday afternoon, with the NYSE Energy Sector Index rising 1.2% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.8%.

The Philadelphia Oil Service Sector Index was decreasing 0.5%, and the Dow Jones US Utilities Index shed 0.4%.

Front-month West Texas Intermediate crude oil rose 2.2% to $87.72 a barrel, and the global benchmark Brent crude contract advanced 1.5% to $93.12 a barrel. Henry Hub natural gas futures fell 3.5% to $2.72 per 1 million BTU.

In corporate news, Equinor (EQNR) shares gained 1.6% after it said Thursday it signed a three-year deal with Poland's Orlen for crude oil sale from the Johan Sverdrup field on the Norwegian continental shelf, starting in September.

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