Sector Update: Energy

MT Newswires Live

Jun 13

Energy stocks advanced Thursday afternoon, with the NYSE Energy Sector Index rising 0.5% and the Energy Select Sector SPDR Fund (XLE) up 0.1%.

The Philadelphia Oil Service Sector index was down 0.3%, and the Dow Jones US Utilities index rose 0.8%.

Front-month West Texas Intermediate crude oil was fractionally higher at $68.17 a barrel, and the global benchmark Brent crude contract was shedding 0.4% to $69.48 a barrel.

US natural gas stocks rose by 109 billion cubic feet in the week ended June 6, above the 108 billion increase expected in a survey compiled by Bloomberg and following an increase of 122 billion cubic feet in the previous week.

Henry Hub natural gas futures were 0.1% lower at $3.51 per 1 million BTU.

In corporate news, NexGen Energy (NXE) shares added 0.9% after the firm said Saskatchewan's Ministry of Environment has approved its 2025 site program at the Rook I Property in the Athabasca Basin, Saskatchewan.

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