Sector Update: Energy

MT Newswires Live
Feb 20

Energy stocks were falling pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.2%.

The United States Oil Fund (USO) was 0.7% lower and the United States Natural Gas Fund (UNG) was up 0.4%.

Front-month US West Texas Intermediate crude oil was down 0.2% at $66.32 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 0.3% to $71.45 per barrel, and natural gas futures were 1% lower at $2.99 per 1 million British Thermal Units.

Kosmos Energy (KOS) shares were up more than 7% after the company said the Ghanaian parliament has approved the extension of licenses for its petroleum agreements covering the Jubilee and TEN fields through 2040.

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