Sector Update: Energy

MT Newswires Live
08/12

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.2%.

The Philadelphia Oil Service Sector Index increased 0.8%, and the Dow Jones US Utilities Index advanced 1.1%.

Front-month West Texas Intermediate crude oil rose 1.5% to $83.33 a barrel, and the global benchmark Brent crude contract gained 1.5% to $89.04 a barrel. Henry Hub natural gas futures decreased 0.9% to $2.77 per 1 million BTU.

In corporate news, Duke Energy (DUK) shares rose 1.6% after it said Tuesday it priced a public offering of 35 million equity units, with each unit to be issued in a stated amount of $50, for about $1.72 billion in expected net proceeds.

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