Sector Update: Energy

MT Newswires Live
08/18

Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.

The Philadelphia Oil Service Sector Index was up 0.4%, and the Dow Jones US Utilities Index was decreasing 0.6%.

Front-month West Texas Intermediate crude oil rose 2.3% to $84.31 a barrel, and the global benchmark Brent crude contract added 2.4% to $90.66 a barrel. Henry Hub natural gas futures fell 1.5% to $2.69 per 1 million BTU.

In corporate news, NexGen Energy (NXE) is sharing information and holding talks with BHP (BHP) about its Rook I mining project in Saskatchewan, as it seeks to raise $1 billion in capital over the next nine months, Reuters reported, citing NexGen CEO Leigh Curyer. NexGen shares rose 3.6%, and BHP added 1.2%.

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