Energy stocks were mixed in Wednesday afternoon trading with the NYSE Energy Sector Index rising 0.1% and the Energy Select Sector SPDR Fund (XLE) dropping 0.5%.
The Philadelphia Oil Service Sector Index fell 0.6%, and the Dow Jones US Utilities index shed 0.4%.
US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 2.8 million barrels in the week ended Friday following an increase of 7.9 million in the previous week. Excluding inventories in the SPR, commercial crude oil stocks fell by 3 million after a gain of 7.7 million in the previous week, compared with expectations for a steady reading in a survey compiled by Bloomberg.
West Texas Intermediate crude oil shed 0.3% to $64.96 a barrel, and global benchmark Brent eased 0.2% to $67.54 a barrel. Henry Hub natural gas futures rose 2.6% to $3.09 per 1 million BTU.
In corporate news, Energy Transfer (ET) after the company approved a $5.3 billion expansion of its Transwestern natural gas pipeline to increase supply to Arizona and New Mexico. The stock rose 0.9%.
TotalEnergies (TTE) said that its Total Austral affiliate agreed to sell its 45% stake in two oil and gas blocks in Argentina to YPF (YPF) for $500 million. TotalEnergies shares gained 0.5%, and YPF rose 3.6%.
Southwest Gas (SWX) shares fell 1.9% after the company reported lower Q2 consolidated operating revenue.
Delek Logistics Partners (DKL) shares dropped 32.4% after the company posted lower Q2 net income and revenue.
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