Energy stocks rose Friday afternoon with the NYSE Energy Sector Index up 0.4% and the Energy Select Sector SPDR Fund (XLE) adding 0.3%.
The Dow Jones US Utilities index gained 1.1%, and the Philadelphia Oil Service Sector index eased 0.1%.
West Texas Intermediate crude oil rose 0.7% to $61.62 a barrel, and global benchmark Brent advanced 0.7% to $64.86 a barrel. Henry Hub natural gas futures rose 1.4% to $3.30 per 1 million BTU.
In corporate news, US President Trump is expected to sign executive orders to ease regulatory requirements on approvals for new nuclear reactors and to enhance fuel supply chains, Reuters reported Thursday. Nano Nuclear Energy (NNE) shares rose 27%, Uranium Energy (UEC) gained 24%, Energy Fuels (UUUU) climbed 19%, Centrus Energy (LEU) jumped 23%, and Oklo (OKLO) advanced 24% higher.
Phillips 66 (PSX) will start laying off most employees at its Los Angeles facility in December, Reuters reported Thursday. Phillips 66 shares rose 0.1%.
Hallador Energy (HNRG) shares dropped 7.2% after the company said a conversion transaction commitment agreement, effective Jan. 2, with a "leading global data center developer was being terminated by the counterparty."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.