Sector Update: Energy Stocks Rise Pre-Bell Thursday

MT Newswires Live

Oct 23

Energy stocks were rising pre-bell Thursday, with The Energy Select Sector SPDR Fund (XLE) 1.9% higher.

The United States Oil Fund (USO) was up 4.2% and the United States Natural Gas Fund (UNG) was 0.4% lower.

Front-month US West Texas Intermediate crude oil was 5.9% higher at $61.94 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 5.4% to $66.01 per barrel, and natural gas futures were down 1.7% at $3.39 per 1 million British Thermal Units.

Valero Energy (VLO) shares were up more than 2% after the company reported Q3 adjusted earnings and revenue that exceeded analysts' expectations.

Patterson-UTI Energy (PTEN) stock was up more than 7% after the company reported a narrower Q3 net loss.

Oceaneering International (OII) shares were down more than 4% after the company said it expects its Q4 revenue to decline year over year.

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