Sector Update: Energy

MT Newswires Live
May 09

Energy stocks were lower late Friday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each decreasing 0.4%.

The Philadelphia Oil Service Sector Index rose 1%, and the Dow Jones US Utilities Index shed 0.7%.

Front-month West Texas Intermediate crude oil rose 0.6% to $95.41 a barrel, and the global benchmark Brent crude contract was advancing 1% to $101.07 a barrel. Henry Hub natural gas futures decreased 0.7% to $2.75 per 1 million BTU.

In corporate news, Presidio Production (FTW) signed definitive purchase and sale agreements to acquire the Canyon Creek assets for about $83 million in its first acquisition as a public company, the company said Friday. Presidio shares rose 4.6%.

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