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Sector Update: Energy
May 24, 2024 1:21 PM

03:21 PM EDT, 05/24/2024 (MT Newswires) -- Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index adding 0.2% and the Energy Select Sector SPDR Fund (XLE) decreasing 0.1%.

The Philadelphia Oil Service Sector index was shedding 0.1%, and the Dow Jones US Utilities index rose 0.9%.

Front-month West Texas Intermediate crude oil rose 1.1% to $77.75 a barrel while the global benchmark Brent crude contract advanced 1% to $82.14 a barrel. Henry Hub natural gas futures slumped 4.7% to $2.53 per 1 million BTU.

In corporate news, Enerplus ( ERF ) said Friday that its shareholders voted to approve the $3.8 billion sale of the oil and gas producer to Chord Energy ( CHRD ) . Enerplus ( ERF ) shares were rising 1.4% and Chord was up 1.2%.

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