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Sector Update: Energy
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Sector Update: Energy
Jun 14, 2024 10:44 AM

01:29 PM EDT, 06/14/2024 (MT Newswires) -- Energy stocks fell Friday afternoon with the NYSE Energy Sector Index down 1% and the Energy Select Sector SPDR Fund (XLE) decreasing 0.7%.

The Philadelphia Oil Service Sector index slumped 2.5%, and the Dow Jones US Utilities index was little changed.

West Texas Intermediate crude oil rose 0.3% to $78.85 a barrel, while global benchmark Brent crude advanced 0.3% to $83 a barrel. Henry Hub natural gas futures dropped 2.1% to $2.90 per 1 million BTU.

In corporate news, BWX Technologies ( BWXT ) said its PanTeXas Deterrence venture was awarded a contract worth up to $30 billion from the US Department of Energy's National Nuclear Security Administration to manage and operate the Pantex plant in the Texas Panhandle. BWX shares rose 0.5%.

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