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Sector Update: Energy
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Sector Update: Energy
Nov 9, 2024 12:28 PM

01:28 PM EST, 11/07/2024 (MT Newswires) -- Energy stocks were mixed Thursday afternoon, with the NYSE Energy Sector Index up 0.2% and the Energy Select Sector SPDR Fund (XLE) shedding 0.5%.

The Philadelphia Oil Service Sector index was posting a 2% drop, and the Dow Jones US Utilities index was increasing 0.1%.

Front-month West Texas Intermediate crude oil was up 1.3% at $72.64 a barrel while the global benchmark Brent crude contract was advancing 1.4% to $75.93 a barrel. Henry Hub natural gas futures fell 2.5% to $2.68 per 1 million BTU.

US natural gas stocks rose by 69 billion cubic feet in the week ended Nov. 1, slightly larger than the 68 billion gain expected in a Bloomberg survey and following an increase of 78 billion cubic feet in the previous week.

In corporate news, Duke Energy ( DUK ) reported Q3 adjusted earnings of $1.62 per share, down from $1.94 a year ago. Analysts polled by Capital IQ expected $1.73. Its shares fell 2.2%.

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