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Sector Update: Energy
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Sector Update: Energy
Jan 10, 2025 12:35 PM

03:21 PM EST, 01/10/2025 (MT Newswires) -- Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index up 0.1% and the Energy Select Sector SPDR Fund (XLE) easing 0.1%.

The Philadelphia Oil Service Sector index was down 0.4%, and the Dow Jones US Utilities index was shedding 0.6%.

In sector news, the US plans to sanction 180 tankers, dozens of oil traders, two oil companies, and some oil executives in Russia, Reuters reported, citing a document circulating among traders in Asia and Europe whose veracity the news agency "could not verify."

Front-month West Texas Intermediate crude oil jumped 3.6% to $76.61 a barrel, and the global benchmark Brent crude contract spiked 3.7% to $79.73 a barrel. Henry Hub natural gas futures surged 7.3% to $3.97 per 1 million BTU.

In corporate news, Plains All American Pipeline ( PAA ) shares rose 0.7% after Wolfe upgraded the stock to outperform from peer perform, with a price target of $22.

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