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Sector Update: Energy
Mar 10, 2025 1:01 PM

03:35 PM EDT, 03/10/2025 (MT Newswires) -- Energy stocks gained late Monday afternoon with the NYSE Energy Sector Index rising 0.1% and the Energy Select Sector SPDR Fund (XLE) adding 0.6%.

The Philadelphia Oil Service Sector index fell 2.3%, and the Dow Jones US Utilities index advanced 0.8%.

West Texas Intermediate crude oil declined 1.8% to $65.83 a barrel, while global benchmark Brent fell 1.6% to $69.28 a barrel. Henry Hub natural gas futures rose 2% to $4.49 per 1 million BTU.

In sector news, the Ontario government informed representatives of New York, Michigan and Minnesota that the province is imposing a 25% surcharge on electricity exports to the states in response to President Donald Trump's tariffs on Canada, Ontario Premier Doug Ford said.

Separately, the US Supreme Court denied a bid by Alabama and 18 other states for leave to file a complaint against five other states seeking to hold private companies liable for allegedly deceiving the public about the dangers of using their fossil-fuel products.

In corporate news, Pembina Pipeline ( PBA ) shares rose 1.5% after Citigroup its rating on the stock to buy from neutral.

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