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Sector Update: Energy Stocks Mixed in Late Tuesday Afternoon Trading
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Sector Update: Energy Stocks Mixed in Late Tuesday Afternoon Trading
Oct 3, 2024 1:13 AM

03:50 PM EDT, 09/24/2024 (MT Newswires) -- Energy stocks were mixed late Tuesday afternoon with the NYSE Energy Sector Index up 0.3% and the Energy Select Sector SPDR Fund (XLE) easing 0.2%.

The Philadelphia Oil Service Sector index rose 0.3%, and the Dow Jones US Utilities index fell 0.8%.

West Texas Intermediate crude oil gained 1.7% to $71.59 a barrel, and global benchmark Brent advanced 1.8% to $75.19 a barrel. Henry Hub natural gas futures fell 1.7% to $2.57 per 1 million BTU.

In corporate news, PG&E ( PCG ) got $34.5 million in grants from the US Department of Energy to support 19 hydroelectric projects in the utility's network. PG&E ( PCG ) shares fell 0.9%.

Brookfield Renewable Partners ( BEP ) and its institutional partners agreed to sell renewable power assets developer Saeta Yield to Abu Dhabi Future Energy - Masdar for $1.4 billion. Brookfield Renewable shares rose 1.5%.

TotalEnergies (TTE) shares added 0.6% after the company agreed to supply HD Hyundai Chemical with 200,000 tons of liquefied natural gas a year for a seven-year period.

The US Federal Trade Commission is set to approve Chevron's ( CVX ) $53 billion acquisition of Hess (HES) as early as this week, Reuters reported. Chevron ( CVX ) shares were little changed, and Hess rose 0.4%.

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