Sector Update: Energy Stocks Advance Premarket Thursday

MT Newswires Live11-14

Energy stocks were advancing premarket Thursday as the Energy Select Sector SPDR Fund (XLE) rose by 0.7% recently.

The United States Oil Fund (USO) was up 1.7% and the United States Natural Gas Fund (UNG) was 1.9% lower.

Front-month US West Texas Intermediate crude oil was 1.1% higher at $69.21 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil gained 1% to $73.02 per barrel, and natural gas futures were down 1% at $2.95 per 1 million British Thermal Units.

Ovintiv (OVV) shares were over 1% higher after the company said it has agreed to acquire certain assets in Alberta Montney from Paramount Resources in an all-cash transaction of $2.38 billion.

Ecopetrol (EC) shares were up more than 1% after the company reported sales that still exceeded analysts' expectations.

TechnipFMC (FTI) shares advanced by over 1% after the company said it won a "major" contract from TotalEnergies (TTE) for the GranMorgu project on Block 58, the first offshore oil and gas development in Suriname.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment