Sector Update: Energy

MT Newswires Live03-10

Energy stocks were mixed late Monday afternoon with the NYSE Energy Sector Index rising 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.5%.

The Philadelphia Oil Service Sector Index rose 0.5%, and the Dow Jones US Utilities Index increased 0.4%.

West Texas Intermediate crude oil declined 0.8% to $90.16 a barrel, and global benchmark Brent crude contract rose 2% to $94.55 a barrel. Henry Hub natural gas futures fell 2.6% to $3.10 per 1 million BTU.

In corporate news, Plug Power (PLUG) is looking to offer hydrogen electricity of as much as 250 megawatts in a special auction by PJM Interconnection that President Donald Trump wants it to hold later in the year, Bloomberg reported, citing an interview with company chairman Andy Marsh. Plug Power shares rose 3.1%.

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