Sector Update: Energy

MT Newswires Live05-15

Energy stocks advanced late Thursday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.7%.

The Philadelphia Oil Service Sector Index was climbing 1.3%, and the Dow Jones US Utilities Index was up 0.3%.

Front-month West Texas Intermediate crude oil was rising 0.5% to $101.57 a barrel, and the global benchmark Brent crude contract was adding 0.4% to $106.02 a barrel. Henry Hub natural gas futures rose 1.5% to $2.91 per 1 million BTU.

In corporate news, Infinity Natural Resources (INR) shares gained 3% after RBC Capital Markets said in a note the company is positioned to outperform peers over the next year as a "niche player" that can switch focus between oil and natural gas.

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