Sector Update: Energy

MT Newswires Live05-18

Energy stocks were leaning lower pre-bell Monday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.5%.

The United States Oil Fund (USO) was down 1.6% and the United States Natural Gas Fund (UNG) was 2.6% higher.

Front-month US West Texas Intermediate crude oil was 2.1% lower at $103.22 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 1.7% to $107.40 per barrel, and natural gas futures were up 2.6% at $3.04 per 1 million British Thermal Units.

ConocoPhillips (COP) and Glenfarne Group's subsidiary have signed a 30-year agreement to supply North Slope natural gas for phase one of the Alaska LNG project, the companies said. ConocoPhillips shares were down more than 1% premarket.

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