Sector Update: Energy

MT Newswires Live01:43

Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) falling 1%.

The Philadelphia Oil Service Sector Index was dropping 1.8%, and the Dow Jones US Utilities Index was adding 0.8%.

Front-month West Texas Intermediate crude oil was declining 0.8% to $107.77 a barrel, and the global benchmark Brent crude contract was decreasing 0.3% to $104.70 a barrel. Henry Hub natural gas futures rose 0.5% to $3.02 per 1 million BTU.

In corporate news, ExxonMobil (XOM) has signed a memorandum of understanding with QatarEnergy and the Egyptian government to explore the potential development and commercialization of gas discoveries in Cyprus through Egypt's existing gas and liquefied natural gas export infrastructure, QatarEnergy said Thursday. Exxon shares were down 1%.

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