Sector Update: Energy

MT Newswires Live03:38

Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index increasing 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.1%.

The Philadelphia Oil Service Sector Index climbed 1.7%, and the Dow Jones US Utilities Index rose 0.5%.

Front-month West Texas Intermediate crude oil fell 3% to $93.11 a barrel, and the global benchmark Brent crude contract dropped 2.7% to $95.18 a barrel. Henry Hub natural gas futures rose 4.7% to $3.37 per 1 million BTU.

In corporate news, Venture Global (VG) shares jumped past 5% after JPMorgan upgraded the company's stock to overweight from neutral and increased its price target to $17 from $16.

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