Sector Update: Energy

MT Newswires Live06-09 03:27

Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each adding 1%.

The Philadelphia Oil Service Sector Index was climbing 3.8%, and the Dow Jones US Utilities Index fell 1.7%.

Front-month West Texas Intermediate crude oil rose 0.6% to $91.06 a barrel, and the global benchmark Brent crude contract advanced 1.2% to $94.17 a barrel. Henry Hub natural gas futures fell 3% to $3.13 per 1 million BTU.

In corporate news, Sempra (SRE) shares were down 2.2% after its infrastructure subsidiary said that it has named Bhavesh Patel as its new CEO. The appointment will become effective after the previously announced KKR-led (KKR) consortium's acquisition of a majority stake in the company closes, Sempra Infrastructure said.

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