Sector Update: Energy

MT Newswires Live01:01

Energy stocks were mixed Tuesday afternoon, with the NYSE Energy Sector Index edging up 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.2%.

The Philadelphia Oil Service Sector Index rose 0.5%, and the Dow Jones US Utilities Index was shedding 0.4%.

Front-month West Texas Intermediate crude oil fell 1.2% to $69.91 a barrel, and the global benchmark Brent crude contract eased 0.2% to $73.02 a barrel. Henry Hub natural gas futures gained 4.5% to $3.33 per 1 million BTU.

In corporate news, Air Products and Chemicals (APD) shares gained past 8% after it said Tuesday it will not proceed with the Louisiana Clean Energy Project due to expected financial returns that do not meet stringent return criteria.

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