Sector Update: Energy

MT Newswires Live08-15

Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index rising 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.3%.

The Philadelphia Oil Service Sector Index was climbing 2.8%, and the Dow Jones US Utilities Index was up 0.6%.

Front-month West Texas Intermediate crude oil rose 1.4% to $82.41 a barrel, and the global benchmark Brent crude contract advanced 1.7% to $88.53 a barrel. Henry Hub natural gas futures slid 0.2% to $2.72 per 1 million BTU.

In corporate news, Energy Transfer's (ET) Green Chile Project pipeline, a New Mexico natural gas project that would supply power-generation systems for a planned Oracle (ORCL) data center, has been delayed and is now expected to enter service next year, Bloomberg reported. Energy Transfer shares were up 1.6%.

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