Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index decreasing 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) down 0.5%.
The Philadelphia Oil Service Sector Index was easing 0.3%, and the Dow Jones US Utilities Index declined 1.6%.
Front-month West Texas Intermediate crude oil rose 1.6% to $102.98 a barrel, and the global benchmark Brent crude contract increased 0.2% to $110.05 a barrel. Henry Hub natural gas futures fell 1.9% to $3.06 per 1 million BTU.
In corporate news, American Electric Power (AEP) said Monday it has reached an agreement with X-Energy (XE) to explore the development of a proposed 960-megawatt nuclear energy project in Sullivan County, Indiana. The initial project will use 12 Xe-10 small modular reactors of 80 MW each, and Amazon (AMZN) intends to buy power under a long-term contract, it said. AEP shares were down 1.6%, and X-Energy added 0.8%.
Woodside Energy (WDS) said it has restarted commissioning work on its $12 billion Scarborough liquefied natural gas project offshore Western Australia, after Greenpeace activists occupied a drilling platform over the weekend, Bloomberg reported on Monday. Woodside shares increased 0.3%.
Chord Energy (CHRD) said Monday it has appointed Michael Lou as chief executive officer and president, effective immediately. Lou succeeds Danny Brown, who stepped down as CEO to pursue another professional opportunity. Lou previously served as chief strategy and commercial officer, as well as chief financial officer. Separately, the company reported total Q3 production of 290.5 to 290.9 thousand barrels of oil equivalent per day, or MBoepd, compared with its guidance of 277.7 to 284 MBoepd. Its shares rose 0.1%.
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