Energy stocks were higher late Wednesday afternoon, with the NYSE Energy Sector Index rising 1% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.7%.
The Philadelphia Oil Service Sector Index was adding 0.2%, and the Dow Jones US Utilities Index declined 0.8%.
In geopolitical news, the US has asked several Gulf Arab countries to be prepared for an intense military campaign after the US midterm elections, The Wall Street Journal reported, citing people briefed on the conversations. Separately, Iran-aligned Houthi militants said Tuesday they launched a missile at Saudi Arabia's biggest oil refinery, although the Kingdom didn't immediately confirm the attack, Reuters reported.
Front-month West Texas Intermediate crude oil rose 2.8% to $102.73 a barrel, and the global benchmark Brent crude contract added 1.2% to $115.25 a barrel. Henry Hub natural gas futures gained 4.5% to $2.82 per 1 million BTU.
In corporate news, Halliburton's (HAL) Optime service completed the first deployment of its remote-operated control system in Brazil in collaboration with Petrobras (PBR). The technology was used to install a subsea completion system on a deepwater well, reducing equipment requirements and streamlining offshore operations, Halliburton said Wednesday. Halliburton shares were up 0.3%, and Petrobras was shedding 0.5%.
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