Sector Update: Energy Stocks Mixed in Friday Afternoon Trading

MT Newswires Live
2024-10-26

Energy stocks were mixed Friday afternoon with the NYSE Energy Sector Index gaining 0.1% and the Energy Select Sector SPDR Fund (XLE) down 0.3%.

The Philadelphia Oil Service Sector index climbed 1.1%, and the Dow Jones US Utilities index fell 1.3%.

West Texas Intermediate crude oil rose 2.2% to $71.71 a barrel, while global benchmark Brent advanced 2.1% to $75.94 a barrel. Henry Hub natural gas futures added 0.5% to $2.534 per 1 million BTU.

In corporate news, Eni (E) reported Q3 earnings of 0.16 euros ($0.17) per diluted share, down from 0.57 euros a year earlier. A single analyst polled by Capital IQ expected 0.35 euros. Eni shares rose 0.6%.

Portland General Electric (POR) reported Q3 earnings of $0.90 per diluted share, up from $0.46 a year earlier. Analysts expected $0.89. The shares eased 0.2%.

Empire Petroleum (EP) shares rose 1.4% after the company said a rights offering was oversubscribed.

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