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Sector Update: Energy Stocks Mixed in Late Friday Afternoon Trading
2024-08-17 03:40
03:40 PM EDT, 08/16/2024 (MT Newswires) -- Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index up 0.1% and the Energy Select Sector SPDR Fund (XLE) easing 0.1%.
The Philadelphia Oil Service Sector index shed 0.2%, and the Dow Jones US Utilities index rose 0.5%.
West Texas Intermediate crude fell 2% to $76.58 per barrel, while global benchmark Brent retreated 1.8% to $79.61 a barrel. Henry Hub natural-gas futures dropped 3.8% to $2.11 per 1 million BTU.
In corporate news, ReNew Energy Global (RNW) shares tumbled 6.5% in recent trading, a day after the company reported lower fiscal Q1 earnings.
SLB (SLB) is expanding its business in Russia as its main western rivals pull out of the country, the Financial Times reported. SLB shares were down 0.5%.
Vital Energy (VTLE) shares fell 1.3% as KeyBanc downgraded the company to sector weight from overweight.
Diversified Energy (DEC) shares popped 3.3% after the company said Friday that it has completed its acquisition of natural-gas properties and related facilities in eastern Texas from Crescent Pass Energy.
