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Sector Update: Energy

Dec 13, 2024 12:54 PM

03:20 PM EST, 12/13/2024 (MT Newswires) -- Energy stocks were lower late Friday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each shedding 0.6%.

The Philadelphia Oil Service Sector index fell 0.9%, and the Dow Jones US Utilities index was up 0.1%.

Front-month West Texas Intermediate crude oil rose 1.7% to $71.21 a barrel while the global benchmark Brent crude contract advanced 1.4% to $74.45 a barrel. Henry Hub natural gas futures dropped 4.8% to $3.29 per 1 million BTU.

In corporate news, Pinnacle West Capital ( PNW ) fell 1.1%. The company said late Thursday that the chairman and chief executive of the company and Arizona Public Service, Jeff Guldner, will retire on March 31.

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