Sector Update: Energy

Thursday, February 25, 2021 3:13 PM | MT Newswires

Energy stocks were ending lower this afternoon, with the NYSE Energy Sector Index sliding 0.6% while the SPDR Energy Select Sector ETF was down 1.9%. Front-month West Texas Intermediate crude oil settled 31 cents higher at $63.53 per barrel while the global benchmark Brent crude contract was falling 22 cents to $66.82 per barrel. Henry Hub natural gas futures declined 2 cents to $2.78 per 1 million BTU. In company news, PDC Energy (PDCE) rose as much as 16% on Wednesday, reaching a 22-month high of $39.08 a share, after reporting improved Q4 earnings topping Wall Street expectations and announcing plans to return more than $120 million to investors this year by restarting its stock buyback and dividend programs.

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