Sector Update: Energy

Last Updated: Wednesday, January 26, 2022 12:53 PM | MT Newswires

Energy stocks were higher this afternoon, with the NYSE Energy Sector Index climbing 1.6% while the SPDR Energy Select Sector ETF (XLE) was up 1.3%.

The Philadelphia Oil-Service Sector index was posting a 1.2% gain but the Dow Jones US Utilities Index was slipping 0.1%.

Front-month West Texas Intermediate crude oil was rising $2.44 to $87.94 per barrel while Henry Hub natural-gas futures were $0.18 higher at $4.23 per 1 million BTU.

In company news, JinkoSolar Holding (JKS) rose 9.2% after its Jiangxi Jinko subsidiary overnight wrapped its IPO and first day of trading on the Shanghai Stock Exchange's Sci-Tech innovation board, issuing 2 billion ordinary shares priced at 5 renminbi ($0.79) each and generating around 10 billion renminbi in gross proceeds.

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