Sector Update: Energy

Last Updated: Tuesday, October 19, 2021 1:15 PM | MT Newswires

Energy stocks were higher this afternoon, with the NYSE Energy Sector Index climbing 0.9% while the SPDR Energy Select Sector ETF (XLE) was up 1.3%. The Philadelphia Oil-Service Sector index was posting a 0.9% gain and the Dow Jones US Utilities Index was 1.0% higher. Front-month West Texas Intermediate crude oil was rising $1.21 to $83.65 per barrel while Henry Hub natural gas futures were $0.05 higher at $5.04 per 1 million BTU, reversing a morning decline. In company news, Permian Basin Royalty Trust (PBT) rose 9.5% after Tuesday declaring an October cash distribution of $0.022354 per unit, against $0.023119 per unit in the previous month.

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