Sector Update: Energy

Last Updated: Monday, June 27, 2022 3:33 PM | MT Newswires

Energy stocks added to their prior gains this afternoon, with the NYSE Energy Sector Index and the SPDR Energy Select Sector ETF (XLE) both rising 3.3%. The Philadelphia Oil-Service Sector index was posting a 4.2% advance and the Dow Jones US Utilities Index was adding 0.8%. West Texas Intermediate crude oil settled $1.95 higher at $109.57 per barrel while Henry Hub natural gas futures rose $0.28 to $6.50 per 1 million BTU. In company news, Ameren (AEE) advanced 1.2% after Monday announcing its purchase of the 200-megawatt Huck Finn solar-energy installation in central Missouri slated to begin operations in 2024. Financial terms of the transaction were not disclosed.

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