Sector Update: Energy

Thursday, November 19, 2020 9:06 AM | MT Newswires

Energy stocks were down in Thursday's premarket trading with the Energy Select Sector SPDR (XLE) recently declining by 0.34%. The United States Oil Fund (USO) was 0.28% higher and the United States Natural Gas Fund (UNG) was down more than 5%. West Texas Intermediate crude oil was down $0.03 at $41.79 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude gained $0.09 to $44.43 per barrel and natural gas futures were 15 cents lower at $2.57 per 1 million BTU.

Transocean (RIG) was gaining more than 4% after saying Petrobras (PBR) has exercised a 680-day preexisting, fixed-price option for the Deepwater Corcovado, and an 815-day preexisting, fixed-price option for the Deepwater Mykonos. Transocean said the extensions add about $297 million to its backlog.

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