Sector Update: Energy

Last Updated: Thursday, August 18, 2022 1:27 PM | MT Newswires

Energy stocks were gaining this afternoon, with the NYSE Energy Sector Index rising 1.9% while the SPDR Energy Select Sector ETF (XLE) was up 2.4%.

The Philadelphia Oil-Service Sector index was climbing 3.6% but the Dow Jones US Utilities Index was ahead less than 0.1%. West Texas Intermediate crude oil was rising $2.33 to $90.44 per barrel while Henry Hub natural gas futures were $0.11 higher at $9.35 per 1 million BTU.

In company news, Canadian Solar (CSIQ) rose almost 18% after its Q2 net income increased nearly five times over year-ago levels, reaching $1.07 per share and scorching analyst estimates by $0.40 per share.

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