Sector Update: Energy

Last Updated: Tuesday, October 4, 2022 1:27 PM | MT Newswires

Energy stocks were higher this afternoon, with the NYSE Energy Sector Index and the SPDR Energy Select Sector ETF (XLE) both climbing about 3.3%. West Texas Intermediate crude oil was rising $2.68 to $86.31 per barrel while Henry Hub natural gas futures were $0.35 higher at $6.82 per 1 million BTU. In company news, Vermilion Energy (VET) gained 3.5% after the oil and natural gas producer Tuesday disclosed its purchase of more Coelacanth Energy (CEI.V) shares, boosting its stake in the western Canadian energy company to more than 69.3 million shares, or 16.3% of its outstanding stock.

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