Sector Update: Energy

Last Updated: Wednesday, October 5, 2022 3:28 PM | MT Newswires

Energy stocks extended their Wednesday gains this afternoon, with the NYSE Energy Sector Index rising 1.9% and the SPDR Energy Select Sector ETF (XLE) up 2.7%. West Texas Intermediate crude oil settled $1.24 higher at $87.76 per barrel and Henry Hub natural gas futures rose $0.09 to $6.93 per 1 million BTU. In company news, Ocean Power Technologies (OPTT) added 8.4% after Wednesday announcing a new, $529,025 subcontract helping Amentum Services provide land, air, space and port and coastal surveillance services to the federal departments of Defense and Homeland Security.

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