Sector Update: Energy Stocks Shine in Late Trading Amid Rising Oil Prices

Last Updated: Friday, September 24, 2021 3:18 PM | MT Newswires

Energy stocks remained firm near the close, with the NYSE Energy Sector Index rising 0.3% while the SPDR Energy Select Sector ETF (XLE) was up 0.8%.

Front-month West Texas Intermediate crude oil was rising $0.62 to $73.92 per barrel while the benchmark Brent crude contract was advancing $0.76 to $78.01 per barrel amid tight supplies. Henry Hub natural gas futures were $0.15 higher at $5.12 per 1 million BTU.

Among energy-related ETFs, the United States Oil Fund (USO) was ahead 0.8% while the United States Natural Gas Fund (UNG) was adding 2.3%. The Philadelphia Oil-Service Sector Index was posting a 0.6% gain while the Dow Jones US Utilities Index was off less than 0.1%.

In company news, Huaneng Power International (HNP) said Friday there are no significant matters that would affect its stock's recent price volatility nor is it aware of any media reports that could contribute to the fluctuation. The stock was up almost 6%.

Clearway Energy (CWEN) subsidiary Clearway Energy Operating said Friday it is planning to offer $350 million of its senior notes due 2032. The stock was 0.3% lower in late trade.

Magnolia Oil & Gas (MGY) said late Thursday EnerVest affiliates plan to sell 7.5 million class A shares in the company in an underwritten offering. The stock was almost 4% lower.

Share this article:

Related Companies

You May Also Like