Home Commodities Sector Update: Energy Stocks, Commodities Extending Monday Gains This Afternoon

Sector Update: Energy Stocks, Commodities Extending Monday Gains This Afternoon


Energy stocks added to their prior gains this afternoon, with the NYSE Energy Sector Index and the SPDR Energy Select Sector ETF (XLE) both rising 3.3%. The Philadelphia Oil-Service Sector index was posting a 4.2% advance and the Dow Jones US Utilities Index was adding 0.8%.

West Texas Intermediate crude oil settled $1.95 higher at $109.57 per barrel while North Sea Brent crude also was gaining $1.91 to $115.03 per barrel. Henry Hub natural gas futures rose $0.28 to $6.50 per 1 million BTU.

In company news, Ameren (AEE) advanced 1.1% after Monday announcing its purchase of the 200-megawatt Huck Finn solar-energy installation in central Missouri slated to begin operations in 2024. Financial terms of the transaction were not disclosed.

Capstone Green Energy (CGRN) added 7.5% after Monday announcing a follow-on order for two of its Signature series microturbines with a total capacity of 1.6 megawatts from a bottling and packaging provider in Mexico.

Borr Drilling (BORR) climbed 10% after the Norwegian oilfield services company Monday said it signed a letter of intent with an unnamed third party for the sale of three jack-up rigs being built with Keppel FELS for a combined $320 million, including delivery installments and other future costs.

Vermilion Energy (VET) rose over 12% after a Scotiabank upgrade of the Canadian oil and natural producer to sector outperform from sector perform.

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