Energy Sector Update for 04/16/2019: BRS, TS, XOM, CVX, COP, SLB, OXY

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Top Energy Stocks:

XOM: +0.25%

CVX: +0.29%

COP: Flat

SLB: +0.22%

OXY: +0.22%

Top energy stocks were gaining pre-market Tuesday. West Texas Intermediate crude oil for May delivery was up $0.18 at $63.58 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude June contract gained $0.04 to $71.22 per barrel and May natural gas futures were flat at $2.59 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was up 0.23%, while the United States Natural Gas fund was flat.

Stocks moving on news include:

(-) Bristow Group ( BRS ), which was plunging by more than 34% after saying it has secured an extension to its overdue accounts while retaining advisers to find ways to strengthen its capital position.

(+) Tenaris ( TS ) was up more than 3% after an Argentine court of appeals reversed the Nov. 27 preliminary first-instance decision in the Notebooks Case on the basis of "absence of necessary and sufficient grounds" implicating its Chairman and CEO Paolo Rocca.

In other sector news:

(+) Chevron ( CVX ) was slightly higher after it received a favorable ruling from the Supreme Court of the Netherlands, preventing the enforcement of a $9.5 billion Ecuadorian judgment against the company.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Energy
Referenced Symbols: BRS , TS , CVX , XOM , COP

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