Energy Sector Update for 04/17/2019: EQNR, BP, XOM, CVX, COP, SLB, OXY

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Top Energy Stocks:

XOM: +0.62%

CVX: +0.35%

COP: +0.20%

SLB: +0.60%

OXY: +0.68%

Energy giants were higher in pre-market trading Wednesday. West Texas Intermediate crude oil for May delivery was up $0.28 at $64.33 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude June contract gained $0.32 to $71.95 per barrel and May natural gas futures were 2 cents lower at $2.55 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was up 0.30%, while the United States Natural Gas fund was 1.50% lower.

In other sector news:

(+) Equinor ( EQNR ) was 1% higher after the company won rights to explore seven blocks offshore Argentina and to run production operations at five of them.

(+) BP ( BP ) is raising its US onshore upstream spending to a range of $2 billion to $2.5 billion this year from $1 billion last year, Argus Media reported, citing a company official. BP was slightly gaining after the news.

(+) Venezuelan opposition leader Juan Guaido is seeking to annul an $8.7 billion arbitration award to ConocoPhillips ( COP ) as he attempts to preserve foreign assets, Reuters reported. ConocoPhillips was recently advancing marginally.

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This article appears in: Investing , Energy
Referenced Symbols: EQNR , BP , COP , XOM , CVX

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