Energy Sector Update for 06/07/2019: TUSK, PBR, BP, RDS.A, RDS.B, XOM, CVX, COP, SLB, OXY

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Top Energy Stocks:

XOM: +0.57%

CVX: +0.31%

COP: +0.69%

SLB: +1.43%

OXY: -2.02%

Energy giants were mixed pre-bell Friday. West Texas Intermediate crude oil for July delivery was up $0.16 at $52.75 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude August contract gained $0.28 to $61.95 per barrel and July natural gas futures were even at $2.33 per 1 million BTU. Among energy related ETFs, the United States Oil Fund ( USO ) was down 0.9%, while the US Natural Gas Fund ( UNG ) was down 0.1%.

Early movers include:

(+) Mammoth Energy Services ( TUSK ), which was up more than 3% after it issued a statement to reiterate "the quality and reasonableness" of its work in Puerto Rico in response to reports that the FBI and the Department of Homeland Security's Inspector General are probing how its unit landed a major role in the Caribbean island's power restoration projects.

In other sector news:

(+) Petrobras ( PBR ) was more than 1% higher after Reuters reported that Brazil's state-run petroleum company received court approval for the proposed $8.6 billion sale of its TAG pipeline unit to France's Engie.

(+) BP ( BP ) is again putting its interest in the Shearwater oil field in the British North Sea up for sale after negotiations with Shell (RDS.A, RDS.B) ended without a deal, Reuters reported, citing sources. The companies were recently trading higher.

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: USO , UNG , TUSK , PBR , BP

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