Energy Sector Update for 10/12/2018: NE,SLB,MPC,ENB

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Top Energy Stocks

XOM -0.92%

CVX -1.30%

COP +0.59%

SLB -0.98%

OXY -0.54%

Energy stocks were declining Friday afternoon, following Brent crude oil and natural gas prices lower, with the NYSE Energy Sector Index falling over 0.2% while shares of energy companies in the S&P 500 were down more than 0.7% as a group. West Texas Intermediate crude oil for November delivery was up $0.08 to $71.05 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude December contract was declining $0.59 to $79.67 per barrel. November natural gas futures were $0.03 lower at $3.23 per 1 million BTU. Among energy-related ETFs, United States Oil was climbing about 0.2% while United States Natural Gas was dropping almost 1.4%. The Philadelphia Oil Service Sector index was down about 0.02%.

Among energy stocks moving on news:

(+) Noble ( NE ) was sailing over 2% higher in recent trading, previously climbing over 6%, after saying it has secured contracts for two of its drillships, the Noble Don Taylor and Noble Globetrotter II. According to the company's latest fleet status report released on Thursday, the Don Taylor is beging deployed in the U.S. Gulf of Mexico for Talos Energy ( TALO ) starting in early November. The Globtrotter II is heading for Bulgaria for French oil major Total ( TOT ) early next month and lasting through early January. Contract dayrates for either vessel were not disclosed.

In other sector news

(-) Schlumberger N.V ( SLB ) was down 1% after earlier being in positive territory. The oilfield-services company announced a partnership with TGS-NOPEC Geophysical Company to work on a new multi-client nodal seismic project in the U.S. Gulf of Mexico.

(+) Marathon Petroleum ( MPC ) advanced 1.1% on Friday after reports that it had started curbing operations at its Anacortes refinery in Washington state due to a supply disruption after Enbridge's (ENB) natural gas pipeline in British Columbia ruptured and exploded earlier this week.

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: NE , TALO , TOT , SLB , MPC

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