Energy Sector Update for 10/22/2018: HAL,TOT,CEO,BP

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Top Energy Stocks

XOM -1.48%

CVX -1.19%

COP -1.06%

SLB -3.36%

OXY -0.60%

Energy stocks were mostly lower in afternoon trade, with the NYSE Energy Sector Index slipping almost 1.4% while shares of energy companies in the S&P 500 were down nearly 1.5% as a group. West Texas Intermediate crude oil for November delivery was falling 20 cents to $68.92 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude December contract was 7 cents higher at $79.85 per barrel. November natural gas futures were 9 cents lower at $3.16 per 1 million BTU. Among energy-related ETFs, United States Oil was posting a more than 0.5% drop while United States Natural Gas was retreating almost 2.3%. The Philadelphia Oil Service Sector index was down slightly more than 2.1%.

Among energy stocks moving on news:

(-) Halliburton ( HAL ) retreated Monday, sinking 3.24%. The oilfield-services company reported improved Q3 financial results compared with the year-ago period and also exceeded Wall Street expectations.

In other sector news:

(-) Total ( TOT ) dropped almost 2% on Monday after agreeing to boost the contract volume of liquefied natural gas it will supply to CNOOC ( CEO ) by 50% over its prior agreement to 1.5 million tons per year. The revised agreement also extends its term by an extra five years to 20 years.

(-) BP plc ( BP ) was down almost 2%. The company secured approval from the UK Oil and Gas Authority to proceed with the Alligin development located west of Shetland, which forms part of the Greater Schiehallion Area.

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: HAL , TOT , CEO , BP

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