Energy Sector Update for 11/26/2018: JKS, KBR, FPM.L, PEGI, PTR

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Top Energy Stocks:

XOM: +0.9%

CVX: +0.8%

COP: +0.9%

SLB: +1.6%

OXY: Flat

Energy shares were higher in pre-market trading Monday.

Light, sweet crude oil for January delivery was up 1.7% at $51.28 per barrel, while the global benchmark Brent crude January contract was up 2.3% at $60.17 per barrel and natural gas for December delivery was down 5.6% at $4.07 per million Btu. In energy ETFs, the United States Oil Fund ( USO ) was flat while the United States Natural Gas ETF ( UNG ) was down 9.1%.

Expected movers:

- JinkoSolar ( JKS ) rose more than 13% after reporting Q3 results that improved from the prior-year period;

- KBR ( KBR ) secured a contract from the Department of Petroleum of Papua New Guinea to provide ongoing consulting, advisory and engineering services in relation to multiple new and existing energy and resource developments located across the country

Other news:

- Pattern Energy ( PEGI ) acquired a 51% stake in 35 MW interest in the Stillwater wind project in Montana from its affiliate Pattern Energy Group 2 for $23 million;

- PetroChina Company (PTR) replaced French energy major Total (TOT) in Iran's South Pars gas project, Reuters reported

News from overseas:

- Faroe Petroleum (FPM.L) received an all-cash bid from Norwegian independent oil and gas company DNO (DNO.OL) valuing the company at approximately 607.9 million pounds ($779.4 million)

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 , JKS , KBR , PEGI

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