Energy Sector Update for 12/07/2018: EQNR, PBR, XEC, XOM, CVX, COP, SLB, OXY

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Top Energy Stocks:

XOM +0.05%

CVX +0.97%

COP +0.32%

SLB +2.86%

OXY +0.94%

Energy stocks were higher, with the NYSE Energy Sector Index rising 1%, while shares of energy companies in the S&P 500 were up about 0.6% as a group. West Texas Intermediate crude oil for January delivery was $2.33 higher to $53.82 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude February contract gained $2.96 to $63.02 per barrel and January natural gas futures were up by 21 cents to $4.54 per 1 million BTU. Among energy-related ETFs, United States Oil was climbing by 3.7%, while United States Natural Gas was up 3.7%. The Philadelphia Oil Service Sector index also was higher by 0.9%.

In other sector news:

(+) Equinor ( EQNR ) was 2% higher after the Norwegian Ministry of Petroleum and Energy approved its capital expenditure plan for the Troll Phase 3 development.

(+) Petrobras ( PBR ) was up 2% after its wholly-owned Petrobras Global Finance subsidiary started cash tender offers for up to $1.5 billion notes.

(+) Cimarex Energy ( XEC ) was rising by more than 1% after its board approved a quarterly dividend of $0.18 per common share, unchanged from the previous payout.

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: EQNR , PBR , XEC , XOM , CVX

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